A bankrupted family member got fined under the bankruptcy act for leaving singapore without permission of official assignee. What is the consequences if we are unable to pay the fine? Can a family member loan the sum of money to the bankrupt, with an IOU?

Answer :

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    answered on 18/05/2018

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    Failure to pay a fine under the Bankruptcy Act may result in imprisonment. A bankrupt is not allowed to obtain credit of $1,000 or more without revealing his bankruptcy status. However, he can get small personal loans and repay them.

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