# Have to leave Singapore



## EricRoberts

I'm an expat living in Singapore for less than a year. I'm about to be laid off from my company and will have to return to the UK in two month's time. My problem is that I have a 2 year lease with my landlord which I have to break and credit card debt (about $25K). I do not have another job lined up in the UK (being let go suddenly was a huge shock!) and don't know if and when I will gain employment there. Should I declare for bankruptcy?


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## joeman

Hi,

Are you working for a MNC ? You can seek advice from your HR for alternative way to reduce your loans. Talk to the rental property to get back the deposit if possible and to the bank for your credit card.

Singapore laws are very strict. Once you file for bankruptcy, the govt law is that they will withhold your passport and you will not be able to go back to UK. 





EricRoberts said:


> I'm an expat living in Singapore for less than a year. I'm about to be laid off from my company and will have to return to the UK in two month's time. My problem is that I have a 2 year lease with my landlord which I have to break and credit card debt (about $25K). I do not have another job lined up in the UK (being let go suddenly was a huge shock!) and don't know if and when I will gain employment there. Should I declare for bankruptcy?


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## EricRoberts

joeman said:


> Hi,
> 
> Are you working for a MNC ? You can seek advice from your HR for alternative way to reduce your loans. Talk to the rental property to get back the deposit if possible and to the bank for your credit card.
> 
> Singapore laws are very strict. Once you file for bankruptcy, the govt law is that they will withhold your passport and you will not be able to go back to UK.


Thanks for the advice. I've consulted our legal department and they've suggested consolidating all the credit card debt which will bring my down my interest rates. They will also negotiate with the banks for a longer grace period. 

As for my lease, I've found another tenant willing to take over my lease. He will pay the 2 month deposit to me so I don't lose out on anything. 

Glad I didn't rush ahead with the bankruptcy option! Phew!


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## Jessica_Williams

Good luck! If you are returning to the UK you should know that the jobs market here has obviously been horrendous over the past year, but it is beginning to show signs of picking up a little. 

I would prepare yourself for a slightly longer period of job-seeking than you might have been used to once back in the UK, however. 

I really hope everything works out for you!


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## Guest

You had better check with lawyer. I think if you declare bankruptcy that you cannot leave the country...hmmmm. Talk to lawyer first. Dont jump off bridge ok.


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