 MUHAMMAD IZZAT B. HASSAN  MUHAMMAD FAQIR B. AMIR  MUHAMMAD IRAZZI B. MUHD ITHNIN  AHMAD NABIL B. IDZHAR  FAREEZ B.

AZMAN ZEIN
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 The bankruptcy process begins with a petition filed by

the debtor (most common) or on behalf of creditors (less common)  the assets are used to repay a portion of outstanding debt.  Upon the successful completion of bankruptcy proceedings, the debtor is relieved of the debt obligations incurred prior to filing for bankruptcy.

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 Impact to individual
 -not have any cash or asset .
 -increase debts.

 Impact to society
 -aware to make a loan.  -can reduce employment opportunities .

 Impact to economy
 effect to employment and taxes.

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PETALING JAYA (Feb 19. Sinar Harian 6 . 2013).

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 “These are impulse buys and my concern is that when people are faced with easy credit. About 52 people are declared bankrupt every day now compared with 36 in 2007  banks are making it easier for people to get loans to buy these high-end luxury motorcycles. 11 .  The statistics keep going up. between 2005 and June 2012. they tend to live beyond their means.823 people have been declared bankrupt in the country. a total of 243.

12 . they should also be responsible for assisting a borrower who is facing financial difficulty. People tend to apply regarding to personal matter. Banks should also look into the background of the borrowers who default on their loans. Personal loan could be a potential time bomb if we     don’t intervene now when financial institutions approve loans. Eg: marriage. Bank should made a serious effort to assist the borrower before initiating bankruptcy proceedings. start up a small business and etc.

High interest over time 13 . Tend to apply housing loan because people want to     own house. Long repayment period( max 25 years) Ex: fail to repayment when there is economic downturn. People unable to pay back their loan in time.

 He points out that some people become bankrupt because of unexpected incidents like a flood or downturn.  Some get into financial difficulty because they have to foot high medical bills as a result of critical illness or accident victims or retrenched workers who have lost their livelihood 14 .

 Raise company capital. nine out of 10 businesses fail. There are also cases where a good business idea did not quite take off due to weaknesses in execution and implementation. It can be said in innovation. 15 .  Decreasing in company performance.

 you can become a bankrupt when the outstanding sum involved is RM30000 (previously it was RM10000) or more with a default period of six months or more. “Between January and March this year.  only 1.284 or 6.575 declared bankrupt in 2012. 257 people were declared bankrupt because of credit card problems.925 people declared bankrupt  High interest (1.5% daily) 16 .6 per cent of the 19. The number was 5 per cent of the 4.

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20 . Government agency that administers bankruptcy cases and bankrupt affairs.  IAIR is an international body that brings together collective experiences and expertise of government insolvency regulators from jurisdictions around the world.  Member of the International Association of Insolvency Regulators (IAIR).

 Credit card  Hire purchase  Housing loan 21 .

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 AKPK is a wholly owned subsidiary of the Bank Negara Malaysia and is fully funded by Bank Negara Malaysia  AKPK promotes financial wellness by empowering Malaysians to be financially knowledge through:  financial education.  credit counseling  debt management programs 26 .

 AKPK assists retail consumers in rescheduling or restructuring their:  housing loans.  hire purchase loans  personal loans  credit/charge card 27 .

 By promoting awareness and educating the public on how to manage their debts effectively. as well as providing counselling and especially tailored DMP to cater to financially burdened individuals. AKPK hopes to help curb the financial-related issues faced by Malaysian households today  AKPK’s debt management programme (DMP) assists borrowers to work out budgets that will help them meet their loan obligations and living expenses. thereby minimizing non-performing loans and foreclosure of houses 28 .

184 2010 30.521 individuals have attended our counseling services and from that.994 customers have been enrolled into the DMP Type of Cases Counselin g DMP 20062008 73.010 15.349 8.604 21.603 2011 31.137 Total 190.710 16.910 30 June 2012 18. 77.848 16. 190.160 2009 36.994 29 .521 77. Up to 30 June 2012.

Percentage of Debt Management Programme Customers 50 45 40 35 30 25 20 15 10 5 0 44 36 30 and below 20 30 to 40 40 and Above Customer age 30 .

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