Credit Card Debts

[sg_worker_b4]

Hi,

I worked in SG for a year and returned to my country 6 years ago. When I visited my country, my credit card was stolen and I didn't know it until after 2 days. My credit card limit was exhausted and I asked the credit card company for a settlement which they flatly declined. So I returned to my country and had unpaid credit cards in Singapore.

If in case I will visit Singapore, will the authorities at the immigration prevents me from entering or worst, detained me?

Thank you so much!

[sundaymorningstaple]

[PNGMK]

Hi,

I worked in SG for a year and returned to my country 6 years ago. When I visited my country, my credit card was stolen and I didn't know it until after 2 days. My credit card limit was exhausted and I asked the credit card company for a settlement which they flatly declined. So I returned to my country and had unpaid credit cards in Singapore.

If in case I will visit Singapore, will the authorities at the immigration prevents me from entering or worst, detained me?

Thank you so much!

Not likely.

[bgd]

Use the search function.

This has come up a lot.

[JR8]

Not likely.

This is incorrect.

If the credit card company took your case to court after you left (probable), and you were found against (highly likely) then you have an outstanding life-time warrant against you. In that case your intended journey will go something like > Changi > police interview > Changi prison > held until you pay up > deportation and/or permanent ban from Singapore.

This is to serve as an example to others who leave Singapore, and think they can take bank cards with them 'home', then max them with no intention of paying off the debt, later claiming they were stolen/lost. Of course that is not your situation though... oh, no.

This has come up a few times before, and it usually coincides with a person leaving the country. Purely a coincidence I am... sure.

And they always seem to raise the question here, right when they have just been offered a juicy new role in Singapore, and hope against they won't have any kind of record.

Not what you wanted to hear, but those are the facts (IMHO).

[Hannieroo]

I read PNGMK as "not likely, you're spinning a tale" but I may be wrong.

[sundaymorningstaple]

I read PNGMK as "not likely, you're spinning a tale" but I may be wrong.

Definitely not spinning a tale. Happens all too often (do a search of this board to see what I mean). What is "Not likely" is theft of his card! Hopefully he gets nailed if he IS spinning a tale about the theft.

[Hannieroo]

Isn't that what I said? AS JR8 said it doesn't happen so much to people who are not leaving.

[Wd40]

Not likely.

This is incorrect.

If the credit card company took your case to court after you left (probable), and you were found against (highly likely) then you have an outstanding life-time warrant against you. In that case your intended journey will go something like > Changi > police interview > Changi prison > held until you pay up > deportation and/or permanent ban from Singapore.

This is to serve as an example to others who leave Singapore, and think they can take bank cards with them 'home', then max them with no intention of paying off the debt, later claiming they were stolen/lost. Of course that is not your situation though... oh, no.

This has come up a few times before, and it usually coincides with a person leaving the country. Purely a coincidence I am... sure.

And they always seem to raise the question here, right when they have just been offered a juicy new role in Singapore, and hope against they won't have any kind of record.

Not what you wanted to hear, but those are the facts (IMHO).

Are you sure, not paying credit card bills can lead to arrest? Any links?

As per my understanding, credit cards are unsecured loans and banks are taking a risk when they give you the loan. Hence the high rate of interest.

If someone decides not to pay credit card dues, they cannot do anything other than share that info with other banks so that you wont get a loan again in future.

Just like when you default on your home loan payments, they can max take away your house. When you default on your car loan, they take away your car. When you default on your Credit Card, which is without any collateral there is nothing to take away.

PS: I dont encourage people from defaulting and personally I have never ever missed my payment and I always pay off the full balance and have never ever taken any kind of loan in my life

[sg_worker_b4]

No. I'm not going back to work in SG. I already have a good job in my own country. I have no intention of going back to Singapore even with a good offer. I am going there just to visit my friends. I'm thinking of actually reconnecting with the credit card company and ask for a settlement. But what's the guarantee that they will agree this time? Anyway, I'll give it a try.I don't want this thing to haunt me for the rest of my life. I hope they'll give a favorable reply this time. Who knows? Thanks for all the feedback! I appreciate it! Whoever created this forum has done a good job!

[zzm9980]

Are you sure, not paying credit card bills can lead to arrest? Any links?

As per my understanding, credit cards are unsecured loans and banks are taking a risk when they give you the loan. Hence the high rate of interest.

If someone decides not to pay credit card dues, they cannot do anything other than share that info with other banks so that you wont get a loan again in future.

Not to encourage the behavior of the OP, but this is my understanding as well. They can force you into bankruptcy which will cause all manner of problems, but I don't think it is criminal. I'd love to see something factual about this though, since my searches are just a lot of people saying "You're going to jail when you land it Changi" (both on this forum and via Google)

[zzm9980]

Oh so this is what I found. Most likely the banks will force you into bankruptcy, but not prosecute you since it is a civil manner not a criminal one.

But these are the consequences of bankruptcy:
http://www.moneysmart.sg/frugal-living/ ... sequences/

Of particular note:

No Overseas Travel

Bankrupts need to inform the courts if they want to travel overseas. Apart from work reasons, this is seldom approved. A bankrupt who goes abroad without permission will be jailed upon return, for up to two years.
There’s also a fine of up to $10,000 (Yeah, that makes sense).

So you commit a criminal offense by travelling overseas. Not quite sure if this counts if you leave before you're declared a bankrupt though. Probably.

[zzm9980]

Oh, here's more:

1. What happens after I have been made a bankrupt?

You will be required to attend at the Official Assignee’s office for a briefing on your responsibilities as a bankrupt and to submit your Statement of Affairs to the Official Assignee within 21 days from the date of the making of the Bankruptcy Order.

...

If you, without reasonable excuse, fail to submit a Statement of Affairs to the Official Assignee or submit a Statement of Affairs which is false, misleading or contains any material omission, it is an offence punishable with a fine not exceeding S$10,000 or an imprisonment for a term not exceeding two years or both.

I'm guessing that saying you left the country and didn't know won't be considered a reasonable excuse.

) Are there offences under bankruptcy?

Failure to seek the necessary permissions and disclose the relevant information in the items listed at 1-5 above may result in offences under the Bankruptcy Act (Chapter 20) being committed. Other bankruptcy offences include:

failing to file your Income and Expenditure statements;
non-disclosure of information relating to your affairs and making misrepresentations to the Official Assignee; and
leaving or attempting to leave Singapore with your property in order to defraud your creditors.

[sundaymorningstaple]

So, what is being said, basically, is like 377A. The provision is on the books, but whether or not it is enforced would be up to the authorities.

[PNGMK]

Not likely means not likely, but not impossible. As this problem grows... I'm sure we'll see criminal enforcement and debtors prisons soon enough.