Financial woes!!!!???!!!
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I am lost, perplexed, confused, angry and wat can I say?
I thought that by being a bankrupt, the fears and woes of receiving those irritating and endless calls from the banks would stop......... Never had I expected that being a bankrupt, basically the whole society shun away from you..........when u approach a friend, they think u wanna borrow $$$$, when u apply for job, they look at u and say "thank you"...........
What mess have I got into? Oh GOD! Plssssssssssssssss HELP me ... I still have 2 young kids to feed and I can't go on being jobless for long............
Is SG really willing to give those who failed a 2nd chance like wat the new PM says???????? I really dunno............
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why u bankrupted?
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I guess a lot of people out there are of the same position......... The cause of it is no more important, wats important is how to face the effect of it and 'move on'....which is the hard part 4 me now....not that I do not want to move on, but its the external environoment that is the barrier now......Originally posted by blowfish:why u bankrupted?
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Who say not important.... ?Originally posted by Bankrupted:The cause of it is no more important,
If u became bankrupt of ur own choice just to escape some financial mess u created urself... den employers probably will look at u in a 2nd light... -
If u can drive, try & be a relief taxi driver.
I know of someone who is bankrupt, doing just that. Now he is slowly paying off his debts. -
Take up multiple temp jobs... Big or small... At the same time, get 'contacts'....Originally posted by Bankrupted:I guess a lot of people out there are of the same position......... The cause of it is no more important, wats important is how to face the effect of it and 'move on'....which is the hard part 4 me now....not that I do not want to move on, but its the external environoment that is the barrier now...... -
try to pay the $ ASAP and get out of dat dire state....u may have to hold 2-3 jobs but if u are determined, u can get out of it in a yr or 2 bah.....
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Yes like FI said, certain jobs are sensitive to your financial status. They will unfortunately attribute your status to certain "personality traits" or "weakness" and as such not all jobs will be open to you esp those more sensitive ones. But if its in a technical or skill based job I am not sure if the potential employers would be as similarly sensitive.
Essentially bosses are afraid that you being under financial pressure may do silly things.... (cant blame them bec like everyone else, since they dont know you personally, they can only rely on your records)
In the meantime, take on some part time job to cover your basic expenses until you can land a full time job. The OA will assess you from time to time about your ability to repay the debt and after a few years depending on your attitude, repayment rate and your age and family needs etc and the amount outstanding, you may be discharged. Since the revised Bankruptcy laws came into effect, the policy has been to cut short the time to lift the bankruptcy status.
There are plenty of people who are made bankrupt but they still get out at the end. So perserve and you will get there. In the mean time, take care and dont give up. and if there is anything to learn about handling money, sorry to say this, learn it now so that you will not suffer the same in the future and THEN TEACH others from falling in the same trap! -
Set up a tuition agency. Be an agent. Do sales. I hope this help. Sg is indeed a cruel place to live in. But, you are not alone.
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Thanks for the very sound and supportive advice.... really appreciate that....Originally posted by supercharger:Yes like FI said, certain jobs are sensitive to your financial status. They will unfortunately attribute your status to certain "personality traits" or "weakness" and as such not all jobs will be open to you esp those more sensitive ones. But if its in a technical or skill based job I am not sure if the potential employers would be as similarly sensitive.
Essentially bosses are afraid that you being under financial pressure may do silly things.... (cant blame them bec like everyone else, since they dont know you personally, they can only rely on your records)
In the meantime, take on some part time job to cover your basic expenses until you can land a full time job. The OA will assess you from time to time about your ability to repay the debt and after a few years depending on your attitude, repayment rate and your age and family needs etc and the amount outstanding, you may be discharged. Since the revised Bankruptcy laws came into effect, the policy has been to cut short the time to lift the bankruptcy status.
There are plenty of people who are made bankrupt but they still get out at the end. So perserve and you will get there. In the mean time, take care and dont give up. and if there is anything to learn about handling money, sorry to say this, learn it now so that you will not suffer the same in the future and THEN TEACH others from falling in the same trap!
Well, as for those who are curious to know the cause of it...well, I admit that it was due to personal greed....I dabled heavily in stocks and lost beyond my limits...... I know some people might say that I have brought this upon myself...yes, I admit that... but who doesn't make mistakes in life, right? And when we do so, are we given the chance to stand up again? That is wat i am trying to put across here... -
ah....the lure of money and a "good" life.
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Yes i do agree that it is hard to find your footing again. Yes many of us had been there, being carried away by the bulls and the bears. I personally came close to loosing everything as well many years back. I know how you feel.. it really sux! I had to start from zero again. Now I do not even play the market preferring to keep the little that I have earned in the many years since in FD and principal guaranteed financial products.Originally posted by Bankrupted:Thanks for the very sound and supportive advice.... really appreciate that....
Well, as for those who are curious to know the cause of it...well, I admit that it was due to personal greed....I dabled heavily in stocks and lost beyond my limits...... I know some people might say that I have brought this upon myself...yes, I admit that... but who doesn't make mistakes in life, right? And when we do so, are we given the chance to stand up again? That is wat i am trying to put across here...
One of my close friend also lost everything in the market at about the same time as me. I mean everything. We admit that we got carried away and we were all greedy then.
this entire episode changed him and to a certain extent myself too. I cant speak for myself but I can at least say that he is now one of the nicest person I know, humble and stable.
