Is the non-payment of the monthly instalments the only reason for the Official Assignee (“OA”) to issue the Certificate of Failure?
The non-payment of the monthly instalments is not the only reason for the OA's consideration before issuing the Certificate of Failure.
The OA may also issue the Certificate of Failure if the debtor furnishes information or documents which are false or misleading or contain any material omission, if the debtor has made preferential payments to any of his creditors, or if the debtor managed to obtain the approval for a lower monthly instalment by means of fraud, false representation or the concealment of any material fact, etc.
Related questions
Can I appeal against the Certificate of Failure or the Certificate of Inapplicability issued against me?
What happens if a debtor on Debt Repayment Scheme (“DRS”) defaults on his instalment payment?
What makes a debtor unsuitable for the Debt Repayment Scheme ("DRS")?
How and when will the debtor be informed that he can commence the Debt Repayment Scheme ("DRS")?
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