Some people only discover they have been made a bankrupt when they apply for a loan from a financial institution. Now, there’s an easy way to find out your bankruptcy status.
- MyDI smartphone app available for download from May 11
- Second phase of app enables bankrupts to apply for discharge
- Insolvency Act to focus on social guarantors
Updated: The app does not seem to be working. Instead, check bankruptcy status at https://www.myeg.com.my/services/insolvensi.
Taking the hassle out of visiting the Insolvency Department of Malaysia, the MyDI (My Department of Insolvency) smartphone app will allow you to search on your bankruptcy status online.
Minister in Prime Minister’s Department in charge of Legal Affairs Datuk Seri Azalina Othman Said launched the app today which will be available for download from May 11.
She said the first phase of the app will only allow checking of bankruptcy status. For the second phase, the app would enable bankrupts to apply for release from the Insolvency Department.
The Bankruptcy (Amendment) Bill 2016, which was tabled in Parliament for its first reading in November last year, will be tabled for a second reading in the current sitting. It is expected to receive the consent of the Yang di-Pertuan Agong next month and would be known as the Insolvency Act. The bill will focus, among others, on the social guarantor and those who became guarantors for education grants and purchase of vehicles and property.
“There are many people who become ‘victims of circumstances’, especially when they sign as guarantors for education loans. It is not fair to them,” Azalina said. “With the amended act, we hope to provide assistance to help them in getting an early discharge.”
She added that the amendments to the Bankruptcy Act would also establish a ‘rescue mechanism’ of which the public and private sector workers can go to the Insolvency Department to apply for the ‘rescue package’.
Azalina said concerned parents could use the app to check the bankruptcy status of their future daughter or son-in-law while employers could also check the status of prospective employees.
Emphasising the convenience of the app, Azalina said you can even check your bankruptcy status in bed
As of today, a total of 292, 000 Malaysians have been declared bankrupt, she said.