Author Topic: Advice Needed  (Read 838 times)

drew321

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Advice Needed
« on: Nov 22, 2011, 09:11:44 PM »
Hi
 
I've been brousing the forum and have found some good info. If someone could advise on my situation I would be very greatful.
 
I moved abroad leaving around 11k in debts, car finance, credit cards, phone bill. I return home once a year too see family etc. The situation is starting to get a little heavy with creditors threatening all sorts. I'm thinking about applying for bankruptcy on my next visit home just to put an end to it as I'm happy where I am now.
 
Would I beable to do this in a 2 week holiday? or would I need to be in the UK for any amount of time after applying?
 
Also, could someone explain what is meant by the 12month period before discharge? what is being discharged? and what are you before your discharged?
 
Thanks for any advice
 

James Falla

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Re: Advice Needed
« Reply #1 on: Nov 28, 2011, 05:18:46 PM »
Hi Drew
 
How long ago did you move abroad? If it is longer than 3 years ago then you will not be able to declare yourself bankrupt in the UK unless you still have a residential address here. Basically if you have family here and can use their address then this should be OK but I would suggest you speak to me directly about this first.
 
In terms of declaring yourself bankrupt, yes you can certainly get it down within 2 weeks. The 12 month period you refer to is the period that you will remain bankrupt for. After 12 months you are discharged which means that you are no longer a bankrupt person. 
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drew321

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Re: Advice Needed
« Reply #2 on: Nov 29, 2011, 11:44:12 AM »
Hi James
 
Thanks for the information.
 
I've moved abroad for a year and I'm planning returning to the UK next year sometime so this will fall within the 3 year time frame. I could also use my mothers address, would this bring any problems for her?
 
Would the courts need to know everything about how I funded my move abroad etc? I have been paying my creditors until recently, but its becoming difficult.
 
Would I even need to tell them I'm living abroad? Could I not just say I'm out of work and finding it hard to pay, as I was self employed when living in the uk.
 
 
Thanks
 
Drew

James Falla

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Re: Advice Needed
« Reply #3 on: Nov 29, 2011, 12:09:52 PM »
Hi Drew
 
Given that you have been out of the UK for less than 3 years you do not have a problem in terms of being able to declare yourself bankrupt here. What ever happens you can declare yourself bankrupt in the High Court in London without a problem.
 
If you want to use your Mother's address and say that it has continued to be your permanent place of residence that would also be OK. It would mean that you can then declare yourself bankrupt in your local court and save yourself a trip to London. Doing this will not affect your Mother in any way.
 
I would be inclined to tell the court about your move. It just makes things easier. If you funded the move with borrowing then this will normally not make a difference to the outcome of your Bankruptcy. 
 
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