Loans for Bankrupts in Singapore | Approved in 15-Mins

i-Credit, a licensed moneylender in Singapore, lends to individuals who are undischarged or discharged bankrupts. Bank credit policy treats bankruptcy as an automatic exclusion rather than a scoring factor, so it declines applications before assessing affordability. i-Credit assesses current income and repayment capacity instead, allowing it to provide financial assistance to individuals who are bankrupt.

i-Credit Pte. Ltd. is a registered and licensed moneylender under the Ministry of Law and has been operating since 2009. We have assisted over 2000+ bankruptcy individuals over the years. Our office is conveniently located at 82 Lorong 23 Geylang, #05-02 ATRIX, Singapore 388409, opposite Aljunied MRT and is open 7 days a week except during public holidays.

Application Form

What is an i-Credit bankruptcy loan?

An i-Credit bankruptcy loan is an unsecured personal loan for someone who is an undischarged bankrupt in Singapore, or who has been discharged. i-Credit has lent to bankrupts since 2009, and we are the first moneylender in Singapore to offer bankruptcy loans.

Banks and other financial institutions will decline based on bankruptcy status before assessing affordability. At i-Credit, we assess your eligibility using payslips, CPF contribution history and your bankruptcy order or discharge certificate to determine what you can actually repay. Learn more about i-Credit’s instant loan without documents.

Can I get a personal loan while bankrupt?

Yes. A licensed moneylender in Singapore may lend to an undischarged bankrupt, and to someone who has been discharged. It is assessed, not guaranteed, and if you are undischarged you have a legal duty to disclose your bankruptcy when obtaining credit at or above the statutory threshold. i-Credit captures your status on the application form, so applying here does not put you in breach of that duty.

Click the button below to check eligibility.

What is Bankruptcy Loan application process like?

Marcus

i-Credit Loan Officer. Aljunied Branch

Send the form during office hours and you can expect a reply in about fifteen minutes. The office visit itself, briefing through to cash in hand, takes about an hour.

Fill in the online form. Two minutes. Tell us whether you are undischarged or discharged, and what you earn.
We reply, usually within fifteen minutes during office hours. We will ask for your income and, if you are undischarged, your monthly contribution to the Official Assignee. You get an indication before you travel anywhere.
Come to the Geylang office with your documents. Briefing, paperwork and disbursement take about an hour once your documents are complete.
Sign and collect. The loan contract, the repayment schedule in writing, and the cash, in the same visit.

What documents do I need to apply for an i-Credit bankruptcy loan in Singapore?

Documents required include:

NRIC
Singpass access
Last 3 months of payslips or bank statements
CPF contribution history through Singpass
Proof of residential address

If you are undischarged, also bring: the bankruptcy order or your Official Assignee reference, and your current contribution schedule.

If you are discharged, also bring: your certificate of discharge.

If you are unsure, simply fill out the eligibility form and our staff will call you and adviseyou on what is required.

How much does a loan for Bankrupts in Singapore cost?

Every charge below is capped by the Moneylenders Rules. The caps are law and bind every licensed moneylender in Singapore, regardless of your credit history. A lender quoting you more than these figures is not licensed, and that is a fact you can check rather than a claim you have to trust.

Interest rate	Up to 4% per month
One-time administrative fee	Up to 10% of the loan principal
Late payment fee	Up to S$60 per month
Total charges	Cannot exceed the original loan principal

How much can a bankrupt person borrow in Singapore?

The ceiling is set by law, by annual income band, across all licensed moneylenders combined rather than per lender.

That is the ceiling. What you will actually be offered sits below it, because the assessment is affordability rather than entitlement. For an undischarged applicant the OA contribution comes off your income before we look at what a repayment would take, so expect a smaller figure than the band suggests.

Who Can Apply for i-Credit's Loan for Bankrupt?

You are undischarged, still working, and short this month

The order is in force, you are meeting the OA contribution, and you have been meeting it. Then something lands that the contribution schedule leaves no room for. A hospital bill for a parent. A fine with a date on it.

