Best Bankruptcy & Debt Lawyers in Johor Bahru

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Azwad Ihsan & Co

Johor Bahru, Malaysia

English
Established in 2014, Azwad Ihsan & Co. (AICO) has evolved from a modest inception into a distinguished law firm in Johor Bahru, Malaysia. Founded by partners with over 11 years of combined legal experience, the firm has built a reputation for delivering comprehensive legal services across various...
ATIKAH & ASSOCIATES

ATIKAH & ASSOCIATES

Johor Bahru, Malaysia

Founded in 2024
2 people in their team
English
ATIKAH & ASSOCIATES mainly handles sale and purchase transactions (sub-sale and housing developer works), financial documentation, transfer of ownership, post-auction transactions, perfection and discharge of properties, tenancies, wills writing and probate and administration of estate...
Tay Chambers

Tay Chambers

Johor Bahru, Malaysia

Founded in 2020
12 people in their team
English
Chinese
Malay
Tay Chambers  is a full-service law firm established in Johor Bahru, Malaysia.We offer a comprehensive suite of legal services under three main practice areas, namely(i) Dispute Resolution & Litigation;(ii) Real Estate & Conveyancing; and(iii) Corporate, Commercial & Business...
林暐杰律师事务所 (新山律师楼)Lim Chambers Law Firm Johor

林暐杰律师事务所 (新山律师楼)Lim Chambers Law Firm Johor

Johor Bahru, Malaysia

English
A professional law firm offering expert legal services.

Shook Mei & Partners

Johor Bahru, Malaysia

English
Shook Mei & Partners, located in Bukit Indah, Johor Bahru, Malaysia, is a distinguished law firm specializing in conveyancing, family law—including divorce, custody, guardianship, and maintenance matters—real estate, and probate and administration. Founded by Goh Shook Mei, who earned her...
Messrs TAN, DAHA & FADZILAH

Messrs TAN, DAHA & FADZILAH

Johor Bahru, Malaysia

Founded in 2016
8 people in their team
English
The Firm was established on 01-06-2016 with spectrum of clients not only in Johor Bahru but also from outstations by more means of access and delivery. Our firm provides comprehensive range of professional services covering litigation and non-litigation works. More particularly the firm...
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About Bankruptcy & Debt Law in Johor Bahru, Malaysia

Bankruptcy and debt laws in Johor Bahru, Malaysia, govern the legal framework and processes for individuals and businesses facing financial difficulties. These laws aim to provide a fair and structured approach to manage debt, protect creditors, and support debtors in resolving their financial obligations.

Why You May Need a Lawyer

Seeking legal advice in bankruptcy and debt situations is crucial to navigate the complexities of the legal system and protect your rights. Here are some common situations where you may require a lawyer:

  • If you are facing overwhelming debt and considering bankruptcy as an option.
  • If you have been served with a bankruptcy notice and need assistance in responding.
  • If you are a creditor seeking to recover outstanding debts from a debtor.
  • If you are considering debt consolidation or negotiation with creditors.
  • If you need guidance on the legal implications of bankruptcy and debt on your assets, such as properties or businesses.

Local Laws Overview

In Johor Bahru, Malaysia, the key aspects of bankruptcy and debt laws include:

  • The Bankruptcy Act 1967, which outlines the procedures and regulations related to bankruptcy, including the responsibilities of debtors and creditors.
  • The Insolvency Act 1967, which governs the laws related to corporate insolvency and arrangements between debtors and creditors.
  • The Financial Insolvency Regulations 2010, which provide guidelines on bankruptcy proceedings, debt recovery, and the calculation of dividends for creditors.

Frequently Asked Questions

Q: What is the legal definition of bankruptcy in Johor Bahru, Malaysia?

A: Bankruptcy is a legal status declared by a court when a person or business fails to repay debts. It involves the transfer of financial control to a trustee who manages the debtor's assets to repay creditors.

Q: How long does bankruptcy last in Johor Bahru, Malaysia?

A: Bankruptcy typically lasts for a period of three years, but it can be extended up to five or six years depending on the circumstances and the court's decision.

Q: Will bankruptcy completely eliminate my debts?

A: While bankruptcy can provide relief from overwhelming debts, it does not eliminate all debts. Some debts, such as student loans and court-ordered restitution, may still need to be repaid even after bankruptcy.

Q: Can I keep any assets if I file for bankruptcy?

A: The bankruptcy laws in Johor Bahru, Malaysia, allow for certain exemptions that may protect specific assets from being seized to repay debts. However, the extent of exemptions depends on various factors, such as the value and type of assets.

Q: How can I rebuild my credit after bankruptcy?

A: Rebuilding credit after bankruptcy takes time. You can start by establishing a budget, managing your finances responsibly, and obtaining a secured credit card or small loan to demonstrate your creditworthiness.

Additional Resources

If you require legal advice or further information on bankruptcy and debt in Johor Bahru, Malaysia, you may find the following resources helpful:

  • The Insolvency Department of Malaysia: https://www.insolvensi.gov.my
  • Johor Bahru Bar Association: http://www.johorbahru.bar

Next Steps

If you require legal assistance or advice in bankruptcy and debt matters in Johor Bahru, Malaysia, it is recommended to:

  • Research and shortlist reputable lawyers or law firms specializing in bankruptcy and debt law.
  • Contact the selected lawyers to schedule initial consultations and discuss your specific situation.
  • Prepare relevant documents, such as loan agreements, bankruptcy notices, and financial statements, to present during the consultation.
  • Consider the lawyer's expertise, experience, and fees before finalizing your decision on legal representation.
Lawzana helps you find the best lawyers and law firms in Johor Bahru through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Bankruptcy & Debt, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Johor Bahru, Malaysia—quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.