6. Can a person declare himself a bankrupt if he is unable to pay his debts?

A person may make an application in court to declare himself a bankrupt as provided under section 7 Insolvency Act 1967 and rule 102(1) of Insolvency Rules 2017. That person is required to file a petition in a High Court stating his inability to pay his debt to the creditors. The debtor shall deposit with the DGI a sum of RM1,500.00 upon the presentation of the petition. All procedures shall be followed as stated in the Insolvency Act 1967 and Insolvency Rules 2017. For further information please contact the nearest MdI branch to seek advice or contact directly with MdI Complaints Unit.