Asked by Keneng Boo
Hi Propertyguru,
I've got a loan for a commercial property that's been abandoned for more than 10 years now in Selangor. I have stopped paying a few months ago with 100+K left. My question is can or will the bank make me bankrupt for that? Every article on the Web says the bank will seize my property and auction it, then commence bankruptcy proceedings. However in my case the property is unfinished. Also, I now live overseas and recently have also renounced my citizenship if that makes any difference.
Appreciate your help and advice.
Joe Eng
I've got a loan for a commercial property that's been abandoned for more than 10 years now in Selangor. I have stopped paying a few months ago with 100+K left. My question is can or will the bank make me bankrupt for that? Every article on the Web says the bank will seize my property and auction it, then commence bankruptcy proceedings. However in my case the property is unfinished. Also, I now live overseas and recently have also renounced my citizenship if that makes any difference.
Appreciate your help and advice.
Joe Eng
60 views