Hi, I'm a non-UK resident (living in France) and have a UK bank unsecured professional study loan (I thought non-UK resident could not have such a loan? but that is the case). If worse comes to worse, how can I declare myself banckrupt (to whom?)? What will be the consequences for me (in the UK and abroad)?
If you live outside of the UK and within the EU then you will need to declare yourself BR in that country i.e. France. The only way around this will be to try to convince the court that your 'main centre of interest' is in the UK. If the loan has a registered address within the UK and you make payments from a UK bank account then this may mean that your centre of interest would be considered the UK however you should contact the court that is local to the UK address registered with the loan to see if they would allow you to petition for BR at their court.
If this is a Student Loan from the SLC then you will not be able to include this in any bankruptcy petition.
Are you sure that BR is the best way out of your situation? Would an IVA be an option? There is more information about the options available at http://www.insolvencyhelpline.co.uk/.
You should also discuss your situation with either an Insolvency Practitioner, the Insolvency Helpline or the CCCS as the judge will want to make sure that you have explored all of the options rather than just going for BR.
You may also be able to arrange Lasting Power of Attorney with a company like Paul Johns from Revivauk (one of the experts) They specialise in Organising BR for people who are out of the UK. LPA is arranged and then they go to The High Court on your behalf , then you are bankrupt. If your loan is a "professional studies loan" then i don't think it is classed as a "student loan" so BR should clear it. If you can declare BR in the UK it may well not affect you adversely in France as credit searches are normally National not International
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) Life's too short!!!
Unsecured loan banckruptcy for non-UK resident
Posted - 20 April 2009 : 09:48:37
