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Questions about Bankruptcy?

Re: Money = Freedom ?

whats the definition of "writs of seizures" and when will banks apply this? Cheers!

Not sure about this. But I was told by a friend who had gone through this that the Court will write to you on the date of the seizure. This gives you some time to "get ready". You can take the opportunity to remove some valuable assets before that. But don't remove everything for obvious reasons.

Things where other household members can prove were purchased by them instead of you are spared. Items to be seized will be affixed with a note.

A date for auction will be fixed later with karang guni man coming to bid. You can get your friends to bid on your behalf at slightly higher price than others. That way, you get to keep those items.
 
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