I am a UK citizen living in a EU country where my house was sold by the bank leaving me with outstanding debts of about €450,000. The local financial advisor said I should declare bankruptcy in the UK which would cover all EU debts since bankruptcy locally takes over 6 years to clear. My plan is to move back to the UK and declare bankruptcy after a qualifying period. I have no debts in the UK. Will this work ?
Yes - Declaring BR in the UK will include ALL debts worldwide.
No - This is something that the courts/OR's are on the lookout for i.e. BR tourists who live in one EU country but move to the UK for 6-12 months and then declare BR in order to take advantage of the easier BR laws in the UK rather than the EU country they reside in.
As a UK citizen you would probably need to return to the UK for several years and then declare BR in order to prove you didn't just return to declare BR in the UK.
Technically yes you could move back to the UK for over 6 months and petition, however if all of your debts are in another country then firstly - depending upon which court you attend the Judge will go and get his book to see what the law states. He will probably make you br because that is your right but he will need convincing.
The OR will also want to understand why you have come back.
would br in the UK cover all EU debts?
Posted - 26 August 2010 : 15:29:51
