Seeking advice on bankruptcy and hdb matters

[sacrificium]

does it matter if the kid is still a child or less than 21?

Doesn’t matter, likely TS has the custody of his child.

 

[sacrificium]

Oh dear... wonder if they are still on speaking terms.

No reason to be on speaking terms if his mother has hidden her illegal activities from his previously. We can say that they aren’t on speaking terms previously since his mother is hiding critical information from him. (Either that or if TS is aware of his mother’s illegal activities, then they turned against each other after kena discovered).

 

[Kum Jit Pow]

the whole story sounds a bit sus to me. a bank loan officer won't approve a guarantor with 1k income for a 800k loan. it is as good as don't have guarantor.


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[spinex]

No his job is to reflect ground sentiments and appeal to govt depts but not provide legal advice. That's just his job scope. If nothing else, most are not legally trained so most people will be wise enough not to rely on an MP for legal advice (nor would he/she advise). You have an axe to grind with MPs, that's your problem. Don't give bad suggestions to TS.

So hdb belong to gov. So Ts ask mp specifically regarding forced sale of his hdb flat possibility why is it not within scope of MP ?

If the MP dunno sh*t about their hdb policy he will double confirm with hdb and reply TS whether the bank can force sold his hdb flat.

Role of MP is trying to help resident. You also can say giving food vouchers and foods to residents also not scope of MP why they keep doing it ? Isnt it part of effort to help residents ? Or a wayang act to win votes ? Depending how you wanna see it, its not MP job.

 

[SteamChicken8888]

the whole story sounds a bit sus to me. a bank loan officer won't approve a guarantor with 1k income for a 800k loan. it is as good as don't have guarantor.


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Probably the Loan from ages ago, I got family member income of 1.2K, managed to open facilities with DBS, Citibank etc whose wife use to take up loan, back then was around 10K only, now accumulate to around 500K liao.

 

[sacrificium]

the whole story sounds a bit sus to me. a bank loan officer won't approve a guarantor with 1k income for a 800k loan. it is as good as don't have guarantor.


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We are not sure what are the documents that TS’ mother provided. At least on surface, we know that his mother has a joint account with 6 figure sum. And since it is a scam, then likely the scammers have documents in place to scam the bank. TS mother has also not returned home to explain what is going on. It is asking unclear where is the money now. There are various version, some said that TS mother us involved in illegal money transfer activities, the rest is that she is the front fur her “good” friend who borrowed money using her name and her company.

 

[yoongf]

Sigh.. HDB flat ownership does not vest with the OA.

Even if want to refinance, sell or surrender, also need the mom involvement.

If mom uncontactable..
Need to get a seperate court order for a judge to sign on mom behalf.

Alternatively.. TS can get mom to give him the Power of Attorney.

Really an eye opener case study

 

[deokiejisoo]

TS run road already?

regretted to start the thread


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Lmao all these half **** threads once then worms come out TS sure disappear or even if they reply they avoid all the important questions

 

[DragonFire]

It can only be done when the mortgage agreement has been breached.

Exactly this. In many cases, breaching one agreement with the bank is as good as breaching all of them.

 

[Capitalist]

TS run road already?

regretted to start the thread

Apple indeed doesn’t fall far from the tree.

His mother also run road, no?

 

[Capitalist]

Cannot find a job as jailbird. Last time not like now very hard to find a job. Father Went jail inside no help was given. Mother foreigner. Left to go beg for food and feud for ourselves. 有上顿没下顿。bobian find to go outside find work. I 14 yo look for job last time part time $2/hr plus. I dun wish to bring up those terrible days.

Sorry my personal matter. Thank you

How is this a case of ‘PAP caused us hardship’?

Your dad’s bankruptcy and jail stint played no role at all?

Not everything is ‘conveniently lay blame’ on PAP leh.

 

[3G SAINT]

Yes. She’s the director of the restaurant

her “good” friend is a foreigner so foreigner can’t be a director?

from what I know her good friend used to be very rich.

from my understanding my mother personal bank account never had more than 10k.

Based on her cpf contribution history. Her cpf contribution is in the range for 300-700 dollars.

her oa account had 0 dollars in dec 2022. So from Dec 2022. The housing installment was fully deductible from my oa account.

We also saw a corporate bank account statement for year 2022. The corporate bank account balance was in the range of 600-700k. Can the bank use that as a collateral for the bridging loan?

But I’m pretty sure this 600-700k is not her money. It was probably deposited by her “good” friend who used to be rich

Are the restaurant still in operation?
If no likely her frenz take away corporate bank account run road

The bridging loan is for business operation need submit business revenue and they need guarantor to get this loan

I believe they have missed out pay installment and bank send this letter.

There is another 2 bank still not send you letter yet to chase you $$$...

Bankruptcy is the only way save you

 

[galmongie]

Are the restaurant still in operation?
If no likely her frenz take away corporate bank account run road

The bridging loan is for business operation need submit business revenue and they need guarantor to get this loan

I believe they have missed out pay installment and bank send this letter.

There is another 2 bank still not send you letter yet to chase you $$$...

Bankruptcy is the only way save you

I think ts receive this letter is because his property loan is with them.

 

[gnoes85]

This TS ar....tsk tsk.
Keep going in circle at the start already knew is not simple case.

 

[itedino]

How is this a case of ‘PAP caused us hardship’?

Your dad’s bankruptcy and jail stint played no role at all?

Not everything is ‘conveniently lay blame’ on PAP leh.

No need you to comment. Thanks

 

[Capitalist]

No need you to comment. Thanks

And meanwhile, it’s perfectly fine for you to comment / toss out such unsound advice?

Dun care the letter. Your mum already bankruptcy. Dun need to scare. They can't sue her anymore.

U just keep the hdb and lead your normal life.

Good bankruptcy to pawn them gao gao.

 

[Capitalist]

Better to ignore this kind of unsound advice. Go talk to a pro bono lawyer instead to understand options.

Couldn’t agree further.

 

[3G SAINT]

I think ts receive this letter is because his property loan is with them.

Maybe they take loan with this same bank and TS got joint account ask him sell house to pay debt since TS mum already bankruptcy but TS not yet...

Sell house pay debt but TS no house need rent outside.If declared bankruptcy TS want refinance house also difficult since cannot take hdb loan but can appeal...

Last time I cancel bto need forfeit deposit but I ask MP write letter then hdb give face and must see your MP powerful or not

 

[astroboy82]

TS any updates??

 

[deokiejisoo]

TS any updates??

Dig up so many worms of course run away already la