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| lucynv |
Posted - 28 September 2010 : 20:03:09
hi
my partner is a belgian citizen living in the UK since January 2010. He borrowed 40,000 Euros to help his fathers business and his father said he would pay the repayments. however, he never did and my partner managed to keep up the payments for the last 3 years but he had been unable to pay the debt in Belgium for the last 3 months. His job is is not well paid and he has this huge debt. he wants to file for BR before the creditors send the debt collectors round. this is my house and nothing is in his name, not even his car, he has no assets whatsoever, either here or Belgium. is bankruptcy the answer? how long will it take for the Belgian creditors to contact the county courts? He asked the loan company to extend the period of the loan or freeze the interest but they declined, he then stopped paying the loan in April 2010.They have not indicated they will be taking court action, so we dont know how to proceed...we are totally confused. |
| 5 L A T E S T R E P L I E S (Newest First) |
| lucynv |
Posted - 30 September 2010 : 17:11:46
just to say that he informed his creditors of his move to the UK and wrote to them to ask if he could extend the loan period to reduce the payments... they declined. He told them he could not afford to make the payments but they did not respond at all. we have heard nothing from them since May. Im not sure if it is not better for him to wait until he has received court papers before filing for bankruptcy. any ideas? i know he can file for BR here as this is his centre of main interest (COMI) he has an NI number, bank account, registed on electoral roll, employed etc etc. He sought a solution with his creditors but they were not interested. |
| lucynv |
Posted - 30 September 2010 : 17:06:51
In Belgium you simply cannot petition for bankruptcy as an individual...it is not accepted. they will take the money directly from your salary and if you do not have a salary then your worries will really begin.
if my partner had remained with his fathers company( had it not been liquidated) then he would continue to pay his debt... but the credit crunch bit hard in the manufacturing industry in Belgium and getting a job in that area that paid enough to pay the bills and debt was just not possible.
Coming to the UK was the only solution as i had a job here, a house here and as he is tri lingual getting a job was not difficult... but... the pay is appalling and the debt payments, bills and rent left him with no money to live on and i cant support him financially, i just dont dont have the money. |
| Reviva UK |
Posted - 30 September 2010 : 13:16:08
the attraction of going Br in England & Wales is that it lasts for 12 months.
Most EU countries have Br procedures ( some do NOT do personal bankruptcy at all )but they last significantly longer.
Southern Ireland is 10 years
Germany is 10 years
etc
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
| RHB |
Posted - 29 September 2010 : 15:12:23
Could he not go BR in Belgium? |
| Reviva UK |
Posted - 28 September 2010 : 23:29:01
if he declares Br in the UK he would probably face a difficult time currently.
Questions that he would have to face are :-
1. should he have borrowed the $40k and was he accurate on his application form
2. The official receiver here are likely to want to pursue his father for repayment of the loan
3. is he resident here and can he formally prove it?
that is just a flavour of what he is likely to go through.
technically it can be done but it would need to be presented very carefully to be successful without significant fallout
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
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