Relocating to Singapore from the UK

[davel101]

Hi All,

We’re due to arrive in Singapore within the next four weeks and both have jobs lined up. However, I’ve have today learned that one of my Credit Card companies doesn’t like the idea of me leaving the country and has threatened to make me bankrupt if I do so.

Can anyone advise me what would happen, if anything, to me in Singapore if I was made bankrupt in the UK? Would I need to inform anyone? I know the bankruptcy laws in Singapore are very strict but as I’m potentially not being made bankrupt in Singapore would I be subject to them. Could it effect my EP or ability to get a PEP?

Any help would be greatly appreciated as we’ve no intention of changing our minds and the current financial climate in the UK is one reason why we’re leaving.

Many Thanks.

[sundaymorningstaple]

One would wonder why a Credit Card company was threatening you with bankruptcy? I've not heard of any doing that before unless they maybe think you are potentially going t default on your bill.

Don't know if there are any extradition treaties or not. It's been a long time since I got my PR so I don't really remember if there is anything there or not. I was made a bankrupt in 1973 after being wiped out with a double whammy (Hurricane Agnes in 1972 and a divorce 6 months later). Didn't seem to hurt me but then again, the statute of limitations was up by the time I came here in '82 anyway. Wish I could help you but I don't know.

[davel101]

Thanks for the reply.

They don't need a reason for their actions. We've got local councils making people bankrupt for owing £600 of council tax. The credit card company says they won't allow me to have the account if I'm not resident in the UK so want full settlement now.

It’s a hefty balance that I’ve been paying off by way of an agreed plan and I think that’s why they’re being so aggressive. I don’t doubt their sincerity as they’re known for it, hence my search for advice.

[sierra2469alpha]

Dave - sounds a little strange. The Australian laws are pretty clear on this, and they are modelled on the UK law. A similar situation happened to a friend of ours back in Oz - (Credit card company said) leave and we will bankrupt you - however, it's only a court of law that can bankrupt you. Our friend wasn't running away from her debts, however - bad divorce, however she also had all her husband's debts in her name, which she didn't know about.

I suggest you contact a local legal practioner who can advise you.

I can advise that Singapore has extradition treaties for civil fraud and criminal matters. As you're in the UK check the Home Office website, and also check http://www.oecd.org/dataoecd/4/44/39368700.pdf which, with a very cursory reading, might give you some further information.

HTH, P

[Edited: correctness]

[davel101]

I’m not afraid of being extradited but I don’t know that if it should happen do I have to inform anyone. As I’m due to start a job in a managerial position in Singapore which wouldn’t be allowed without prior approval if I went bankrupt in Singapore I wondered if I would be bound by the same restrictions. An effective deportation if my EP was cancelled.

Can anyone point me in the direction of a good local lawyer who could advise me on this before I arrive?

[durain]

if you have worked out a plan with the cc company and you are paying it back as planned, then how can they stop you from going abroad. you got to ask them where in the T&C that they have a right to make you bankrupt because you are going abroad. i can understand it if you are doing a runner, but even so, you need to be running first (like miss your repayment) before the cc company can take action.


p/s how much are we talking about? ballpark?

[sierra2469alpha]

Dave - again I'd suggest you check locally (i.e. the UK) first. Make sure you situation is all "cool" there LOCALLY and then in parallel check the details over here.

P
[Edited: Friday night and a little tired - one correction]

[Plavt]

This seems a little strange to me; debt is a civil matter therefore if you choose to leave the country there is nothing anybody can do about it (possible exceptions: income tax or other monies owed to government). However, if you have assets of (e.g. house, car, antiques etc) and the creditor is or becomes aware of that then you can be sure they will take steps to recover some of their losses. Simply bankrupting somebody on the basis of leaving the countries sounds more like an empty threat. In the first instance the creditor would have to pay at least £750 for the petition plus lawyers fees which they are not likely to do since they would be 'cutting their nose off to spite their face' that is they would get nothing and you would benefit by not owing them or anybody else a penny! As far as I am aware from a previous post Singaporean banks are not interested in your financial affairs or what they were in another country although in Australia they will check should you apply for credit or start a business.

As I said most likely a threat, you can check with the UK national debtline;

http://www.nationaldebtline.co.uk/

Ps: Sounds to me like you have told them too much as it would seem from your post they are aware of your intended move.

[davel101]

Thanks for the replies.

I’ll just let the CC company do what it wants to do. If they do the stupid thing then I’ll have to deal with it although I’ll have to think twice when I see the question – Are you an un-discharged bankrupt? - on a Singapore form. It seems that this question comes up a lot as I’ve seen it multiple times whilst applying for jobs.

[Plavt]

Thanks for the reply.

They don't need a reason for their actions. We've got local councils making people bankrupt for owing £600 of council tax. The credit card company says they won't allow me to have the account if I'm not resident in the UK so want full settlement now.

It’s a hefty balance that I’ve been paying off by way of an agreed plan and I think that’s why they’re being so aggressive. I don’t doubt their sincerity as they’re known for it, hence my search for advice.

From what you say here it would seem somebody has 'got on their high horse'. You have agreed a plan and unless your circumstances have changed (.i.e. your finances have improved) then it is doubtful if any court would demand an increase in repayment. Be wary of what you hear regarding the council tax that comes under a different law and is pursued more vigorously.