I am writing to seek advice or probable solutions to my current situation that I am facing.

I have just started out about a year and a half ago as a sole proprietor to my own business. A little information on what I actually do.

I started a company in my own name to sell cars, all has been going quite smoothly until recently I received several lawyer letters from a client of mine demanding that I refund a sum of money as I have not delivered his order.

This happened not because I took the money for myself and refuse to return him the money but because I have transferred his money to my supplier in Japan to purchase this unit.

Unfortunately, this Japanese supplier of mine went missing and almost unreachable most of the time while I tried to locate and find her. Even when she did responded, all she could tell me was to wait and she would settle the matter. Until now, this incident has dragged on to numerous months and have reached no conclusion nor headway. To my knowledge, this supplier that I have purchased the unit from is a S Pass holder in Singapore. Therefore, if she have left the country for good, there is nothing that I nor the police could do. I have previously dealt with this supplier before and had met no such problems until this particular case.

Till date, this client has slapped me with a bankruptcy act even though I was merely stuck in between this deal. I have 19 days from now to cough out this huge sum of money to this client otherwise I would have to face the ordeal of being named a bankrupt. I have also tried pleading to this client of mine to either give us some more time or lower the repayment instalment amount but to no avail. I am willing to shoulder this heavy debt but the instalment amount is simply too much to ask of me as I am merely earning enough to cover survival as of now. There is simply no way I could meet his required monthly amount. I have not directly caused this to happen but now I am responsible for paying off this bad debt that has caught me by surprise

I am at a loss now and I am wondering if accepting this bankruptcy would be the only option for me?

I no longer am operating this company as there is simply no way I could go on operating it given this situation and the current market situation that had just became worse off.

I am very troubled and shaken by this whole incident, I have a whole life ahead of me and it is no wish of mine to take this forsaken road. I am only in my late twenties and I am already faced with bankruptcy charges, I do not really know or even see my future ahead of me if this should really go down this road.

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