two hours ago, my good friend – a Project Architect – asked me for help. she is about to be served with a bankruptcy notice. apparently it’s about her car which she told me about five years ago, was stolen (probably, she said, by an ex-boyfriend). i never asked her about it in detail because she seemed so distraught. later, she said, she’d been to court and the matter, i thought, was solved.
so, i’m just thinking, if it WAS stolen, wouldn’t the insurance people sort it out?
i hope to meet her tonight for the details.
the news made me a bit jittery coz i am behind two months with my housing loan payment and one month on my car. ulps.
it’s crazy. how come they don’t teach us how to manage our finances at university?
some of us, including moi, are total idiots when it comes to personal financing. suze orman said – more or less – how we conduct our finances is a reflection of ourselves?
latest news …
my friend called the lawyers and then the bank that issued the bankruptcy notice. they’ve agreed to accept her proposal of partial payment and then to continue paying by instalment. phew!
immediately, i checked the epf website on whether i can use my epf savings to pay my housing loan, at least for the next 8 months. seems i’m eligible, so i shall go to the epf office in thursday. will update if successful.
thank God my friend’s situation is ok now. alhamdulillah …
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June 24, 2008 at 2:09 pm
Bankruptcy Lawyer
Good to hear nobody’s banging down your door. The economic situation has many people behind on finances, and many are considering bankruptcy who otherwise wouldn’t ever think of it before.
June 26, 2008 at 4:59 am
ylang ylang
incidentally, my friend did ask me whether i knew any lawyers who deal with this sort of thing … before she settled it with the bank. but we are in malaysia though. although, i hope any US citizens who stumble across this blog would be directed to your website. i visited it. very useful.
my boyfriend’s dad is trying to wrap up his 25 year bankruptcy case. he could be a free man right now but they are trying to get the Official Assignee to solve his housing loan problem because he suspect there’s fraud involved as the property was sold off at RM1.5 mil although when he declared himself bankrupt he only owed the bank less than a quarter of a mil. but declaring himself bankrupt destroyed his family … he couldn’t get a loan to buy a car, a house, etc … and neither of his six children went to university although they are not stupid. the family was in major chaos at one time. now his 66 years old and he still has to work.
my friend’s boyfriend is also a bankrupt. but he could have gotten out of it a long time ago but he didn’t (and still doesn’t) have the will to deal with it.
i am myself am in a financial mess, but i hope i don’t have to declare myself bankrupt! God forbid!