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BANKRUPTCY INFO :

  • Filing of bankruptcy till hearing takes about 4 – 6 weeks.
  • You need to file your Statement of Affairs (SA) online within 21 days from the date of the bankruptcy order.
  • Creditors cannot take further legal proceedings against you to recover any debts incurred before your bankruptcy.
  • An important exception involves fines for breaches of the law. Bankruptcy does not protect you from payment of these, including taxes owed to the Inland Revenue Authority of Singapore, which have to be settled even after your discharge from bankruptcy
  • If you:
    • receive any demand for payments from your creditors or;
    • receive a notice of court action from your creditors or;
    • are approached by your creditors who you owe money after the making of the Bankruptcy Order, You should advise your creditors of your bankruptcy status and forward the documents received to the OA.
  • If the mobile phone, home phone, broadband is/are under your name, you need to transfer the ownership to someone who is above 21 years old and is not a bankrupt.
  • You may continue to take taxi, patronize restaurant and travel overseas.
  • Before you travel overseas, you need to apply online to seek OA approval first. You must give OA at least 14 days notice to process.
  • Bank accounts that bear your name (fixed deposit, joint account, current, savings, CDA account) will be suspended the following week after your bankruptcy order is being made. A new savings bank account of your choice will be given to you.

Unlike other companies in the market that didn’t provide after service after bankruptcy, we are the only company that see the client through their entire bankruptcy period until they discharge and provide all necessary assistance to them during these few years.

For more enquiries, please contact us @ 9675 7309.