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Confused or Overwhelmed by Bankruptcy?

Let Our Lawyers Guide You Through Bankruptcy

Introduction to Bankruptcy (English subtitles)

Video: Ministry of Law Insolvency Office ↗

What is Bankruptcy?

Bankruptcy is a legal process that applies to individuals who are unable to repay their debts amounting to at least S$15,000. Once a person is declared bankrupt by the High Court of Singapore, their assets may be used to repay outstanding debts under the supervision of the Official Assignee.

Watch this introduction from Singapore’s Ministry of Law Insolvency Office for an overview of bankruptcy. For advice on your own circumstances and available options, speak to our lawyers.

What Are The Alternatives to Bankruptcy?

Explore legal solutions that help you avoid the long-term consequences of bankruptcy:

Debt Repayment Scheme (DRS)

Court-supervised plan for debts under S$150,000 with no bankruptcy record.

Voluntary Arrangement (VA)

Private agreement with creditors to restructure and reduce debts.

Debt Consolidation Plan (DCP)

Combine unsecured debts into one manageable loan with lower interest.

Creditor Negotiation

We help negotiate flexible, confidential repayment terms on your behalf.

Asset Liquidation or Restructuring

Strategically manage or sell assets to settle debts legally and avoid court action.

Key Restrictions for Bankrupt Individuals in Singapore

If you are declared bankrupt, you will be subject to the following key restrictions:

  • Monthly Contributions: You must make monthly payments based on your income and living expenses. These funds are managed by the Official Assignee and go toward repaying your creditors.
  • Travel Restrictions: You cannot leave Singapore without approval from the Official Assignee.
  • Business & Employment: You are barred from managing a business or becoming a company director without court permission.
  • Credit Access: You must disclose your bankruptcy status when applying for credit over S$1,000.

Why Choose Us

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Trusted, Award-Winning Legal Experts

Respected in the legal community for our integrity and dedication, we are recognised for excellence in bankruptcy and insolvency matters, guiding clients through complex financial distress with clarity and confidence.
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Over a Decade of Insolvency Law Expertise

With more than 10 years of focused legal experience in insolvency and debt restructuring, we deliver strategic, practical solutions tailored to both individual and corporate clients facing financial challenges.
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Proven Client Satisfaction

Our firm has earned the trust of hundreds of satisfied clients, with over 700 positive testimonials highlighting our successful handling of bankruptcy filings, debt settlement negotiations, and court-supervised insolvency proceedings.
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Established Track Record of Success

We consistently provide effective, compliant, and timely solutions—helping clients avoid unnecessary complications, manage creditor relations, and secure the most favourable outcome in insolvency scenarios.
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Strategic, Results-Oriented Approach

Our experienced legal team adopts a proactive and solutions-driven methodology, simplifying the legal process, minimising delays, and reducing the emotional and financial toll for clients in distress.
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Compassionate, Client-Focused Guidance

We understand that bankruptcy and insolvency are deeply personal and often stressful experiences. That’s why we provide empathetic, clear, and ongoing communication at every step to ensure clients feel supported and informed.
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Client-First Support Every Step of the Way

We understand the complexity and pressure of major business decisions. That’s why we prioritise clear communication and responsive support — ensuring your startup or corporate transaction progresses smoothly and confidently.

How to File for Bankruptcy in Singapore

It serves as the first step in the legal debt recovery process and often leads to resolution without the need for costly litigation. Our debt recovery process includes:
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1. Eligibility Check

You must owe $15,000 or more and be unable to repay. We help evaluate your case discreetly.

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2. Documents Preparation

We assist with compiling creditor lists, income statements, and required affidavits.

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3. Submit Application

File via eLitigation or State Courts. We handle the process and paperwork for you. *Fees include a $1,850 deposit to the Official Assignee and court filing fees

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4. Court Hearing

We represent you in court and guide you through every step.

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5. Bankruptcy Order & Discharge

The Official Assignee will manage your case. We help you work toward early discharge.

