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Sean.33
Starting Member
1 Posts |
 Posted - 24 May 2011 : 08:35:41
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| Hi, I am staying with a friend in the netherlands and although I earn a little money, it is not enough to pay my mortgage and secured loan on my property in the UK. I am not planning to return to live in the UK and was thinking of declaring myself bankrupt. Would it be better to declare myself bakrupt before the house is repossessed or after should it come to this? |
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 24 May 2011 : 09:18:43
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Hi Sean.33
Unfortunately, due to you residing in The Netherlands, you would need to make yourself bankrupt there, although it would include all your GB debts. Please see below the Bankruptcy rule regarding having a "centre of main interest" in another country;
"Under the EC Regulation on Insolvency Proceedings if you live in a member state, except Denmark, you can only open insolvency proceedings (make yourself bankrupt) in the country where you have your "centre of main interests".
There is no definition of a centre of main interests but the Court will usually regard the country where you carry on a business or earn your living as your centre of main interest. The Court will also consider the place where you normally live, i.e. your country of habitual residence. If you are not employed or self-employed your centre of main interests will be the country you normally live in at the date of the petition"
As a result of the above, I suggest that you contact the local bankruptcy court or look on the internet where there are plenty of websites regarding bankruptcy in EU countries.
All the best
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
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Better to declare bankruptcy before or after house repossession?
