Forum
Last updated: 

Can I still apply for a loan after declaring bankcruptcy?

I started a business in my mid 20s. I have been investing all my time and effort since then. It has been my family's main source of income and we greatly rely on it. As years have passed I am always confident of our income not until the our family has faced a serious challenge in our life as my wife have gotten sick. I started to lose focus on my business and started having a pile of debts.

User comments

  • user image

    No Name

    Starting a business is a great idea but has a lot of risks. When your business has reached its limit, it will go to bankruptcy. It will surely go to liquidation to compensate the debts that has been occured to the creditors. Now, you can still open a business even though you have debts. It depends on the business you are planning.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

Can hospitals offer loans?

Can loan money be used for damage compensation?

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

I want a business tomorrow.

Is this loaning agency legit?

My wife always does demand expensive things like the diamond necklace and ring clothes etc. But my salary is out of the demand for her. Because I can't buy expensive things. So how should I keep happy her?

Related Reviews

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

Apply for a Citi Quick Cash to pay for urgent expenses such as medical bills and business expenses,

One can us the Citi Quick Cash for big ticket purchases and projects like home renovations while you can basically use the Citi Quick Cash for any type of expenses. On the other hand, you can also apply for a Citi Quick Cash to pay for urgent expenses such as medical bills, business expenses, unexpected repairs and much more. With Citi Quick Cash, the possibilities are in fact endless. You can also convert your unutilised credit limit to cash in your Citi Deposit Account in 60 seconds. A major plus is that you can get the cash on your terms and anytime on your mobile phone and repay with plans up to 60 months. No documents required and no hidden fees.

Citi Quick Cash / 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

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

Citi Personal Loans / Citibank Singapore

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

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