Our Reviews

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Christine Yew
16th October 2026

Working with this law firm was the best decision I made. From start to finish, the team was incredibly knowledgeable, professional, and genuinely supportive. Legal matters can be stressful and overwhelming, but they guided me through every step with absolute clarity, patience, and warmth. Special thanks to Ms. Sherlyn Kaur and Mr. Baiross. Mr. Baiross provided sharp legal insight and strategic direction. Ms. Sherlyn Kaur was amazing with communication - always responsive, meticulous with details, and consistently reassuring throughout the entire process. They truly care about their clients as people, not just cases. I am deeply grateful for their hard work and highly recommend them to anyone seeking reliable legal representation!

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Emma Lee
15th October 2026

Engaged I.R.B. Law LLP for a civil debt recovery matter. Mohamed and the team provided stellar service with clear, pragmatic, detailed advice and handled my case with efficiency. They understood my position and helped secure a successful outcome while keeping the process transparent and straightforward. Highly recommended for their responsive and practical legal services.

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车雪静
12th October 2026

A huge thank you to Mr. Peng and his assistant, Ms. Taffy! Throughout the handling of my case, they demonstrated an exceptionally high level of professionalism, efficiency, and empathy. Mr. Peng provided outstanding professional legal advice and secured the best possible outcome for us! Highly recommended!非常感谢 Peng 律师和他的助理 Taffy 小姐!在处理我的案件期间,他们展现了极高的专业素养、效率和同理心。Peng 律师给出了非常专业的法律建议,为我们争取到了最好的结果! 极力推荐彭律师!

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Zahary Mahmud
28th September 2026

I'm inhaling fresh air now even its hazy outside. Words can't express how much Mr Dzuleqhmal and Miss Sharmeela had done for my case. My soul and mind is free now because of their professionalism. Thank you, both of you and the team, I shall never forget all if you in the IRB law LLP, thank you again. This guys is highly top notch stuff. Highly recommended.

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Mira m
23rd September 2026

To Mr Dzuleqhmal, Mr Ahmad Ghazi, Mr Shafee, and the entire team that has been tirelessly working on my case backend. I would like to express my sincere appreciation and deepest gratitude to all of you for your professionalism, dedication, and unwavering support throughout this challenging journey. The past few years have been an exceptionally difficult period for me, and navigating through the various challenges was not easy. Having a dedicated and committed team supporting and guiding me throughout the process gave me great reassurance and confidence. I am particularly grateful to Mr Dzuleqhmal, Mr Ahmad Ghazi, and Mr Shafee for the time, effort, patience, and care that you have consistently put into my case. Your professionalism, attention to detail, and commitment have been deeply appreciated. I am truly thankful to have had such a capable and dedicated team alongside me during one of the most challenging chapters of my life. The outcome is very meaningful to me, and I sincerely appreciate the effort that went into achieving it. Thank you once again for your invaluable guidance, support, and commitment throughout this journey. I will always be grateful for the assistance and professionalism that you and your team have shown me. I would totally recommend IRB Law should you require any legal services! With my deepest appreciation and sincere thanks to the whole team, A.M.B

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Lily
21st September 2026

Working with Mr Dzul & Ms Sharmeela on my matter was a great decision. They were thoroughly prepared, professional, and strategic during the presentation of my case. Their attention to details and calm demeanor made a stressful situation much easier to manage. I felt completely supported and informed throughout the entire process. Highly recommended for anyone needing dedicated legal representation!

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Lynn k
12th September 2026

Mr Baiross and his team helped me with my litigation case and offered really good advice. I am very appreciative of his work and expertise as it helped me close my case. Thank you🙏🏼🥹

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Nihal Wafiyah
28th August 2026

I would like to express my sincere appreciation to IRB Law and especially to Mr Aidil, who handled my case. Mr Aidil has been professional, patient, and very approachable throughout the entire process. He took the time to explain things clearly, answered my questions patiently, and provided valuable advice whenever I needed guidance. I truly appreciate his dedication and the way he handled my matter with professionalism and care. Having a lawyer who is responsive, understanding, and genuinely committed to helping his client makes a big difference, and I am grateful to have had Mr Aidil representing me. Thank you, Mr Aidil, and the team at IRB Law for your excellent service and support. I would highly recommend Mr Aidil and IRB Law to anyone looking for professional and reliable legal assistance.