Both of us struggled again to rebuild our lives and finances. It took a few years and finally we are financially independant again.
I do not know which industry or what your job or skill that you are trained in, like I said, I think there are industries that are not as sensitive. a few of the companies that I know do employ or continue to keep their existing employee even after they are made bankrupt. But yes I agree, there are many employers who do not understand.
So my approach would be this, use this humbling episode to your advantage, allow it to change the person that you are, then convey this in your outlook to life. You will find that your life experience will become so much richer than when you had the "paper gain". the simiple things in life now give great joy
Now about that job, rehearse in your head what you will say when you get the chance to attend an interview and are asked about your bankruptcy. Dont be a know it all, dont project a needy self, a desperate self. Be confident of yourself about your ability and most importantly about how you became a bankrupt and how that had changed your life and your heart. show your ernestness and your desire to work hard for your employer for your family for your kids and for yourself. I think employers, like it or not, will at least to some extent respect a person who falls, learns from his mistake and is prepared to pick himself up again with honest intergity and hard work.
In the meantime, you will need to find a job, anyjob that will help pay some of the bills. The OA will not and should not press too hard on you bec you have childrens to upkeep. talk nicely to the OA and explain to him what it is that you had been trying to do in terms of getting a job and the difficulty that you had. the OA will I think understand.
As to your friends and the potential stigma about being a bankrupt, try not to let that affect you. I know it feels really lousy. But be confident about yourself. this confidence will come when you rediscover yourself worth in your God if you believe in Him, your self worth in the person that you represent and have become and what your family and children thinks of you.
Once you have regained this self worth, you will walk taller and your speech will be different too. That will improve your life experience and will I think help with that job interview too bec your confidence will come through.
Finally I have to admit that it is a humbling experience and a painful one. But you can overcome it. Use it to rediscover the simple truth and joys in life. let it remind you that your worth as a person is no longer determined by what you have in the bank but by the person that we had become and the relationships that you have.
is this a so called "looser" way of thinking?? nope. It is I think the right way to think right from the beginning. Its just that like so many people we all got sidetracked by greed and personal ambitions and had forgotten what is truely important.
Take care and all the best with finding that job. we will be here if you need us and we will keep you in prayers. -
you are given the chance to stand up. have u learnt wat went wrong?Originally posted by Bankrupted:Thanks for the very sound and supportive advice.... really appreciate that....
Well, as for those who are curious to know the cause of it...well, I admit that it was due to personal greed....I dabled heavily in stocks and lost beyond my limits...... I know some people might say that I have brought this upon myself...yes, I admit that... but who doesn't make mistakes in life, right? And when we do so, are we given the chance to stand up again? That is wat i am trying to put across here...
keep on trying!! -
alot of people here is also having financial problem...*sigh* what to do...
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Hi,Originally posted by Bankrupted:I am lost, perplexed, confused, angry and wat can I say?
I thought that by being a bankrupt, the fears and woes of receiving those irritating and endless calls from the banks would stop......... Never had I expected that being a bankrupt, basically the whole society shun away from you..........when u approach a friend, they think u wanna borrow $$$$, when u apply for job, they look at u and say "thank you"...........
What mess have I got into? Oh GOD! Plssssssssssssssss HELP me ... I still have 2 young kids to feed and I can't go on being jobless for long............
Is SG really willing to give those who failed a 2nd chance like wat the new PM says???????? I really dunno............
Everyone in singapore is having the same problem just like you and me. It's hard to find one true friend who can sit down and listen to you. Being bankrupt is a very difficult choice but it's the last resort unless you have other alternatives.
If you are bankrupt, there are lots of restrictions. There are long term and short term. During bankrupt period, you will not be allowed to do things like taking cab and other stuffs. Try to call up your creditors to arrange an installment payment to ease off your current debts. Although it's hard but it won't give you much stress. -
Hi,Originally posted by Bankrupted:I am lost, perplexed, confused, angry and wat can I say?
I thought that by being a bankrupt, the fears and woes of receiving those irritating and endless calls from the banks would stop......... Never had I expected that being a bankrupt, basically the whole society shun away from you..........when u approach a friend, they think u wanna borrow $$$$, when u apply for job, they look at u and say "thank you"...........
What mess have I got into? Oh GOD! Plssssssssssssssss HELP me ... I still have 2 young kids to feed and I can't go on being jobless for long............
Is SG really willing to give those who failed a 2nd chance like wat the new PM says???????? I really dunno............
Few more things to add. it's not a shame to declare bankrupt. Although society shuns from you but most importantly, your family stays with you! Perhaps you can try to look for a part time first. I believe that there are few employers still willing to hire ppl who are declared bankrupt. What you can do now is to repay all your debts and then your bankrupt status will be lifted.
How about your wife? Is she working now to sustantiate the household? In this current time and the market, it's hard to depend on one income earner to pay for all the bills at home.
Hope that your problems will be solved. Just have to persevere for the sake of your children's. -
some of the jobs available includes workin in factories?
am workin in one now.. vacation job tho..
hmm.. bankrupt ar.. slowly lo... try to clear them off lo...
my parents were bankrupt too.. but they got out of it le
life might be a bit harder, but, believe in urself, that u can make it thru
wo hui zai jing shen shang zhi chi ni de