Debt Consolidation or Bankruptcy Application

[InDeepSht]

Guys, any advise on which way to go?

I've done very very stupid thing of trying my luck to get quick big bucks by going to casinoes here and ended up with piled up unpaid credit card bills, hp fbill, tax and unsecured personal loans from lending companies. i'm being hased now by my creditors and those i owe monies.In short, i'm in very very deep shit.

What are the best options to go?
I've came across Singapore Credit Council and some debt management companies here but have not yet contacted any (planning soon this week)..is there still possibility to straighten things with these option?

Or apply for Insolvency (bankruptcy)? Can a declared bankrupt still able to continue working here to be able to pay up?

Or still best option is to buy a ticket now and go...forget abt everything?
(sounds irresponsible but i've heard a few have done it this way..)

Any constructive and helpful advise is appreciated. Thanks. Hope this serves as a lesson to every expat here not to make the same mistake.

[ecureilx]

Guys, any advise on which way to go?

I've done very very stupid thing of trying my luck to get quick big bucks by going to casinoes here and ended up with piled up unpaid credit card bills, hp fbill, tax and unsecured personal loans from lending companies. i'm being hased now by my creditors and those i owe monies.In short, i'm in very very deep shit.

What are the best options to go?
I've came across Singapore Credit Council and some debt management companies here but have not yet contacted any (planning soon this week)..is there still possibility to straighten things with these option?

Or apply for Insolvency (bankruptcy)? Can a declared bankrupt still able to continue working here to be able to pay up?

Or still best option is to buy a ticket now and go...forget abt everything?
(sounds irresponsible but i've heard a few have done it this way..)

Any constructive and helpful advise is appreciated. Thanks. Hope this serves as a lesson to every expat here not to make the same mistake.

You only have 2 things to do: borrow more, or call it quits and seek help

Seeking help, you can go to Credit Counselling, but if you borrowed from money lenders, good luck .. And there are a couple of companies, if your borrowing is less than 100K, you can go for debt restructuring

Doing a runner ? well, money lenders have their own networks to locate you .. less for banks ..

Declaring yourself insolvant, means, despite all govt efforts, no financial institution will give you a job, and so would any large company, so it is effectively your death sentance, either way you turn.

But, sometimes, you have to risk it and fix it ..