My neighbor owed me money for a year and stil haven't paying me back.

Most loan sharks have a lot of money due to their way of business. Other loan sharks are under by a much bigger company that also lend money. Even though being a loan shark is illegal, they still continue to do this business. They usually do this illegal stuffs to pay their debts. So even though they are doing illegal things, they are doing it to pay other people.

You can immediately report to the authority a potential loan shark given that they gave you a higher interest rate above than legal. Any debtee that threatens or uses violence to collect debt may be reported to the police, illegal or legal, as it against the law. Your failure to pay the debt is not a criminal offense given that you are willing to pay but lacks time.

Unfortunately, you can't hastily go to the police since you have a private settlement and agreement. Personal loan cases or debt cases are considered to be civil case and not a criminal case so the police cannot take action of the said circumstance. Given the situation, you might want to ask him personally.

When collecting a debt from someone, you must do everthing professionally. In this case, the debt collector dealt it in a private settlement. What sets them apart from your neighbourhood ah long is the fact that they try to comply with the law. There’s also an industry Code of Ethics set up by the Credit Collection Association of Singapore, which resolves disputes between debtors and collection agencies; however, the CCAS does not have a great deal of power to enforce the code.

The family, including his wife (unless they have joint accounts) and sons, will not be inheriting the debts that your uncle left them. The debts of your uncle will be payable out of his estate. The executor responsible will then proceed to sell off investments and withdraw the money left in the deceased's bank accounts to pay off his debts. After settling the debts, is the time when the executor will distribute the remaining assets according to the instructions of the deceased’s will.

After filing the Debtor’s Bankruptcy Application and the Affidavit in Support of Debtor’s Bankruptcy Application and the procedures done, there is a 21-day allotment required to instruct the bankcrupt by the Official Assignee of his responsibilities and state his liabilities and assets. His monthly contribution plan will be discussed as well with the Official Assignee.