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Gareth.44
Starting Member
3 Posts |
 Posted - 25 December 2010 : 20:02:40
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| Please help me with your advice,I am working and living in the UK i have british passport born UK,I moved back to UK 2 yrs ago from South africa I had no choice to leave because of credit card dept and had no job.my wife has family in SA and wishes to visit.The plan was to pay back the dept but we just dont seem to makes ends meet.Should we declare bankrupt?Thank you |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 25 December 2010 : 20:32:17
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Hi Gareth.44, welcome to the forum.
Are your debts in South Africa or do you also have UK debts?
Without knowing your full situation, we can't really advise.
Please either post some more info or give one of the experts on the site a call.
There will be a solution for you so please seek advice soon.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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Gareth.44
Starting Member
3 Posts |
Posted - 25 December 2010 : 20:41:18
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quote:
Originally posted by Viki.W
Hi Gareth.44, welcome to the forum.
Are your debts in South Africa or do you also have UK debts?
Without knowing your full situation, we can't really advise.
Please either post some more info or give one of the experts on the site a call.
There will be a solution for you so please seek advice soon.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
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Viki.W
forum expert
United Kingdom
2211 Posts |
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Gareth.44
Starting Member
3 Posts |
Posted - 05 January 2011 : 17:45:49
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Hi viki,thank you for your reply,yes all the dept is in SA and is credit card in my name and my wife,its been over 2 yr so i think it would have escalated out of control,I really need advice on how to sort it out in case we wish to go back and visit family.I heard that after 5 yr it would be wiped clean?Thank you Gareth
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 06 January 2011 : 10:57:19
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Hi Gareth,
Yes, technically, you can declare bankruptcy here and it means that your SA creditors can't pursue you here.
However, if you were to ever return to SA then the creditors can pursue you for the debt.
I presume you are talking about statute barred when you mention wiped clean. I know it's 6 years here, but there are certain issues regarding that, but I don't know the rules in SA sorry, perhaps one of your wife's family can research that there a bit more for you.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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Please help me with your advice
