[Blasterlord2]

Singapore bankruptcy laws re antiquated.

Thee should be automatic discharge after 5 yrs like most advanced countries...it should not be a lifetime sentence...and there should be jn place homestead laws and pension protection so that creditors cannot touch your home and retirement pensions. ...

Our laws are ancient and nit upgraded for too long favoring the banks who know they can take everything and hold the person forever...thus leading to irresponsible lending....because the creditirs have so much power.

Bankruptcy law reform is a must for Singapore.

I hope the opposition takes this up.

Why should there be automatic discharge after 5 years? You want ppl to borrow a large sum of money, declare themselves bankrupt and let their debts be forgiven?