Advertisement

Bankruptcy and working overseas

1914 Views  ⚫  Asked 8 Years Ago
asked on Jun 14, 2010 at 05:36
by   blur queen
edited on May 15, 2017 at 08:27
 
I just knew that I've been sued by a finance company and already become a bankrupt thru newspaper without receiving any notice or summons from law firm or the finance company.

I got few questions and need your advice:

1. What should I do after knowing this matter?
2. I am now working at Singapore and will be back from Singapore to Malaysia every week. Is it after bankruptcy, I can't work in Singapore again? How about my international passport?
3. How will bankruptcy influence my renewal of Singapore Permanent Resident (PR) status or assets in Singapore?
4. How about my money in my saving account in other bank? Will it be "Frozen"? I am using this bank account to pay my house installment by Giro every month.
5. I own a house which is "join name" with my mother, will that house will be auctioned by the bank?
6. How to release from bankruptcy status?

Thank you very much.
0 had this question
Me Too
0 favorites
Favorite
[ share ]
7 Answers

answered on Jun 15, 2010 at 22:17
by   ccss
edited May 15, 2017 at 08:37
 
@blur queen

1. You should check with the respective branch of the Malaysia Insolvency respective for more info. But please take note, it might lead you to travel restriction issue.
2. You will face issue when you try to renew your international passport by then. So sometimes it is good to immediately report if you didn't owe the money.
3. Once you don't have a valid international passport, you can't even stay in Singapore.
4. For safety change to other name account.
5. Need consult lawyer.
6. Clear all the debt or follow the Insolvency Department's process.. it will take 5 years or 10 years. Not worth if you owe less money.
0 found this helpful
Helpful

answered on Jun 16, 2010 at 00:48
by   Anonymous
edited May 15, 2017 at 08:37
 
@blur queen,

If you've already been declared a bankrupt, how come you can still use your international passport? Strange.
0 found this helpful
Helpful

answered on Jun 21, 2010 at 08:02
by   LoyerBrook
Do not scratch the wound that will never heal. It is NOT the end of the World!

Just Prepare yourself for the worst that MIGHT happen, but your worry could be Trivial or Irrelevant too.

You are travelling every week means the Malaysian Immigration has NO information about your Status yet.

It should not affect your Singapore PR. It is entirely two different Countries. You are NOT MADE bankrupt in Singapore.
0 found this helpful
Helpful

answered on Jun 23, 2010 at 08:42
by   Lawyer Gurusamy
edited May 15, 2017 at 08:40
 
3. Once you don't have valid international passport, you can't even stay in Singapore.

Wrong. If blur queen is a Singapore PR, she has a Singapore IC. She can stay forever in Singapore. Leaving Singapore is another issue. Many Singapore citizens or PRs have no passport, only NRICs.

If she returns to Malaysia and her passport is voided, she cannot return to Singapore then and could lose her Singapore PR. Singapore PR may require that the holder resides in Singapore for at least 6 months in every 5 year period.
0 found this helpful
Helpful

answered on Jun 23, 2010 at 16:15
by   notalawyer
edited May 15, 2017 at 08:41
 
@Blur Queen,

Having a Notice of Bankruptcy advertised in newspaper does not mean that you are already a bankrupt. There are still few more steps that the bank needs to take to make you a bankrupt.

If you are not yet a bankrupt, there is nothing to release from. That is why your passport still can use and renew. Enjoy your freedom while it lasts...
0 found this helpful
Helpful

answered on Jun 24, 2010 at 13:56
by   ccss
edited May 15, 2017 at 09:02
 
@Lawyer Gurusamy,

No offence. I am Singapore Permanent Resident (PR). PR status needs to be renewed every 5 years or 10 years. So it is not permanent, max only 10 years. So if her passport expires within the 10 years and can't be renewed, think she can hardly renew her PR status. Like what you said, the Singapore government will need her to have a passport with a valid date passport to renew her PR.

For your info, Singaporean have their own passport.
0 found this helpful
Helpful

answered on May 9, 2017 at 02:27
by   Kelvin wong
edited May 15, 2017 at 09:13
 
I am Singapore permanent resident (PR), if I am declared a bankrupt, can the Singapore government take any action against my Malaysia property? 
0 found this helpful
Helpful

Your Answer





By posting your answer, you agree to the privacy policy, cookie policy and terms of service.