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Khairunnisa Lee
26th August 2026

IRB law team handled my case well. Everything went smoothly. Every detail was explained and written clearly. Ms izyan, munirah & syarah are very patient with my questions. And as for counsel mr Aidil did a great job in handling my case. Thankyou. Highly recommended

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roziana abdul rahman
19th August 2026

I am truly grateful to Tuan Dzul, MrAidil, Patrick and the team for their guidance and support throughout my case. What stood out most to me was that I never felt like I was just another case file. I felt heard, understood and genuinely cared for — like they truly wanted to help me through a very difficult, stressful and emotional chapter of my life. They listened to my concerns and explained things clearly Their patience, professionalism and clear guidance gave me much-needed reassurance throughout the process. Thank you for handling my case with integrity, sincerity, care, respect and dedication. I sincerely appreciate all the effort from the entire team and would definitely recommend them to anyone looking for a reliable and supportive legal team. 🙏🏼

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Shafiz Shabudin
18th August 2026

Mr Dzuleqhram and his team did a great job handling my case. Honest, firm and most importantly, decisive. I cannot thank Mr Dzuleqhram and his team enough

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Ili Lutfiah
8th August 2026

We engaged IRB for a recent case and had an absolutely wonderful experience with Mr Baiross and Mr Joel. From our very first consultation, we knew we were in good hands. Mr Baiross took the time to understand our situation and walked us through the potential consequences with so much empathy, patience and genuine concern. He never made us feel rushed, and his ability to explain everything clearly gave us a lot of reassurance during what was a very stressful period for us. It was clear from the very first conversation that he genuinely cared about helping us, and we knew we wanted to engage him and his team. We were also incredibly fortunate to work with Joel throughout the process. His friendly and approachable demeanour made it so easy to communicate with him. He always kept us focused on the end goal, while making the entire process feel much less daunting. At times, it genuinely felt like we were discussing things with a friend rather than a lawyer. What we appreciated most about Joel was his ability to empathise with our situation and understand how we were feeling before offering his thoughts and advice. He never made us feel like our concerns were insignificant, and we always felt heard, respected and supported. His professionalism, patience and personal touch really stood out to us. Highly recommended to anyone looking for a team that is not only professional and knowledgeable, but also genuinely empathetic and invested in their clients.

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Yasmeen Shah Kamal
6th August 2026

I am writing to express my heartfelt appreciation and gratitude to Mr Dzuleqhmal, Mr Aidil, Ms Sharmeela Begum, and the entire team for the exceptional professionalism, dedication, and care they demonstrated while handling my court matters. Throughout what has been a very difficult and emotionally challenging period, the team consistently treated me with respect, patience, and compassion. They took the time to listen, explained the legal process clearly, and ensured that I understood each step of the proceedings. Their guidance gave me confidence during an uncertain time. I was particularly impressed by their professionalism, integrity, and commitment to ensuring that my matters were handled fairly and efficiently. Every interaction reflected a genuine willingness to help, and I always felt that my concerns were taken seriously. Their calm and respectful approach made a significant difference to my experience. Please extend my sincere thanks to Mr Dzuleqhmal, Mr Aidil, Ms Sharmeela Begum, and everyone involved. Their dedication to public service and commitment to helping members of the community are truly commendable. They are a credit to your organisation, and I hope they receive the recognition they deserve for their outstanding work. Thank you once again for the excellent service and support provided throughout my cases. I will always be grateful for the professionalism, kindness, and dedication shown by the entire team.

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Shah Aisha
5th August 2026

We consulted several lawyers before deciding who to engage for our case, and choosing Mr Dzuleqhmal was one of the best decisions we made. From our very first consultation, Mr Dzuleqhmal was patient, attentive, and took the time to understand our concerns. Our case was particularly challenging as it involved a variation of a court order relating to child access, where access had been denied despite an existing court order being in place. Throughout the process, Mr Dzuleqhmal and his team were professional, efficient, and consistently responsive. He clearly explained every stage of the matter, including the expected timeline, court procedures, hearings, and child evaluation processes, which helped us feel informed and prepared. What stood out most was his attention to detail, thorough preparation, and strong advocacy in court. He was precise in his work, strategic in his approach, and articulated our position effectively during proceedings. His knowledge of family law and commitment to achieving the best outcome for his client gave us confidence throughout the case. I would highly recommend Mr Dzuleqhmal and his team to anyone seeking legal representation in family law matters, especially complex child access and custody-related cases. Thank you for your professionalism, dedication, and support throughout this journey.

