Look, it all boils down to whether they file a motion to bankrupt you or not.samir767 wrote:hi seniors,
i need your guidance/advice, since cannot afford lawyers . am on verge of bankrupcy all thks to the 2 casinos. i have some questions. appreciate your response.
1) my ep is gonna expired by end of this year. if i am declared bankrupt. will this affect my ep renewal status.
EP renewal has no relation to bankruptcy unless you have default on bankruptcy assignment which will in fact be an offence
Bankruptcy is not an offence per se i.e. for lack of better word you are poor in controlling your money
Please refer to this website to get more help http://www.ipto.gov.sg/
2) if say worst case , my ep is not able to be renewed , which means i will have to leave SG, but since i am serving bankrupcy i understand i cannot leave SG. wht will happen in such a case , will i be jailed. i cannot pay since no job , but cannot leave country as well.
Go to the website and seek help there
From my limited knowledge this is how it goes
1. You are declared bankrupt or you can find alternative to bankruptcy i.e Chap 13 instead of Chap 11 for eg.
2. If you are declared bankrupt you still require to pay off whatever the court determine the amount you to pay. The OA will ensure this.
3. You will not be jailed as you did not commit any offense.
4. As long as MOM renew EP which I do not see any clause or guideline to prevent you from being renewed just because you are a bankrupt.
5. You have not yet a bankrupt hence try to find alternative repayment schedule. As your debt is with the casino which is own by the Gahmen, they will have the responsibility to rehabilitate you. As long as a resolution is found then stick to it and your EP is not a problem
6. Problem gamblers came in all shape and form ; foreigners or locals.
7. If you are a foreigners there is a statute of limitation that is set i.e "show me the money or else you cannot enter the den"
8. Since you are on EP , your employment pass removes this but the casino holds your FIN number as an assurance.
9. You need to check if you are declared bankrupt which category will you fall into, chap.9 , 11 , 13 etc
10. There is a chance that the casino might bring forward to MOM if you fail to be proactive to repay what you owed.
11. If this happens, you will need to find a local guarantor and you can leave, Easy said than done. Alternatively which has happen before, you will be asked to provide your country of origin and this bankruptcy application will follow you to your home country of origin and the local lawyers will file an application to take effect on your bankruptcy
3) if say i leave SG as it is , will i be declared an offender. will i be able to enter sg a) as tourist. b) for work . say later.
You cannot leave as they will be holding your PP until this matter is settle in court
I doubt you can leave your country of origin let alone return for work or visit if you do a runner
4) if say i leave SG, will the bank authorities file legal case in my home country.
Oh, YES !!
pls help!! i am stressed. its not that i dont want to pay , but i.m not in condition to pay.
Seek help from the website first.
You can do a runner and they can seek to recover the monies owed at your home country. It all depends on the amount and the accessibility to recover. Legal jurisprudence framework differs from one country to another.
The money that you defaulted has already covered by insurance and it has already written under sundry account i.e BAD DEBT
Consider carefully if you want to do a runner as it will bite you back