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Ali.40
Starting Member
5 Posts |
 Posted - 23 May 2012 : 14:06:32
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I sold a business with huge losses back in 2009. I am now left with Tax and VAT bills of over 200K . I also have a unsecured business loan with Natwest of approx. 70K . I have been living outside of UK since spet 2011. I have no option but to start the bankruocy process .Can I do this and how?
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 23 May 2012 : 14:21:55
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Hi Ali,
Which country are you now living in?
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 |
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Ali.40
Starting Member
5 Posts |
Posted - 23 May 2012 : 15:00:08
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Hello Viki
I live in the UAE
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 23 May 2012 : 15:17:51
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Ok, you can declare yourself bankrupt here. You can return to file for bankruptcy, or pay a company to do it 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 |
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Ali.40
Starting Member
5 Posts |
Posted - 23 May 2012 : 15:32:32
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I was told I had to be resident in UK for at least 3 months before the judge can accept my application. and also once the application is filed , I must remain un UK for the next twelve months ?
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 23 May 2012 : 16:02:22
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Who told you that? Did they know which country you are living in when you spoke to them?
What they told you is incorrect.
As you are now living in UAE, then you can declare bankruptcy within 3 years of leaving. You can return yourself to do it at the High Court, or appoint someone to do it for you (with power of attorney)
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 |
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Ali.40
Starting Member
5 Posts |
Posted - 23 May 2012 : 16:47:19
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I am going back to UK this July. I should then give power of attorney to a solicitor whilst in UK. They can then take care of my bankruptcy ?
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 23 May 2012 : 17:24:03
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If you are coming back in July, then I suggest you complete your forms beforehand which you can download from the Insolvency Service website, complete them, get your fee together and go to the High Court yourself whilst you are back.
That saves you the cost of a solicitor.
But that's only my suggestion, it's entirely up to 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 |
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year 2029
Average Member
590 Posts |
Posted - 25 May 2012 : 00:13:26
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Hi Viki,
Are there different rules for when living abroad? If you're in this country its normally the county court where you've spent the majority of the last 6 months residency. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 25 May 2012 : 00:32:37
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Yes different rules. It will be the High Court
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 |
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year 2029
Average Member
590 Posts |
Posted - 25 May 2012 : 00:38:07
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| Thats good, that'll help Ali. |
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Ali.40
Starting Member
5 Posts |
Posted - 25 May 2012 : 15:01:28
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Hi Viki ,
Are you saying that because I have not live in UK six months prior to applying for bankruptcy , I have to apply through high court ?
Tx
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 25 May 2012 : 15:08:40
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Yes, if you live outside of the UK then it has to be done through the High Court. You can either come back and do it yourself or appoint a family member or solicitor as a power of attorney and they can do it for you or you could use a BR company. Either way it is more expensive than normal BR if you live in this country.
Follow through
Make your dreams come true
Don't give up the fight
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I sold a business with huge losses back in 2009.