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Simran Kaur
23rd July 2026

I had a wonderful experience working with Faustina Joyce Fernando at IRB Law LLP. After struggling for a long time to navigate complex, stalled court document extractions on my own, Faustina stepped in with immense empathy, efficiency, and professionalism. She made strategic decisions that brought a swift, complete resolution to my case in record time. I am incredibly grateful for her clear guidance, kindness, and dedication. Highly recommend Faustina and the family legal team at IRB Law to anyone seeking reliable and compassionate legal support!

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Life Of KMx
22nd July 2026

Very professional in handling the case.

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Mohamad Nizam
22nd July 2026

I'm glad to engage IRB lawyer, they been very helpful and guiding me through my claim of inheritance. I was afraid at first for the high cost of using lawyer as it was my first time. To my surprise, lawyer baharos and lina help me with an affordable cost for their service, I was surprised and greatful. They don't judge my case as a minor, they were available till after office hours to settle my public trustee case. So thankful for their dedication in settle the case in less then a month. To Mr baharos thanks u for your kindness and to Miss Lina thanks for your guidance. Excellent lawyers with kind heart.

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Z Law
10th July 2026

⭐⭐⭐⭐⭐ I had an excellent experience with IRB Law throughout my legal matter. From the very beginning until the conclusion of my case, the team was professional, responsive, and supportive. A special thank you to Mr. Dzul, who handled my case with exceptional professionalism, patience, and dedication. He took the time to explain every step of the process clearly, answered all my questions promptly, and provided sound legal advice that gave me confidence during a very stressful period. His calm and compassionate approach made a significant difference to my experience. I would also like to thank the rest of the IRB Law team for their efficiency and excellent coordination. Every interaction was courteous, and I always felt that my case was being handled with care and diligence. Legal proceedings can be overwhelming, but having such a capable and trustworthy team by my side made the journey much more manageable. I am sincerely grateful for their outstanding service and would highly recommend IRB Law to anyone seeking reliable, professional, and client-focused legal representation. Thank you once again to Mr. Dzul and the entire IRB Law team.

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Nasri Suhaimi
8th July 2026

Although the case took almost 3 years to conclude, both Mr Dzul and Mr Aidil were consistently helpful, approachable, and professional throughout the entire process. They explained every step clearly and patiently, making the legal procedures and available options easy to understand. Thank you for your guidance, dedication, and support from start to finish.

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Thumbs up to Norlina and her team. They are a nice team to work with as they handled our case with utmost professionalism. Highly recommended.

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Lee Soon whatt
27th June 2026

Highly recommended for anyone seeking legal action. Case was handled professionally and I got the result that I was hoping to get. Consider the result as a win. Case handled by Mr Koh Boon Yang and Mr Zachary Lim was done with exceptional skill.

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Zarif Danish
14th May 2026

Assalamualaikum and thank you once again to the entire team for your professionalism, patience, and guidance throughout this difficult journey. Mr Aidil, thank you for representing me calmly and professionally during mediation today. Your composure and assurance gave me great comfort. Mr Dzul, thank you for taking the time to answer my many questions and concerns throughout the process with clarity and patience. Ms Fatin, thank you for carefully taking my instructions and helping align the case with the values and approach I hoped for. I truly appreciated your understanding and responsiveness. And lastly, Mr Fadil, thank you for coordinating everything from the very beginning and ensuring the process moved smoothly. Alhamdulillāh, everything concluded peacefully today, and I am sincerely grateful to all of you for your efforts, professionalism, and support during one of the most difficult periods of my life. May Allah reward all of you with goodness always. 🤲🏽

Our Lawyers

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Mohamed Baiross

Partner
  • English/Tamil/Malay Fluency
  • Extensive experience in insolvency matters, offering tailored solutions for financial challenges.
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Quek Liuyong

Partner
  • English/Chinese Fluency
  • Extensive experience in insolvency matters, offering tailored solutions for financial challenges.
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Crystal Lum

Partner
  • English/Chinese Fluency
  • Extensive experience in insolvency matters, offering tailored solutions for financial challenges.
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Sharifah Nabilah

Partner
  • English/Malay/Arabic Fluency
  • Extensive experience in insolvency matters, offering tailored solutions for financial challenges.
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Wen Weiyang

Associate
  • English/Chinese Fluency
  • Extensive experience in insolvency matters, offering tailored solutions for financial challenges.

