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T O P I C R E V I E W
helpless11
Posted - 25 June 2009 : 09:15:04 Hi I am a Belgian citizen who came to UK Four years ago I am also a UK residence. 3 years ago I started t work as a sole- trader. I am in debt to two banks and several credit card companies approximately a total of 57 thousand pounds. I couldn’t do very well with my business in UK so I stopped my business one year ago and one year ago I moved to Iran for business. During last year I kept paying my debt every months a total of £1250 each months and I didn’t miss a payment and I didn’t use any of my credit during last year.
This month things went bad in Iran and I lost my job and I wouldn’t be able to make £1250 each month to UK. My biggest debt is £18000 business loan plus £4000 business credit card to HSBC bank. I also have debt to MBNA credit card around £13000 The rest are from £7000 to £500 a Total of £57000. If I come back to UK I am not eligible for any unemployment help or any other social benefit I don’t have a place of my own to stay and I can not afford one so I have to stay with friends. I hardly have enough money to come back and I am not sure it can cover bankruptcy costs. In other hand during last week I read a lot of literature about bankruptcy and most of them are scary. I am not a criminal but since I went abroad for business and failed and I DON’T HAVE ENOUGH MONEY TO HAVE LEGALL representative I don’t want to run into serious consequences. I really seek help and advice what is the best solution for my situation. Thank you Best regard
1 L A T E S T R E P L I E S (Newest First)
Suzanne
Posted - 25 June 2009 : 15:23:59 Hi helpless11
Bankruptcy would be a good solution for you, especially if you have no income, and no assets. On the basis that you were resident in the UK within the last 3 years, you should be able to petition for your bankruptcy here.
If you are in this country and receiving benefits, you may also be eligiable for a discount on the fee from £510 to £360.
