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brboy
Starting Member
United Kingdom
2 Posts |
 Posted - 05 April 2011 : 21:44:55
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I have just been made redundant from my job in the Netherlands, where I lived for te last 6 years, however, for the last year my wife has been living in the UK, and I have comuted to and from NL. My house there is going to auction soon (bank requested it), but it is expected to leave nearly 60k euros of debt, and i have a 75k loan which I can no longer pay. I also owe all of the utilities in the netherlands and things like that. I also have over 40k of debt in the UK, and am now looking down the barrel of a gun. I want to declare bankruptcy, but am confused about a lot of issues, such as how much a month they will allow us, especially if I am on benefits, how it works with bank accounts if I go bankrupt, and what happens if I do get a job. I am also likely to be thrown out of my rented accomodation due to a bankruptcy clause in the tenancy agreement.
I am really stressed at the moment (blood pressure high etc) and really need some advice. One insolvency practitioner quoted 800 pounds for their services, and as my wife also has to go bankrupt, we would double this, and cant afford that on top of the court and receivers fees. Any advice would be greatly appreciated. |
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debtinfo
forum expert
2826 Posts |
Posted - 05 April 2011 : 21:56:26
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| Are you still living in the netherlands if so you cannot currently go bankupt in the UK as yu are not resident or trading here |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 05 April 2011 : 22:11:19
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HI BR boy
as debt info says if you permanently living in netherlands you cannot petiton in UK
i note that you have commuted too and from the UK for the past year, you would have to, in effect proove that for the greater part of the last 6 months your UK home has been the centre of your main interest.
from what you have typed Bankruptcy would seem the realistic option for you, speak to a couple of specialist bankruptcy firms and see how they can help you.
re bank account try coop cashminder they are helpful, can apply over the phone but they may get funny because you do not have a regular address in the UK.
if you have only just missed your first payments you have considerably more time than you would think, so do not feel that you have to run to court immediatly, yes now is a good time to gather information and start the balls rolling
Good Luck Richard,
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glafy
forum expert
436 Posts |
Posted - 06 April 2011 : 06:39:43
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Morning brboy & welcome to the forum.
I do hope that the experts on here can help you with your decision. Have you thought of contacting one of the experts who post on here?
Their link is to the left of this page. It may be easier for you to have a chat with one of them.
Good Luck & keep us posted.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 06 April 2011 : 08:53:43
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Where you go bankrupt is all to do with "Centre of Main Interest". This is a measure of either where you live ( or have lived for the majority of the last 6 months ) or where you have carried on in business .
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
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brboy
Starting Member
United Kingdom
2 Posts |
Posted - 06 April 2011 : 11:04:41
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Thanks for all you help.
I am currently residing in the UK, as I have been made redundant from my job in the netherlands.
I assume that my wife also needs to declare bankruptcy, because her name is on all the loans and things?
@Richard: It is not the first payments that I have missed, over a year ago, I started having trouble, my salary was almost cut in half, whilst I could not sell my house, and could not afford to pay for it.
I now am 3 payments behind on the loan, 6 on the mortgage, but the bank is auctioning the house, and many payments behind on other things, plus the 40K of debt I left behind in the UK 5 years ago when I left is still there.
N one mentioned about how much money thay will allow you to earn. I am currently unemployed and if I get a new job, what is the point of getting a really high paid stressful job, if I can get a low paid one locally and survive on that. Currently my monthly outgoings are over 1600, and that is after cutting out all the unnecessary stuff.
Does anyone have a list of things thay will allow you to keep in the house, for example, I have two computers, as I am an IT guy, one is a laptop, and if I have to sell either of them (both over 4 years old) then I will suffer with my profession. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 06 April 2011 : 16:10:38
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Hi Brboy
the Or / trustee is looking for major value, rembrandts on the wall, high spec value motor, equity within the property
things like older computers and household day to day items , it would probably cost the Or more to come and collect than the price they would get for the items in an auction. you are allowed to keep tools of your trade.
THE OR wants you to be able to start again and be able to work, so they will ask you to submit an income and expenditure sheet. you can claim most things that you would normally need for day to day life as long as not extravagant. if you do not do so already run a book / account sheet on what you actually spend out.
as i post many times it is very good to speak to one of the experts on this forum, i say this as every ones situation is different and we all have thousands of questions, every ones situation is slightly different so the answers will also be variable
Good Luck Richard,
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I have just been made redundant from my job
