Credit Debt - Singapore Entry and Departure

4POSTS

4 years ago

Hi

I was working in Singapore in 2013 and I came back to India in 2014.
At that time I was a credit due of 7000$ and couldn’t paid and back to India due to the employment contract.

Now (in 2022) when I checked with bank they are telling my dues are 81,000$ and asking to pay immediately.
( I was looking for a job in Singapore and have checked with bank)

Still can I do a job in Singapore ? (EP gets approved)
What happens when I enter into Singapore now ?
Wil police get caught me when I enter ?
if no one stops me, will any one stops while returning to India ?

How the bank guys know that I entered into Singapore ? And going back to India ??

Thank
Lucky

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beppi Germany/Singapore Expert

15687POSTS

4 years ago

It is never a good idea to leave without settling your debts!
The best advice I can give you is to find a mutually agreeable solution wih the bank. Otherwise, for this huge amount, it is only a matter of time (if not happened already) until they sue you in court (they will sure win, especially if you are absent!) and pursue you even in your country.
After eight years of inaction (Why???), I am not sure good will still works, but it is worth a try: If you talk to them, apologize and show that you want to resolve this (e.g. by paying it back in installations), they are sometimes willing to accommodate and e.g. reduce the accrued interest substantially.
Until such a solution is found, you should not travel to Singapore or think of a job here. The alternative is to stay away forever - and pray that they won't find you elsewhere!

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Jus214 Member

2POSTS

4 years ago

I have the same problem, have you enter in Singapore?
Did you incounter any issue?

Lucky_Himansh New member

4POSTS

4 years ago

Nope, not yet … I haven’t get any job over there.. when did you leave the Singapore ? and how much money ??
Based on this I can tell you

Jus214 Member

2POSTS

4 years ago

Sending msg to you

Shawndexter1 1 Member

2POSTS

4 years ago

Can they sue you at the court of your country specially if its India? i highly doubt so. i heard after 7 years the debt is marked as bad debt especially credit card debt. they usually sell it to some Insolvency agent or something. Can anyone confirm?

beppi Germany/Singapore Expert

15687POSTS

4 years ago

I don't know about India, but in most countries with reasonable jurisdictions foreign corporations can sue locals. Whether they do so depends on the amount you owe.

But even if not, you might never be able to return to Singapore after defaulting on your debt there. Not a risk I would accept easily!

Rsankar New member

4POSTS

4 years ago

Hello,

I'm also in same problem as of you.

Lost job during covid, almost 18 months completed.

Initially i have paid my emi properly, after that paid minimum payment.

finally stopped making payment May 2021 onwards.

May i knew u r status?

did u spoke with bank?

Thanks in advance,

Shankar.

tony stacey Member

1POSTS

3 years ago

I have the same issues. I left and change my citizenship and worked elsewhere (US & Canada). I had an account with an SG bank and religiously paying every month, my monthly dues religiously. Then 1 day i was checking my online account to see my balance and my account was closed. I called the SG bank and inquire about it and they said my account was closed due to inactive, I said how can it be inactive when I am paying it every month, I still owe the bank money. They only told me that it is the company's decision and they will get in touch with me soon.Of course all my records, phone and address no longer been used as I have not live in SG for like 6 years, the only way to communicate with me is through email, which they did and they are demanding me to pay it full. I explained to them my situation and pleaded to reinstate my account and the contract I signed for my loan. They didnt grant my request, instead they appointed a collecting agency to pursue collecting my debts, they collecting agency emailed and they said they been trying to call me and then send me an email and show my statement which of course shows total plus incurred interest. As of this time I have no means to pay for it.

Now, your question maybe is If I can still come and visit SG, answer is YES, i been in and out, transient through Singapore with a different passport used before I left SG. No hiccups or not even a question from immigration officers.

The only noticeable quote in their last email is that my credit card records is already affected and I will never be able to secure any similar financial loan unless I pay the amount. Hope this information helps.