Source: Straits Times
Article Date: 15 Mar 2025
Author: Chor Khieng Yuit
MinLaw data shows number of borrowers declared bankrupt rose by 12.4% to 1,232.
More than half of the bankruptcy applications in 2024 were made by the debtors themselves, according to the Ministry of Law (MinLaw).
This is the fifth consecutive year since 2020 that the number of self-filed applications was higher than the number of applications by creditors, based on figures the ministry provided to The Straits Times in response to queries.
MinLaw data showed that 2,928 bankruptcy applications were filed by debtors in 2024. That represents 59 per cent of all applications made that…
