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Singapore Statutory Advisory: Operating strictly under Singapore IRDA 2018 guidelines. Free confidential evaluations.
WeCare Consultancy Pte Ltd
Singapore Insolvency & Restructuring Advisory • IRDA 2018

Expert, confidential guidance through bankruptcy and DRS.

Unmanageable debt is stressful, but Singapore law provides structured, protective legal remedies. We provide clear, non-judgmental advisory on the Debt Repayment Scheme (DRS), personal bankruptcy, and asset protection — helping you regain control and protect your future.

Free, strictly confidential case evaluation
Creditors & employers are never contacted
Assessment by senior insolvency practitioners within one business day
Read the DRS guideUnderstand bankruptcy
Advisory Intake · SG-IRDA
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Google rating · 20 reviews
5.0
Debts assisted
>$355M
Satisfied clients
265+
Partner trustees
8
§ 01/Statutory Resolution Framework

Singapore debt relief decision matrix

Under Singapore law (IRDA 2018), debt remedies are structured by statutory criteria. Select your circumstance to inspect the applicable protections, legal constraints, and resolution pathway.

Statutory Authority:Insolvency, Restructuring and Dissolution Act 2018 (Part 5)

Debt Repayment Scheme (DRS)

A formal, court-administered restructuring alternative to bankruptcy that allows you to repay debt over a fixed 5-year period without the public stigma or statutory disabilities of bankruptcy.

Key Legal Protections & Guarantees

  • Immediate statutory stay on all creditor legal action and interest accumulation
  • No publication in the Singapore Government Gazette or Bankruptcy Register
  • Full retention of existing employment, professional licenses, and company directorships
Eligibility Criteria

Total unsecured debt not exceeding S$150,000 with a regular source of income.

Asset & HDB Protection

HDB flats, CPF savings, and essential personal assets remain protected by law.

Travel & Professional Career

Unrestricted overseas travel without requiring approval from the Official Assignee.

§ 02/Advisory Standards

Why clients entrust their restructuring to WeCare

Independent, discreet insolvency counsel tailored strictly to Singapore legal and regulatory frameworks. We eliminate friction, shield your assets, and protect your privacy.

Practice Standards Guarantee

Every file is managed under strict PDPA compliance, with direct consultation from senior practitioners. Zero court appearances required on your end.

ADVISORY PILLAR 01 · FEE TRANSPARENCY01

Guaranteed Lowest Rates

Secure the exact same optimal outcome without the premium price tag. We offer highly transparent fees and will happily match any verified quote.

ADVISORY PILLAR 02 · EXPEDITED RELIEF02

Priority Service Available

Advance your hearing date (subject to availability) for faster relief. We handle the complexities, with zero court appearances required on your end.

ADVISORY PILLAR 03 · PROVEN TRACK RECORD03

Experienced Lead Consultant

Guided by a compassionate lead consultant who has successfully handled 200+ cases, backed by highly positive, genuine Google reviews from clients.

§ 03/Verified Client Outcomes

Client experiences & case outcomes

5 average from 20 verified Google reviews
Read all 20 reviews
  • “Good experience with Donny from WeCare Consultancy. He responded to my questions and explained the bankruptcy process without using too much legal jargon. The consultation gave me useful direction during a difficult period.”
    Christine LeeGoogle review · Verified Client
  • “I’m truly thankful to Donny from WeCare Consultancy for his kindness and support during a challenging time and process. He listened patiently, offered sincere and practical advice, and never made me feel judged. His guidance eased my burden.”
    TAN SCGoogle review · Verified Client
  • “Highly recommended! Donny was very helpful, attentive, and detail-oriented. He went the extra mile to make sure everything was taken care of and provided excellent service from start to finish. Thank you for everything!”
    Chan XinningGoogle review · Verified Client
  • “Had a wonderful experience with Donny. A person with knowledge and also helping me step by step with patience. Going through my tough time, his help have made the process smooth. Will definitely recommend Donny to anyone who needs help.”
    Chua JackGoogle review · Verified Client
  • “As me and my wife were going through business financial uncertainties, there was no clear guidance we could rely on. Spoke to a few companies and all said the same thing without explaining well. Then we came to WeCare — Donny gave us clear, practical advice.”
    Iswandy AmirGoogle review · Verified Client
  • “I had a very positive experience with WeCare Consultancy. The consultant was professional, patient, and took the time to explain every step clearly. They treated my situation with empathy and never made me feel judged. Their advice was genuine and practical.”
    Ying Hong ChanGoogle review · Verified Client
§Pre-Bankruptcy Solution

The Debt Repayment Scheme (DRS)

The Debt Repayment Scheme (DRS) is an initiative introduced by the Ministry of Law to assist individuals in managing their unsecured debts, acting as a highly preferable alternative to bankruptcy. Administered by the Official Assignee (OA), the DRS allows you to consolidate your debts and repay them over a fixed period without the harsh restrictions associated with formal bankruptcy.