Every bank you approach declines on status, so nobody ever looks at the fact that you have paid your contribution eleven months running. We look at exactly that. The assessment is your current income, less the OA contribution, against the repayment. If what is left will not carry the repayment, we will tell you so rather than write the loan, because a second obligation you cannot meet helps nobody and can prejudice your discharge.

You are discharged, and the declines have not stopped

The order ended. The certificate is in a drawer. And the bank still says no, because the record outlives the order and bank policy keys off the record.

Two questions come up constantly here, so here are the answers. How soon after bankruptcy can you apply? Immediately. There is no waiting period for a licensed moneylender, discharged or not. Does discharge make the assessment easier? Yes, in one specific way: there is no OA contribution coming out of your income, so more of it is available to service a repayment, which usually means a larger amount and a shorter conversation. Bring the discharge certificate and it moves faster still.

You went bankrupt through a business, and you want to work again

While you are undischarged, you may not act as a company director or take part in the management of a business without leave. That restriction lifts on discharge.

So while the order is in force, what is available is a personal loan assessed on your employment income, not business finance. If the plan is to restart something, the sequence is employment first, discharge second, and the business after that.

You are under the Debt Repayment Scheme, not bankrupt

Different status, different rules. DRS participants are not bankrupts, the borrowing rules are not the same, and this is not your page. See loan while under the Debt Repayment Scheme, which answers the disclosure question for DRS specifically.

Undischarged or discharged: which one are you?

Undischarged means the bankruptcy order made by the High Court is still in force. The Official Assignee, or a private trustee, is administering your estate. You are likely paying a monthly contribution towards it.
Discharged means the order has ended and you hold a certificate of discharge. The record persists for a period afterwards, which is why banks keep declining you long after the order is gone.

Bankruptcy order	Still in force	Ended, certificate issued
Who administers your estate	Official Assignee or private trustee	Nobody, the administration has closed
Monthly contribution to the OA	Usually yes	No
Duty to disclose when borrowing	Yes, at or above the statutory threshold	No statutory duty, but disclose anyway so the assessment is accurate
Company directorship or managing a business	Restricted without leave	Restriction lifts on discharge
Bank loans and credit cards	Declined on status	Usually still declined while the record persists
Can i-Credit assess you	Yes	Yes
What we assess on	Current income, less the OA contribution	Current income

FAQ about Urgent loans for bankruptcies in Singapore

Can I get a loan if I am a bankrupt in Singapore?

Yes. A licensed moneylender may lend to an undischarged bankrupt, and the assessment is based on your current income and ability to repay rather than your credit history. It is assessed, not guaranteed, and if you are undischarged you have a duty to disclose your bankruptcy when obtaining credit at or above the statutory threshold.

How soon after bankruptcy can I apply for a loan?

Immediately. There is no waiting period for a licensed moneylender, whether you are undischarged or discharged. What changes with time is the arithmetic: while you are undischarged, the monthly contribution to the Official Assignee comes off your income before affordability is assessed, and after discharge it does not.

Can I get a loan with no credit check?

No, and any Singapore lender offering one is not licensed. A licensed moneylender is required to assess whether you can afford the repayment before lending, which means looking at your income. “Guaranteed approval” and “no credit check” are the clearest signal that you are dealing with an unlicensed lender. Check any lender against MinLaw’s Moneylenders list before you reply to them.

Can I get a business loan after personal bankruptcy?

i-Credit only offers personal loan, we do not offer any working capital or business loan.

Will taking this loan affect my discharge?

A disclosed, affordable loan sits alongside your contribution schedule and does not interfere with it. What prejudices discharge is failing to disclose credit at or above the statutory threshold, or taking on a repayment that causes you to miss contributions to the Official Assignee.

Do I have to come to the office?

Do I have to come to the office? Yes. Singapore law requires a licensed moneylender to verify your identity and sign the loan in person at the licensed premises. We are at 82 Lorong 23 Geylang, #05-02 ATRIX, 388409, directly opposite Aljunied MRT, open Monday to Friday 11am to 8pm and Saturday and Sunday 11am to 4pm.