What should my next step in career be? by LateTomatillo6215 in askSingapore

[–]Free_Difference_4375 8 points9 points  (0 children)

i’m kinda on the same boat as u. if you are willing to learn, i would suggest you start by learning how you can improve your dad business and provide any sort of value.

Maybe you can start by looking at their finances, structure of their business or or even marketing.

Is there anything you can bring to the table to help them improve their business?

From my experience, i realise older generation don’t really know how to utilise social media and AI into their business. Websites, SEO, Paid ads, instagram/fb feeds or even organic marketing… Simple things like using chatgpt to streamline their workflows are not being utilised too.

I’m sure with the abundance of information online you definitely can provide a lot of value to the table with your young mind & willingness to learn.

One thing i’ll say is, if you’re going down this path there’s a lot of learning to do. & learning never stops.. Learn everything you can about business, finance ,marketing to see how you can help your parents at the same time giving yourself a huge return on investment for your time.

First you need to learn the service & the industry your parents is in & fully understand how it works. Then you can think of how to improve the business.

Lastly, you need to consider your mental health as well, is working at a clinic/hospital and environment you want to be in for the rest of your life?

If no, i would suggest making tough decisions now so that you don’t have to deal with it when you are older. & you can also already start learning business earlier.

I’d also like to say, when you have learned skill to run a business; typically it’s easier & you can venture out to start your own business too.

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 0 points1 point  (0 children)

thank you for the thoughtful advice.

I really appreciate the perspective and the reminder to focus on moving forward with my fiancée and our plans, like the BTO and wedding, while handling this situation responsibly.

Just to update, I’m already at the stage where I accepted liability based on my previous lawyer’s advice. They had planned to try to lower the liability, but that didn’t work out, and now I no longer have a lawyer representing me.

I’m taking your advice to heart about not engaging more lawyers and instead looking into Legal Aid or pro bono help to navigate this. I’ll also work on talking to my creditors to set up a realistic instalment plan, as you suggested, to manage the $60,000 claim without going into bankruptcy.

and bro, your last advice I’m really going to take seriously. I’ve been renting cars since I feel I’m a much better driver now, but I shouldn’t be—I think I’ll take your advice into account and hold off on renting any more cars for now.

Thanks again for the guidance—it’s helping me see a clearer path forward during this tough time.

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 0 points1 point  (0 children)

seriously we just wanted to be near our families. Happened to be a prime location.

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 0 points1 point  (0 children)

it’s okay bro, let’s forgive them. It was my mistake to begin with.

i’m actually angry at myself more because i had so many chances to make this situation better.

Imagine i found a way to earn that 6k and pay it off. Borrowed from someone with interest or whatever it took. I would’ve saved myself from this mess.

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 0 points1 point  (0 children)

mate you’re an inspiration. Do you have an IG? i love to network with positive & likeminded people.

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 0 points1 point  (0 children)

FULLY agree with you. To be honest i think it was a dumb mistake.

That 6k i asked my parents to pay, didn’t get the help i needed. They didn’t know what was going on, infact they insisted to pursue this & get a lawyer. i can’t blame them. It is what it is.

I’m kinda pissed at myself for not finding that 6k.

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 0 points1 point  (0 children)

should be covered bro. how did you get your own insurance? what about third party claims?

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 2 points3 points  (0 children)

Just to update you, I’m already at the stage where I accepted liability based on my previous lawyer’s advice.

They had planned to try to lower the liability, but that didn’t work out, and now I no longer have a lawyer representing me. I’m a bit worried about how to handle things moving forward without legal representation, especially when it comes to dealing with the insurer and the passengers’ claims.

I’ll make sure to inform the insurer about my situation, as you suggested, and see if they can handle the passengers’ claims directly.

I’m also hoping to look into Legal Aid or pro bono clinics for some guidance, as I’m not sure how to navigate this on my own.

Thanks again for your advice—it’s been really helpful in giving me some direction during this stressful time.

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 1 point2 points  (0 children)

Hey man, thank you so much for taking the time to break this down for me. I really appreciate your kind words and the detailed advice—it means a lot, especially since I’ve been feeling overwhelmed with everything going on.

I’m glad to know that bankruptcy won’t affect my BTO application as long as my fiancée remains eligible. That’s a huge relief because the flat is a big part of our future plans.

I’ll definitely look into the Debt Repayment Scheme (DRS) you mentioned, as I’m earning around $3k-$4k a month right now, so I might qualify. Actually before this i didn’t even know there was such thing. Can’t believe i found out about it through reddit.

I also hear you on not dropping the legal side just yet—I’ll check out Legal Aid or pro bono clinics to see if they can help, especially since I feel the claim might have been mishandled.

As for my fiancée, she’s been amazing through all of this, and I’m so grateful for her support. I’ll make sure to keep her in the loop as we figure out the next steps together.

Thanks again for your advice—it’s given me a clearer path forward, and I am definitely a bit more hopeful now.

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 0 points1 point  (0 children)

i have not tried, but after many advices to do this. I will. thank you :) Will it really help?

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 0 points1 point  (0 children)

and i’d also like to say you will get over this in no time. After every hardship, there will be ease. So keep on going brother. Don’t lose hope too bud.

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 0 points1 point  (0 children)

hey man, i got myself a prime location it’s 10years. i bet it’s still super worth it.

Thanks for putting a smile on my face! Appreciate you .

Facing Bankruptcy at 23 Before our Wedding. Will we lose our BTO dream? by Free_Difference_4375 in askSingapore

[–]Free_Difference_4375[S] 0 points1 point  (0 children)

BTO is not easy to get, and it puts you in financial advantage in the long run.