Which among my properties would b sold to the bankrupt estate and could I use it to pay off my target contributions?

I am eligible to file for a bankruptcy and I am also thinking of filing for one but I don't know how it actually works. I want to know which of my assets would be sold to the bankruptcy estate .I also want to know if I could use my property in the bankruptcy estate to pay off my target contribution.

Search other products or providers:

  • user image

    No Name

    First, if you are declared as bankrupt then all your assets except those that are protected from bankruptcy,such as HBD flats would be sold and the proceeds would be placed in the bankruptcy estate. SecondThe property sold to the bankruptcy estate cannot be used to pay off your target contributions.

    2020.03.24 15:44

    Please leave your knowledge and opinion!

    Related Forums

    What are the ways to get our of bankruptcy?

    Can fraud be an applicable case towards me if I were to file fraud for an individual who claimed my checks?

    Should I voluntarily file for bankruptcy or should I wat for a creditor to di it?

    Can I reposses and own my wife's car?

    Can I borrow money physical money from a bank?

    Who would manage my bankruptcy estate and who decides my target contributions?

    Related Reviews

    Face to face verification via live video call rather than visiting a branch

    FlexM / FlexM

    I think it is more seamless if we could have a face to face verification via live video call rather than having to travel all the way since the idea is convenience anyway. The direct bank to card transfer was good but they could consider including wallet to bank as well. It would also be nice if they include multiple currencies for multiple wallets with attractive packages for Malaysia especially since other wallets/banks don’t have Malaysia. I would also fancy if they ensure that the interface updates promptly especially for remaining balance and suspended cards and include any charges upfront before users make payments

    The range of partner merchants isn’t that extensive

    GrabPay / Gpay Network S

    If you’re a serial Grab commuter, you might already have used GrabPay.They also have a number of partner merchants who accept payment using the GrabPay app.You have to top up your GrabPay account in order to use it anyway and honestly, the range of partner merchants isn’t that great and is mostly limited to small neighbourhood businesses. If you’re serious about using an e-wallet for most of your transactions, you will definitely need to download another e-wallet app for day-to-day use.

    The most common and easiest, method for person-to-person payments

    WeChat Pay / Tencent Holdings

    The most common, and easiest, method for WeChat payments is person-to-person. The person to whom you’re sending money must already be a WeChat friend of yours. You start by composing a message to them and then add a “transfer” to them. When you click on the “transfer” button, you’ll be asked how much money you want to send to them. Enter an amount in RMB. You’ll then be asked to enter your password. Do that, and you’ll see a reddish-orange “transfer” icon appears.The recipient will see this in their WeChat app, and will then have to accept the transfer. Once they do, they will receive it.

    I cant tell if it is the App or my phone malfunctioning

    Mighty Pay / United Overseas Bank

    This app has been lagging badly for these past one week or thereabout. It got stuck a couple of times last week, while this week, it is just says "busy" while entering the app or after I click to transact. Not sure if it is my upgrade to Android 10 or something else. I wonder if it is my phone that is the problem

    Awesome features and top-notch security measures

    Revolut / Revolut

    I like how you can transfer your cash out and it’s liquid and at the same time you can use it for overseas payments. Love the feature of the one- time destroyable card number to protect your wallets from fraudsters. Very simple and straightforward user interface. Topping up the account was easy using credit card and there were plenty of security tools that allows you to turn on & off real time to keep your account safe. Real time viewing of exchange rate in app is definitely a function that I love so that I can do the conversion real time to know how much I will be spending in local currency.

    All conversion transactions cannot be reversed.

    KrisPay / Singapore Airlines

    I transferred the wrong amount of KrisFlyer miles to KrisPay and could not reverse it. As the top up process into KrisPay account is only one-way, I was told I will not be able to process any reversal. Please ensure that the KrisFlyer miles or partner reward points you wish to transfer to KrisPay are correct before proceeding to confirm the top-up. All conversion transactions cannot be reversed.