Sue Someone Bankrupt?

blackink SG

someone whom i considered a friend owed me some money that i tried to recover but each time the reply is sue me bankrupt loh. the problem is not that he owed me 4digits, its that i think he owed at least a couple other people 4digits, maybe even 5 but those other nitty gritty details i am not very clear yet.

as far i last understood:
a. hes unemployed, or maybe working part time or freelance,
b. he has no other assets except maybe an empty-ish HDB (not sure under his or his family’s name, lets assume His for starters),
c. he dont mind stuck in sg or even going to jail, that fact that he even goes around repeatedly taunting people to sue him bankrupt, i dont know why and what he has in mind..

so can i ask the sexperts here some questions:
1. how to sue someone bankrupt literally?
2. does it cost a lot? take a lot of time? what other factors help determine if its worth it at all?
3. what happens then if the other party indeed goes bankrupt?
4. what if someone else gets more upset and then take actual action to sue him bankrupt before i do? does the order of things makes any difference?
5. if i dont sue that person bankrupt, cant afford time or energy to chase down the address every other day, what else can i do?
6. if he starts working freelance or part time again, or even ride rickshaw or drive taxi or becomes offshore boatman (still in sg waters), can i intercept his cash flow? how? remember, i dont have a lot of time of my own to chase him down every street corner or canal. and i really trying not to throw more good money after bad money.

ok i know some will jump straight to conclusion and try to gun me down for even lending money to such people, but the story is longer than that, he didnt actually started owing me money, he owed intangible stuff that had to be converted to monetary value over time, like he inevitably damaged my things etc etc..which cannot be repaired or those that can, at a costs. so please be kind and offer your best-est advice to the best of your knowledge, which is what i really need right down, really really appreciated. Smile

DailyFreeGames.com SG

Please sue him bankrupt... we don't need more of such people that likes to taunt others... A taunt is a dare that he thinks you won't be able to do, therefore, all the more you should do it...

Darkness_hacker99 SG

If it's a personal loan, treat it as bad debts.

Dr Bad Debts

Cr Friendship

ThunderFbolt SG

got any proof that you lent him the money(IOU)? as opposed to his possible claim that you gave the money to him?

Rooney_07 SG

best is not to lend money to anybody, including family members. what can they do to you if you dun lend it to them? if they are angry with you for not lending money to them, tell them you are not a bank. if they insist, tell them to borrow from others then.

mancha SG

No need to sue him bankrupt.

If you got proof, go to small claims court and claim against him.

Court orders him to pay. If he really can't pay, even by installments, then he can declare himself bankrupt and the court will register him as such.

veron soh SG

Forget it,legal fees along will set you back a few thousands dollars,& cannot 100% get back your $$$.

FireIce SG

who is this Sue?

why so popular? why so many ppl toking about her?

Rock^Star SG

yeh put him in jail for deceit and the world will have one down.

FireIce SG

are u prepared to bear the legal costs just to do tt to him?

after tt, will u be able to sleep well at nite?

Darkness_hacker99 SG

one look already know chiu from edmw~ see la~ come here post 1 only, then bo come back, not bro enough la chiu!

Lokey SG

There is no way you can get the money back from him. He can just claim that he has never received the money or this money is given.

Unless there is formal contract (black and white being made).But in this fornal contract, probably you never thought of stating the interest rate and the time duration for the return.

However, if he actually ask money from several persons, than you can make police report of scam. This person is a professional cheater, who go around and ask people for investment. But in fact, he is just using the money to pay for each others' interests.

blackink SG

thanks for the so many comments, appreciated, so sorry i just came back from a urgent trip (not yet finish still ongoing), so one by one k

@mancha:

-small claims court can work?
-you mind roughly describe the process?
-need lawyer or ownself present?
-can courts order he pay?
-can he dispute?
-what if he dont pay even if court order? does he go jail? so what if he comes back out again?
-if indeed courts declare him bankrupt isnt me ruining the chances of other creditors getting -any cent back from him (this i heard from friends, not sure correct or not so pls dont shoot me down)

@veron soh:

would you share any idea how much the process and how long it might take?
what do you mean not 100% return? thks

@Darkness_hacker99:

thanks for the goodwill i can sense it, i am tyring my best juggling a few things, this is one loose end thats been outstanding thorn for some time, i dont want to drag it any further, its either now or never

@Lokey

thanks for the note, but i think i can get least some black/white, the burning questions in my mind are in my first posts, what each step in the process of suing someone bankrupt involves, entails and implies

Darkness_hacker99 SG

It's a complicated process which involves a lot of waiting time. It's like a game of money and time. If you have the money to hire a lawyer, he will play this game on your behalf. The steps are very quite complex and you need to submit quite a lot of claim documents to the court before the court will issue the writ.

blackink SG

thanks i am always hoping someone whos underwent the process can share some info, be it as the person doing it or the person being done to. nobody wants to throw more good money after bad money, unless really have to or theres a strong chance of actually achieving something

Darkness_hacker99 SG

http://www.lawsociety.org.sg/probono/CLC/aboutCLC.aspx

blackink SG

thanks i hope someone can share some of their experiences or their friends experiences they came across

Toiletries SG

No expert but you'll end up paying more than what you'll be compensated with. Is the extra cost worth the vengeance, or should you just break all ties and move on?

Even with all 4-5 collaborate with you, it's no use. A thread in HWZ is about finding a shop owner who left with thousands of dollars in pre-order deposits, and till date, no legal updates, much less this guy you're talking about.

He challenged you because he knows its stupid to pursue the case.

mancha SG

D.i.y.

http://app.subcourts.gov.sg/sct/index.aspx

blackink SG

No expert but you'll end up paying more than what you'll be compensated with. Is the extra cost worth the vengeance, or should you just break all ties and move on?

He challenged you because he knows its stupid to pursue the case.

the questions i pose in this thread is to find out, can creditors take legit action to claim something back owed so are you saying in a way, that debtors pwn creditors totally and absolutely? can you share with us some of the details of some of the claiming processes that you came across that gave you that less than favourable impression?