Forum
Last updated: 

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

I filed for bankruptcy but I'm not sure how to manage it. I've heard that the court would assign someone to help me manage the bankruptcy estate but I also wonder if I could get someone else to manage it for me. I also want to know who decided my monthly and target contributions and if my monthly contributions would be deducted from my monthly salary.

User comments

  • user image

    No Name

    Typically, the cour assigns an Official Asignee to manage the bankruptcy estate so that your assets would be administered and distributed as fairly as possible among the creditors but the bankruptcy estate can be managed by a private trustee who can either be an accountant or a lawyer. If you are emplyed, you have to make a monthly contribution that is paid to your bankruptcy estate which would go towards fulfilling a target contribution that is decided by the Official Asignee.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

I just returned a huge amount of money to the bank

What rules should I keep in mind when filing for bankruptcy?

Would it be possible for someone else in the business owner's family to file for bankruptcy on behalf of the owner?

What are the assets that are protected from being part of my bankrupt estate?

How much does it cost to file for bankruptcy?

I cannot pay these expenses anyomore

Related Reviews

A robust application built with simplicity and fast payments in mind

Yoyo Wallet is a robust application built with simplicity and fast payments in mind. You connect your cards (debit and credit) or Apple Pay once and start using your smartphone to make payments. It allows you to keep all your financial detail in a centralized place, gain no additional wallet weight and take only your smartphone on your shopping experiences. The solution is ultra-secure; your financial details are stored by a trusted payment service provider and not in your smartphone or by Yoyo.

Yoyo Wallet / Yoyo Wallet

A mobile app that allows you to manage your credit card account and payment services

The BOC SG eWallet is a new mobile app that allows you to manage your credit card account and payment service. You can use your BOC SG eWallet mobile app to bind/unbind your BOC Unionpay credit card for QR Code payments, QR transactions history tracking, etc.Both consumer-presented and merchant-presented QR scanning functions are available. Your transactions made via the mobile app is secured. For more details, you can click on “Security Tips

BOC SG eWallet / Bank of China

Enhance mobile payment capabilities

Liquid Pay is a much smaller player in the scene, but I am seeing more and more of that bright blue logo nowadays. Liquid Group is a payments technology company that works with financial institutions and telcos to enhance mobile payment capabilities. Amidst the competitive market, it seems that Liquid Pay has an uphill battle acquiring customers from other mobile wallets that boasts more integration with other uses like GrabPay and DBS PayLah. Yet, given the circumstances, Liquid Pay is surprisingly widely accepted at food and beverage outlets.

Liquid Pay / Fave Group

Hassle free overseas usage with good rates as compared to the rest of the competitors

YouTrip is actually a god-sent card for those who are conscious of amount spent especially when travelling overseas. With predetermined exchange rate, there is no shock and surprises after a well-deserved holiday trip with all the shopping and nice food. Hassle free overseas usage with good rates as compared to the rest of the competitors. One suggestion is to avail your card into digital card wallet like apple pay or Samsung pay so that it will afford you a fully hassle free usage without the need of bringing the physical card. Use it anytime anywhere with just your phone.

YouTrip / You Technologies Group

Dash all the way from Singapore to Thailand

Singtel Dash is an e-wallet, so once you download the Singtel Dash app and log in, you can top up your dash account. It also works as a virtual visa account, so the account comes with its own unique 16-digit Dash Visa virtual account number and security code. Singtel Dash is can be used in Thailand in as well as in Singapore, making it more attractive to Singaporeans who frequently travel to Thailand. The app also lets you transfer money to another account, remit money overseas and, if you have an NFC-enabled phone, tap in and out of train and bus rides.

Dash / Telecom Equipment

Instant Peer to Peer Payment

Unlike other banks with limits set at $999 or thereabout, if you’re a DBS/POSB customer you can set your daily transfer limit up to S$2,000. There’s also a wallet limit, which caps the amount you can hold in your PayLah! Wallet at any one time, which is up to S$2,000 for DBS/POSB account holders, and S$999 for other users.PayLah! Is a mobile wallet, for making peer to peer payments and spending money in participating stores, restaurants and taxi. You’ll need to have an eligible smartphone and download the PayLah! app to get started

Just PayLah! / DBS Bank