There are plenty of misconceptions when it comes to updating bankruptcy records in a credit report. As such, we’ll help clarify things for you.
How long does a bankruptcy record stay in a credit report? • A bankruptcy record is removed after 2 years from the date of full settlement (a settlement / release letter is required) • CTOS will update the information within 14 working days upon receiving the settlement / release letter
What documents are required to update the record? • A settlement letter for legal cases, or • A release letter from MDI for bankruptcy Send your documents to email@example.com
Sources: Malaysian Department of Insolvency (MDI) FAQs | Summary of Rights, Credit Reporting Agencies Act 2010 | Credit Reporting Agencies Act 2010