Faq

Bankruptcy

How does one end up losing everything? We provide some enlightenment on the topic that evokes the greatest financial fear.

What are my rights and obligations as a bankrupt?

It’s common for you to be left feeling as if your rights have been curtailed and that obligations have been levied on you, but with the right advice and explanation of the processes involved, these feelings can be better managed.

Although all your assets will vest in the Official Assignee, you can still own a HDB flat. Travel is restricted and permission is required from the OA (you can be jailed and/or fined if you do not get permission).

It is not illegal to eat at restaurants or shop for quality products.

Will one end up in Court?
What are my employment prospects as a bankrupt?
What does it mean when one is declared a bankrupt?
How might I be discharged from bankruptcy?
How is one made bankrupt?