Forum
Last updated: 

What are the terms and conditions for me as a creditor to file a debtor for bankruptcy?

Our company have some debtors who failed to pay their debt of over S$15,000 for motre than two months. The debtors are also suspected to have left the country to avoid paying their debt which would cause our company a huge amount of loss. This is the reason why we want to file the debtors for bankruptcy. What are the terms for us to be able to do so?

User comments

  • user image

    No Name

    When the Bankruptcy order was signed,creditors are given the choice to file their debtors for bankruptcy if they meet the following conditions: The debtor failed to comply wit a statutory demand to pay the debt for at least 21 days and the debtor failed to comply with a court issued execution. Debtors who also fled the country could also be subjected for filing.

    2020.03.24 15:44
  • user image

    Alliance Credit

    We are offering Loans/Investment funding for profitable project at a flexible rate, ranging from individuals, companies and traders globally.. My firm has recorded a lot of breakthroughs in provision of first class financial services to our clients especially in the area of Loan syndication and capital provision to individual and companies. Serious borrowers should reply to our email: alliancecredit@aol.com

    2021.08.17 11:22

Please leave your knowledge and opinion!

Related Forums

I want to loan to study but how?

Can I loan money for our house damaged by a typhoon?

Can loan money be used for damage compensation?

I want to apply for a renovation loan.

Buying a car

I want to new home loan right now. Because my home has been falling due to flooding. So what are requirement document to take home loan?

Related Reviews

HSBC personal loan offers the longest loan tenure of 7 years in Singapore

If you need to borrow a large amount but cannot afford a big monthly repayment, then you should give consideration to the HSBC Personal Loan. This HSBC personal loan offers the longest loan tenure of 7 years in Singapore which means you’ll be paying 7 years’ worth of interest. HSBC is also great for those who need cash urgently as you can get approval-in-principle within one minute and receive the money the next working day. Isn’t that just wonderful?

HSBC Personal Loan / HSBC Bank Singapore

Get interest-free cash in 15 minutes from as low as 0.7% processing fee

With the Credit Card Funds Transfer, you can get interest-free cash in 15 minutes from as low as 0.7% processing fee (EIR from 2.83% p.a.) and also freely choose your preferred tenure of 3, 6, 9 or 12 months. Although they offer a 0% p.a. interest rate, this is valid for a Credit Card Funds Transfer with a 3, 6, 9 or 12 month tenure and is only applicable to the amount transferred pursuant to the application submitted in respect of this promotion. The prevailing interest rate of 26.9% p.a. applies after the expiration of the tenure indicated in the application form.

Standard Chartered CashOne Personal Loan / Standard Chartered Bank Singapore

Sign up for CreditAble in order to cash your credit line using the Maybank CreditAble Term Loan

Maybank does not exactly offer a proper personal loan in itself but its term loan is linked to its personal credit line product. You just need to sign up for CreditAble in order to cash your credit line using the Maybank CreditAble Term Loan but note the terms & conditions and annual fee however. In my personal opinion, the loan amount is small while the interest is high, so it may be best to avoid this one.

Maybank Personal Loan / Maybank Singapore

A great contender for the 7-year personal loans provider

This card is a great contender for the 7-year personal loans lead yet is the relative newcomer on the block. This does not stop them from being very aggressive in Singapore these past few years. Although Bank of China $martLoan’s interest rates are on the high side, Bank of China is generally more lenient than most other banks in Singapore and have a lower minimum annual income.

Bank of China $martLoan / Bank of China

Quick Cash has the lowest published interest rates on the market and no processing fees

Citi Personal Loans / Citibank Singapore

$199 cashback for loans of $1,000 and above if you apply through MoneySmart

Although standard Chartered personal loan’s published rates aren’t that awesome, you still get a much lower interest rate as well as $199 cashback for loans of $1,000 and above if you apply through MoneySmart for your loan amounts of $1,000 to $250,000. Like most of its competitors, Standard Chartered Bank promises next-day cash. You can apply via MyInfo via MoneySmart to get instant approval and loan disbursement

Standard Chartered CashOne Personal Loan / Standard Chartered Bank Singapore