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More Singapore bankruptcy cases filed by debtors, not creditors, in past 5 years: MinLaw
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Credit Counselling Singapore runs a debt management programme that helps debt-distressed borrowers work out a plan to repay all their creditors through instalments every month.
PHOTO: LIANHE ZAOBAO
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SINGAPORE – More than half of the bankruptcy applications in 2024 were made by the debtors themselves, according to the Ministry of Law (MinLaw).
This is the fifth consecutive year since 2020 that the number of self-filed applications was higher than the number of applications by creditors, based on figures the ministry provided to The Straits Times in response to queries.
