Forum
Last updated: 

Will my family members be required to help me repay my debt?

I am in a huge amount of debt and I know that I need to file for a bankruptcy but I am afraid to file for one because I am afraid that once I am declared a bankrupt, my family members such as my spouse and my children would be required by court to help me in paying my debts. would my famiy members be required to help me repay my debts and if so how do I keep that from happening?

Search other products or providers:

User comments

  • user image

    No Name

    You don't have to worry about your family being required to help you pay off your debts. Your family will only be liable for your debts if they are co-owners of the debt with you. For example: you took out a home mortgage in both you and your spouse's names. Family members who are guarantors for your loan can also be made bankrupt if they are unable to repay it.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

Banking

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

Banking

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

Banking

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

Banking

What are the roles of an official Assignee?

Banking

WHat would happen if I have been declared bankrupt?

Banking

Would my future employers know if I ever filed for a bankruptcy in the past?

Related Reviews

Banking

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

Banking

Convinence using the App to search for great deals nearby

FavePay is the new kid on the block somewhat, yet they’ve been growing aggressively. Fave Pay is now available not only in Singapore but also in Johor Bahru, Kuala Lumpur, Penang, Jakarta, Bali and other Malaysian and Indonesian locations.The main thing that sets FavePay apart from the rest is that they offer generous deals and cash back at many of the merchants on their list and you can even use the app to search for deals nearby. Rather than shopping and retail, Fave Pay is focused on dining and experiences, and their merchant selection reflects that

FavePay / Fave Group

Banking

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

Banking

No refunding from wallet if there is an error in the process of toping up an amount

This platform provides zero flexibility of refunding from wallet if there is an error in the process of toping up the amount. Been told by Customer service that the only way is to terminate the account and the refund will be credited after 2 weeks. The UI as well have to be clear at the home screen on which default payment mode are we on as I've been told that the payment mode might switch every time after updating the app

NETSPay / Electronic Transfers Singapore

Banking

You don’t need to top up credits to send a transfer

OCBC PayAnyone works in the same way as DBS PayLah. The main difference however, is that while you can still register an account with DBS PayLah without a DBS/POSB account, OCBC Pay Anyone is connected to your bank account so you need an OCBC account to use Pay Anyone. The transactions are then credited to and deducted from OCBC savings or current accounts. You don’t need to top up credits.The good thing is that the recipient you are sending money to via Pay Anyone doesn’t need the app to receive the funds. They will receive an email link whereby they can click and key in their bank information to receive the money. However, if you already bank with OCBC, you will have the option of using OCBC PayAnyone to directly pay from your OCBC savings or current accounts.

OCBC Pay Anyone / Oversea-Chinese Banking Corporation

Banking

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