In a Dept recovery (individual) . After sending a letter of demand and final warning to pay. But the deptor claims he/she has no money to pay or shifted funds else where. What could be done further to recover the debt ? Thanks

Answer :

  • http://legalhelp.com.sg/cache/img/201301/no-image.76x72.crop.jpg

    LegalHelp

    answered on 18/06/2017

    flag as inappropriate

    This would depend on what assets the other party has, and where he or she has shifted the funds. Potentially, you may apply for a garnishee order (to recover amounts in that person's bank) or a writ of seizure and sale (to seize and auction off the person's physical assets), amongst others. Further, where the party has shifted the funds to a company, the court may ignore the separate legal personality of the company on the basis of piercing the corporate veil.

    Did you find this post useful? Please provide your feedback by clicking on the link above.

Comments