Since, bankruptcy is very related to gambling, i hope i am in the right place.
Please advise.
Owed 5 banks, total $80K+.
Have not even pay the minimum sum due jobless/no money.
One bank already served me a Writ of Summons.
What will the bank do next?
Very stressful, what should I be prepared for next?
Thank you so much.
After Writ of Summon, your creditors can go for seizure and sale of your assets, provided you got assets for them to seize.
If you got nothing for them to seize, most likely they will go for judgment and then petition for bankruptcy.
Sis, do not worry too much, failing financially is not the end of the world.
Once a bankrupt, no creditor can chase you for payment, you will feel very relieved no more pestering from debt collectors.
Do not worry about your employer knowing your bankruptcy status, the official assignee will not inform them, unless your employer do a search.
Actually, bankruptcy is a "reset button", you start from zero again financially, no big deal.
If you are a local Singaporean and want to know more, just private message me.
If you are a foreigner, serve you right, just fuck back to your country!!!
