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Leo
Junior Member
United Kingdom
173 Posts |
 Posted - 14 March 2008 : 14:18:51
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Hi There,
I am living abroad in a Non EC country for last few years where the cost of living is a third of the UK ! I worked for a British firm from 1999 until 2004 and this invloved working abroad and also in the UK, I left and then travelled for 2 years and now been working for 1 year- but for a non british company. I managed to pay off my debts throughout all this time but now circumstances have changed and cannot pay UK debts. I am a British Citizen and when working for the UK company consolidated and now Im working for a non british company I cannot pay off these debts I have in the UK. Can I declare myself bankrupt in the UK ? |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 14 March 2008 : 15:13:21
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Hi Leo
yes you can declare yourself Br.
perhaps you can give us some more details about how much debt are you in and what is your monthly disposable income. This would help us give you an idea of wether you would get an Income Payment Agreement in bakruptcy.
an IOA is where yuou would pay back a % of your disposable income for 3 years as a contribution to your debts and costs of Br.
You would also need to petition in person at the High Court in London or appoint a representative to do so for you. Depending upon where you live you may find that it is cheaper to appoint ( and less stressful ) rather than fly back and do it yourself.
look forward to your reply
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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Leo
Junior Member
United Kingdom
173 Posts |
Posted - 14 March 2008 : 15:19:50
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Dear Paul,
Thank you for your reply and information. I have nearly 18k of debt - and because I live and now work in non EC country my disposable income is about 10 pounds a month !! I have bought a ticket and plan to get myself and all forms and fee to court at the Strand on Thursday 20th March. How long do you think the whole process will take and what can I expect.. ? Is it normal to be so nervous ?? |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 14 March 2008 : 16:17:33
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Hi Leo
if you have 10 disposable each month after allowable expenses then you would not be given an income payment agreement.
I would suggest taking a copy of the Statement of Affairs as this will be helpful when you see the official receiver.
The procedure at the Strand.
go through security
turn right and go to the cash office where you will pay your court fee and get your docs stamped to confirm that you have paid.
you then take the documents to the bankruptcy clerk ( 7 minute walk through the building !!!) and they review the documents and make sure you have got them right.
then they send you away for a couple of hours while they get signed off.
After you collect the documents you go and see the official receiver for an interview ( about a 15 minute walk - they give you a map). This lasts about an hour
then you are done
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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Leo
Junior Member
United Kingdom
173 Posts |
Posted - 15 March 2008 : 08:18:09
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Dear Paul,
Thank you for the Information. Could you tell me is the Statement of affairs an official document - or something that I write myself. ??
You have been a great help. I will definately be writing again after my Br on Thursday.
Look forward to your reply.
Leo |
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Carl McMullen
Junior Member
192 Posts |
Posted - 15 March 2008 : 09:24:00
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A statement of affairs is basically a list of all your assets and copy of your income and expenditure.
You can complete the forms online using the link below
https://www.insolvencydirect.gov.uk/isolv/
Dont forget to include in your income and expenditure things like, clothing, personal hygiene, travel costs etc etc then review it all to make sure you have not missed anything off.
Good luck and keep us posted |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 15 March 2008 : 10:53:48
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Hi Leo
Just a thought - if you are in the UK earlier you can go to the high court the day before and pay the fee etc. This way you won't be stressed waiting in line in the casheers office.
you can also take a look at whee the bankruptcy clerk is so on the day you know where you are going and al will be fine.
good luck.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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Leo
Junior Member
United Kingdom
173 Posts |
Posted - 17 March 2008 : 09:37:17
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Hi Paul, So I can go the Day before and pay my fees and get the petition stamped - then do I keep this with me until I go to the Bankruptcy clerk first thing in the morning ? I am so nervous. Can I really expect it all to be over within one day ?
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 17 March 2008 : 14:57:13
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Hi Leo
The choice is yours but if you want to get it sorted in 1 day rather than 2 you can go to the cash office get the statement of affairs stamped and then go straight to the bankruptcy clerk.
Go and have a coffee while you are waiting then go back, collect the documents and go to see the Official receiver - they give you a map so it is only 15 mins walk.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 17 March 2008 : 16:08:37
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Hi Leo,
Just to wish you luck on the 20th and hope it goes smoothly for you.
It is ok to be nervous everyone is and those that say they are not are lying.
All the best
View my Blogs at:
http://HelpfulAdvice.blogs.bankruptcyhelp.org.uk/
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
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Topic |
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Living abraod but UK Citizen needs to Declare Bank
