Can I leave Singapore with credit card debt?
In my current situation, I have a lot of debt to pay in Singapore. I used up my credit cards at its limit and now I am bankrupt. I am now leaving this country for my safety and to find another path for me to redeem. I do not have any choice, I will sure leave this area and go abroad. What will happen to me?
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In the situation that the amount owed to all of your creditors is at least $10,000, you can be made bankrupt in Singapore. The problem however isn’t just being declared bankrupt. The Official Assignee then seizes your belongings which in Singapore can include, property, tools of your trade, property held in trust for someone else, and even clothing and furniture. In fact, the any property can basically be seized including future property that the bankrupt person may come into possession in the future.