Pimpmycar Neutral Newbie September 25, 2009 Share September 25, 2009 Husband in mid 50 is unable to pay off credit card loan of 60k, their 3 room hdb flat had been fully paid off. Here the question guys, what can the bank take from their home, old clothes underwear old cupboard ? They got a 11yr daughter if that the case will they take her shoes and toys laptop and bed also. Some of the item are bought by the monther so how to prove ? ↡ Advertisement Link to post Share on other sites More sharing options...
Mr_b20 6th Gear September 25, 2009 Share September 25, 2009 faster keep all the valuables at other pple house 1st lor.... Link to post Share on other sites More sharing options...
Rickster 5th Gear September 25, 2009 Share September 25, 2009 They can consider selling the 3 room flat and downgrade to a cheaper location? My colleague got into credit card debt of over 40K many years ago and he sold his 5 room flat and downgraded to raise funds. After that painful lesson, he limits himself to 1 credit card onli Link to post Share on other sites More sharing options...
Lex250 Clutched September 25, 2009 Share September 25, 2009 I think they cannot seize the HDB flat Link to post Share on other sites More sharing options...
Pimpmycar Neutral Newbie September 25, 2009 Author Share September 25, 2009 Thier house dame poor not much expensive item only a tv washing machine and fridge, lol they bank also du lan nothing to take hahahahha. But the question is how about the clothes and cupboard and shoes that belongs to the daughter and wife ? they got warrenty card and invoice for the washing machine bought by the wife. If like that how ? Link to post Share on other sites More sharing options...
Thug Clutched September 25, 2009 Share September 25, 2009 Since fully paid...ever thinking of mortgage? At least you are still staying there... They will come in ur house and put stickers. Be it tv, sofa, fridge etc. Doesn't matter who paid for it. Anything inside the house and the house under the husband's name...all belongs to him. Link to post Share on other sites More sharing options...
Thug Clutched September 25, 2009 Share September 25, 2009 (edited) I think they cannot seize the HDB flat Thier house dame poor not much expensive item only a tv washing machine and fridge, lol they bank also du lan nothing to take hahahahha. But the question is how about the clothes and cupboard and shoes that belongs to the daughter and wife ? they got warrenty card and invoice for the washing machine bought by the wife. If like that how ? Why not? My old house almost seized by them. However, is the house under the husband name? If not...quickly change name to wifey. Edited September 25, 2009 by Thug Link to post Share on other sites More sharing options...
Pimpmycar Neutral Newbie September 25, 2009 Author Share September 25, 2009 My uncle is sue for bankruptcy but the issue is the hdb is under his and my aunt name. so if my aunt can provide the invoice for item she paid for will they take it too. Link to post Share on other sites More sharing options...
Tjy Neutral Newbie September 25, 2009 Share September 25, 2009 my uncle and aunt faced such situation b4 also... i tink my uncle owe abt 35k credit card debt.. .. then he can't pay back.. they got 2 kids.. and stay in 4room flat... the subordinate ccourt ppl came and they stick sticker all around the items of the house.. but my aunt went to SOMPA(swear) that the items are bought by her and none of the items belong to my uncle. i dunno where she went to do it , but you can check it out with the subordinate court... nth was taken away after she went to swear.. end up court and bnak decided on letting them pay by installment as they still haf job and income.. it's been at least 1 yr plus liao.. and they still paying the installment.. wat to do ? if wanna use credit card, gotta be prepared to pay for it.. if really bo bian, then work hard lo.. request pay by installment... good luck! Link to post Share on other sites More sharing options...
Pimpmycar Neutral Newbie September 25, 2009 Author Share September 25, 2009 Guys thanks for your fast reply, so how to fix this problem. Link to post Share on other sites More sharing options...
Pimpmycar Neutral Newbie September 25, 2009 Author Share September 25, 2009 The computer and handphone are under my aunt name so still need to sompa that it's her that she bought the item. so troublesome. Link to post Share on other sites More sharing options...
