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

Is it safe to borrow money with 30% interest rate?

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?

Can I get a another loan even though I have debts?

Is this loaning agency legit?

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

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

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

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

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

DBS personal loans are based on either your credit card or personal line of credit

DBS personal loans are based on either your credit card or personal line of credit. Thus if you have DBS credit card or DBS Cashline and a DBS deposit account, you can apply through internet banking and get your loan processed immediately and credited instantly into your account. However if you don’t have a DBS credit card you can still get this loan, but you will have to furnish your income documents and obviously you won’t get the funds right away

DBS Personal Loan / DBS Bank