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shane.mc
Starting Member
7 Posts |
 Posted - 04 January 2010 : 20:01:05
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Hi,
I was resident in the UK but left in May 2006. I owned an off-licence in the UK which I closed in May 2008. I own a property in the UK with £10,000 negative equity. One of my creditors from the off-licence got a bankruptcy order against me a the start of December 2009. The insolvency office traced me down and I when to the UK to collect the PIQB booklet that I am now filling it to return to them. I have unsecured debts of £100,000 and a secured debt of £100,000 in the UK. Only the secured debt has been serviced since May 2008.
I now own two properties abroad, one jointedly owed with 20,000 equity. Neither were paid for with credit from the UK. My total income is €6,000 per month and I calculate I pay out €5,500 per month. My overseas current account has just €500 in it at the minute.
Will they accept the bankruptcy in the UK although I haven’t been living there in over 3 years?
I want to hand back the UK property.
Will they go after my overseas car and property?
Will they write to the overseas banks to say I am bankrupt? None of these banks are creditors of mine in the UK?
Will they except an income payment agreement from abroad?
What in your experience is the likely outcome?
Thanks. |
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debtinfo
forum expert
2826 Posts |
Posted - 04 January 2010 : 20:07:25
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| Hi, what country are you living in, they may go after the property you have abroad, they will expect an IPA, what success they will have depends on how much there is to gain, where you live and how hard they push |
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shane.mc
Starting Member
7 Posts |
Posted - 05 January 2010 : 08:50:34
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I am now living in the republic of Ireland
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 05 January 2010 : 09:57:15
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If you live in the EU they are highly likely to pursue your assets in ROI because there are reciprocal arrangements within EU member states.
They are likely to appoint a local insolvency professional to pursue assets locally.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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shane.mc
Starting Member
7 Posts |
Posted - 23 March 2010 : 22:19:35
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Hi,
I had my phone interview with the insolvency administrator. I have a BTL property abroad and they want to get an agent to collect the rent from it. They are going to write to the tenants. If so I wouldnt be able to pay the mortgage on it. How can I protect against this or I'll end up in arrears and more debt? How long can they collect the rent from this property? Is it just the duration of the bankrupty?
They said I can hand back the keys of the BTL property in the UK! They are interested in the part of the equity in my home abroad and getting a team to look into this although he said they cant do valuations abroad.
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Hi,I was resident in the UK but left in May 2006