Altivo 3rd Gear September 25, 2009 Share September 25, 2009 (edited) has your uncle tried to walk out some kind of payment scheme with the bank? ie: some long term installment etc cos seizing the appliances doesn't really benefit the bank... how much are these stuff worth anyway? Edited September 25, 2009 by Altivo Link to post Share on other sites More sharing options...
Thug Clutched September 25, 2009 Share September 25, 2009 My uncle is sue for bankruptcy but the issue is the hdb is under his and my aunt name. so if my aunt can provide the invoice for item she paid for will they take it too. Sued. Which its too late to change name? My dad had a biz failure during 1998 and he foreseen the situation coming and sold the house. Bank pple came in and put stickers to almost everything b4 he sold the house. Today...the tv with the sticker is still in my current house. Ur uncle got children? Above 21? Can try transfering the name to them or sell? I dun know wads the charge but if he can mortgage the house and repay the debt isn't it better than bankruptcy? Bankruptcy is no fun. Today almost everything my dad owns is under my name. He cannot have anything under his name. Not every a simple credit card although he is long out of bankruptcy. Link to post Share on other sites More sharing options...
Pimpmycar Neutral Newbie September 25, 2009 Author Share September 25, 2009 He lose his job 2 yrs ago earning 2.8k a month, now only 600 dollars a month doing odd jobs. The stuff or item are just tv washing machine fridge and some micro oven, what is most important are the clothes to my auntie which she bought herself, and don't think anyone will keep the invoice for it right. Link to post Share on other sites More sharing options...
Pimpmycar Neutral Newbie September 25, 2009 Author Share September 25, 2009 If the daughter save up to buy a psp for herself, bank also wanna take it coz it under the house my uncle own. aiyo sad case man Link to post Share on other sites More sharing options...
Thangwk Neutral Newbie September 25, 2009 Share September 25, 2009 Well.... they will put stickers on all the valuables in the hse... I had to go to the court to attend a session to get back my items.... sit in front of e judge with e bank's lawyers contesting every thing tt was mine... You need a receipt to prove that the item is yours. After that... go to a place to pay for all that hassle... shift all the things to your relative's hse for the time being lar... save e hassle and $$$ Imagine... having to pay to get back e things tt belongs to you! Link to post Share on other sites More sharing options...
Tjy Neutral Newbie September 25, 2009 Share September 25, 2009 He lose his job 2 yrs ago earning 2.8k a month, now only 600 dollars a month doing odd jobs. The stuff or item are just tv washing machine fridge and some micro oven, what is most important are the clothes to my auntie which she bought herself, and don't think anyone will keep the invoice for it right. wa lan.. not bad leh.. earn 600 a month, in debt of 60k.. If he is already sued.. he received the letter lioa and got date of hearing, then no use to change name liao.. u ccannot change anithing.. .. u no need invoice to sompa that the items are hers.. juz sompa can liao... i dun tink they can take back the HDB... right now, wat kind of advices are you looking at?? you are finding a way so he cannot declare bankrupt?? or finding a way to save the items? if finding a way to save the computer and stuffs, ask ya aunt go sompa.. should not haf a problem... if wanna find a way not to be bankrupt, then work out something and plan installment.. if no income and cannot pay, then really no choice.. no one can help him.. declare bankrupt.... another choice is to request time from court to sell away house.. buy a cheaper house... then pay the bank.. Link to post Share on other sites More sharing options...
Pimpmycar Neutral Newbie September 25, 2009 Author Share September 25, 2009 my uncle got a bad history of drinking and betting on 4d and stuff, so he should have seen it coming. My relative is only worry about my auntie and her daughter and she's only 11yrs. imagine the bank fellow come and put sticker on her clothes and school bag and the psp she save to buy. ↡ Advertisement Link to post Share on other sites More sharing options...
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