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

Tomorrow is my marriage with my lovely girlfriend. But today my company, house and my all property have been seized through government due to a lot of loans. So now what will happen next with me?

Buying a car

Can hospitals offer loans?

Can I get a house loan if I recently got discharged from bankruptcy?

If I were to borrow money from the bank how will this work out?

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

Related Reviews

You can actually apply for a credit card and personal loan at the same time

To apply for a UOB Personal Loan, you’ll need either a UOB CashPlus account or UOB credit card as UOB draws from your credit card limit. If you’re new to UOB, you can apply for a credit card and personal loan at the same time but note that terms & conditions like the fee schedule of the credit card will also apply to your UOB Personal Loan. UOB bank is one of the few banks that provide instant approval for personal loans for submissions between 7am to 8pm by new UOB customers.

UOB Personal Loan / United Overseas Bank

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

Citi Personal Loans / Citibank Singapore

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

$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

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

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