Profile of Singaporeans in Bankruptcy

Ms Nadia Ahmad Samdin asked the Minister for Law over the last five years (a) what is the average profile of Singaporeans in bankruptcy in terms of (i) age (ii) employment and (iii) family status; and (b) what percentage of bankrupts are able to pay their monthly Target Contributions.

Mr Edwin Tong Chun Fai: We looked at the group of Singaporeans who were made bankrupt between 2021 and August 2025. Among this group, almost half were between the ages of 40 to 54 at the time of bankruptcy.

Based on the information disclosed by bankrupts in their Statement of Affairs, more than two-thirds were employed at the time of bankruptcy. Almost two-thirds were married at the time of bankruptcy, with more than three-quarters of this group having immediate family dependents.

More than 80% of bankrupts have been paying their monthly contributions.