Frequently Asked Questions

Who is an Official Assignee in Singapore?
The Official Assignee acts as the overseer of the bankrupt individuals estate. They investigate the affairs of the bankrupt individual and recover the persons assets, so that it can be distributed to their creditors. The Official Assignee also assists the bankrupt individual in obtaining a discharge from bankruptcy.
What are my restrictions as a bankrupt individual in Singapore?
Bankrupt individuals are required to pay monthly contributions, which go to your bankruptcy estate. Once you are discharged as a bankrupt individual, that lump sum of money will be distributed to your creditors. Your Official Assignee will determine the required monthly contributions as well. As per Section 86A of the Bankruptcy Act states, the contributions are determined by your current monthly income. Factors such as any changes in your monthly income, how much your spouse earns, and the cost of maintaining your family and yourself are also taken into consideration while determining the required monthly contribution.
How can I get out of bankruptcy?
Under Singaporean law, there are various ways to get out of bankruptcy. Under Section 125 of the Bankruptcy Act, your Official Assignee can issue a certificate discharging you out of bankruptcy, after you’ve paid a target contribution. The target contribution is determined by the Official Assignee, and it is this very target that needs to be reached in order to receive a discharge from bankruptcy. It is also worth noting that if your monthly contributions add up to your target contribution at certain points of review, you will also be eligible for discharge.
How long must I remain bankrupt?
As a first-time bankrupt individual, if you pay your target contribution in full after three to five years, and more than half of your creditors have no objection, you will be discharged from bankruptcy.
What happens if half my creditors still object to me being discharged from bankruptcy?
For repeat offences of bankruptcy, each of these timelines mentioned above will be extended by an additional two years.
How long does bankruptcy stay on my record?
If you have paid your target contribution in full within seven years, your name will be removed from the public record after five years of the discharge. After seven years, however, if you have not paid the target contribution in full, you can still be eligible for a discharge, but your name will remain on the record permanently.
How can I apply to be a discharged bankrupt?
To apply to be discharged from bankruptcy, you will need to do so through your Official Assignee; you can apply to the Court for an order of discharge. If the Court finds that you are able to pay the target contribution.
As bankrupt, can my past creditors still sue me?
Your creditors cannot sue you for the monies that you owe them before bankruptcy. They ought to have lodged their claim with the Official Assignee. However, should you find yourself in a position where you had become indebted to new creditors after becoming bankrupt through business dealings or a new personal loan, then the new creditors will still be able to commence legal proceedings against you. However, if you are fined for breaching the law, such as for traffic offences, you will have to pay up the stipulated amount.
What happens to my belongings when I become bankrupt?
Section 78 of the Bankruptcy Act describes in detail what will happen to your possessions, stating that creditors take ownership of all of your property, except for:

  • Any property you’re holding on trust
  • Items necessary for your job (including tools, books, your car)
  • Items necessary for your satisfying your “basic domestic needs” (this includes clothing, furniture, and yes, your HDB home)
  • Your income (after payment of your monthly contribution)
  • Any bonus or annual wage supplement as a part of your income
  • Your property which is excluded under any other written law.
  • Items that you will have to give up, however, include investments, bank accounts, and insurance policies, for instance.
Can I get a credit card if I go bankrupt?
Banks will usually terminate all your current credit cards as soon as you are listed bankrupt in the public record. When applying for a credit card in the future, you will have to declare your past status as bankrupt, and in most cases, your application won’t be approved.
Can I travel overseas?
Yes, you can, but you must apply for permission from your Official Assignee at least two weeks before your trip, and provide the reasons, destination and length of travel. Work trips will have to be supported by a company letter. If your job involves frequent travel, you can make a block booking for your travel periods instead of applying for each trip. However, final approval will depend on your Official Assignee’s review of your performance.
General Disclaimer

Any reference to bankruptcy is made in accordance with the applicable laws in Singapore, including but not limited to the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) and related subsidiary legislation. The procedures, timelines, and rights of creditors and debtors may vary depending on the nature of the debt, the parties involved, and orders made by the court.

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