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svt
Junior Member
170 Posts |
 Posted - 10 June 2008 : 18:33:23
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Hi, hope you can give me some advice!
I left the UK two years ago, and built up some debt on my UK credit cards, in the meantime I have bought a house in Australia, where I currently live. Things are very tight financially and I was thinking about seeking bankruptcy in the UK as I can't maintain mortgage here in Aus and payments to UK debts. I have also recently sold my house in the UK and transferred that money back here.
I'm thinking of declaring myself bankrupt in the UK, will I get in trouble for moving money overseas, then going bankrupt within a short period of time?
From what I understand I am reletively unaffected by UK bankruptcy here in Australia?
Thanks,
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 10 June 2008 : 20:44:20
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Hi svt - welcome to the forum!
One of the BR assist experts will be on line soon to advise you as this is not something I know a lot about.
I don't think you'll be in trouble for moving your money overseas but I do know you have to give details on the SOA form of any property you have abroad and any property you have sold in the last five years. This is so the OR can see if there is any money to go into your bankruptcy estate.
If you hold on for one of the BR assist experts to add to my response they can tell you if this is different with you being in Australia.
Regards
Vicki x |
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melanie_giles
Senior Member
1191 Posts |
Posted - 10 June 2008 : 23:23:23
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Just because you live in Australia does not mean that the Trustee will not pursue assets over there. Can you tell us how much your current property is worth (sterling equivalent) how much your mortgage is, how much you are holding in savings and how much you actually owe to creditors? Armed with this information, we ought to be able to offer more assitance.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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moving money overseas then going bankrupt
