I am British but now reside in Canada. I am a Permanent Resident here now but have struggled to earn enough money to live on and to pay off my UK debts of nearly £19,000. The repayments are over £500 per month and I am just using debt to pay debt. This is causing me a lot of stress as I had never been in debt until three years ago and much of it is due to supporting my ex-partner who also took a lot of money from me. I feel that the only option is to declare bankruptcy as I also have debts of about £2000 here in Canada and I do not wish to get on the same slippery slope. I have no assets or property.
What is the best approach as I am no longer resident?
I am currently about to inform my creditors of my Canadian address and phone number and my financial difficulties. I will be returning to the UK in October. Should I inform creditors that I am unable to pay and am taking advice OR do I inform them now that I plan to declare bankruptcy and then do so on my return. Or can I go through the process remotely?
I do not wish it to appear that I am just running away from my debts so I wish to communicate in the best way with my creditors.
I will be grateful for any advice you can give me. Many thanks. LM
It is possible to file from Canada, using an agent to represent you in the UK, but if you are returning in October it might be better to have the forms filled out ready - and the payment of £495 - and attend Court yourself.
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
using debt to pay debt, no longer resident in UK
Posted - 14 June 2008 : 08:51:57