Who is eligible for the DRS?

Not everyone qualifies for the DRS. The scheme has strict statutory requirements under the Insolvency, Restructuring and Dissolution Act (IRDA). To be considered, you must meet the following criteria:

  • Your total unsecured liabilities must not exceed S$150,000.
  • You must be gainfully employed and earning a regular income.
  • You have not been a bankrupt, or been on the DRS, in the past 5 years.
  • You cannot be a sole proprietor or a partner in a firm.

How WeCare helps: Entering the DRS is not automatic. A bankruptcy application must actually be filed first, after which the court will refer you to the OA to assess your DRS eligibility. WeCare consultants meticulously evaluate your financial position before any filing, ensuring that you meet all criteria — so you avoid the scenario where a DRS application is rejected and you are inadvertently made bankrupt.

§Statutory Insolvency

Navigating Personal Bankruptcy

When debts exceed S$150,000, or when the Debt Repayment Scheme is not viable, personal bankruptcy becomes the legal mechanism to resolve insurmountable financial distress. While heavily stigmatised, bankruptcy is fundamentally a legal shield designed to protect you from endless creditor harassment and to provide a structured framework for rehabilitation.

The role of the Private Trustee in Bankruptcy (PTIB)

A crucial recent change in Singapore’s insolvency landscape (effective late 2023) means the Official Assignee (OA) now primarily handles cases of public interest. For most individuals filing for self-bankruptcy, you must now appoint a licensed Private Trustee in Bankruptcy (PTIB).

Before filing your bankruptcy application with the High Court, you must obtain the prior consent of a registered PTIB to administer your estate. The PTIB is responsible for reviewing your assets, establishing your Target Contribution (the amount you must pay monthly), and eventually handling your discharge.

Restrictions imposed

  • Cannot travel overseas without PTIB approval.
  • Cannot borrow more than S$1,000 without disclosing bankrupt status.
  • Cannot act as a company director.
  • Cannot manage a business without permission.

Protections gained

  • Immediate halt to all creditor lawsuits and legal demands.
  • Cessation of compounding interest and late fees.
  • Clear, defined timeline for discharge (typically 3 to 7 years).
  • Protection of necessary household furniture and personal effects.

How WeCare helps: We demystify the entire process. We analyse whether bankruptcy is your optimal route, assist in compiling the substantial documentation required, and crucially, we liaise with reputable Private Trustees on your behalf to secure the necessary consent before High Court lodgment.

§Critical Information

Asset & HDB Flat Protection

The most common fear surrounding insolvency is the loss of one’s home. Singapore law provides specific protections for public housing, balancing the rights of creditors against the basic needs of citizens.

Private properties & CPF monies

Unlike HDB flats, private properties (condominiums, landed estates) vest in the OA or PTIB upon a bankruptcy order. The trustee is legally obliged to sell the private property to repay your creditors.

Your Central Provident Fund (CPF) monies are statutorily protected. Creditors cannot touch your CPF funds to settle your debts prior to or during bankruptcy. However, any funds withdrawn from CPF before bankruptcy may be considered part of your estate.

Statutory Guidance

Frequently asked questions

Clear, authoritative answers to the insolvency and DRS questions our consultants are asked most often.

No. The Debt Repayment Scheme (DRS) is not an application you can make directly. The process begins with a bankruptcy application filed in the High Court (either by you or your creditor). If your total debt is under S$150,000, the court will adjourn the bankruptcy proceedings and refer you to the Official Assignee to assess your eligibility for the DRS.

Confidential Next Steps

The earlier you seek guidance, the more legal protections remain available.

A single confidential consultation is often all it takes to evaluate whether the DRS, bankruptcy protection, or private restructuring is your most viable route. No judgment, no obligation.

Request a free case reviewWhatsApp 9828 5219