Forum
Last updated: 

What are the ways to get our of bankruptcy?

I am bankrupt and I want to get out of bankruptcy as soon as possible. Is there a faster way to get our of bankruptcy aside from just being a good monthly contributor and wait til I finish paying off my target contribution? If there are other ways, what are they and what shouldI do to achieve my goal?

User comments

  • user image

    No Name

    There are four ways to get out of bankruptcy. The first method is by paying off all outstanding debts. The second method is to make a proposal to creditors to repay your debts. The third ways is to apply to the court for an order of discharge. The last method is by fully paying off your target contributions. Depending on which method is used, it is possible to have your name removed from the bankruptcy register. In short there no easy way out and if methods 2 and 3 are easy then it would definitely come with a price.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

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

Can I borrow money physical money from a bank?

Am I eligible to file for a bankruptcy?

Which of my assets can be part of my bankruptcy estate?

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

My business is going down. Now what?

Related Reviews

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

Top up your Alipay account and use it both in China and Singapore

Technically, you can open an Alipay account in Singapore, but you need a Chinese mobile number and credit card in order to transfer funds to your Alipay mobile wallet. If you’re a Singaporean who lives in China, you’ll be able to top up your Alipay account and use it both in China and Singapore. The following merchants in Singapore accept payment using Alipay; ComfortDelGro, Prime Taxis, Universal Studios, Resorts World Sentosa, Singapore Zoo, Metro and Robinsons. Now you can ask your friends to transfer money via HitPay to you instead of getting them to part with physical money.

AliPay / Alipay Singapore E-Commerce

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

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

All conversion transactions cannot be reversed.

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.

KrisPay / Singapore Airlines

Awesome features and top-notch security measures

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.

Revolut / Revolut