dan7

Hello,
I've been reading the forums regarding bankruptcy in the UK; there are lots of questions about people thinking about doing it - unfortunately, I now need to do it. Does anyone here have any experience in doing this? Where do I start? Do I need to use a lawyer in the UK, how much etc etc.

(No judgments or flaming please - I have been servicing this debt since leaving the UK over 3 years ago and intended to carry on doing so, however due to a change in circumstances, simply can no longer afford to pay it)

Thanks
Dan

Centurion

No intention on flaming you for that one. Just a thought for you. If you simply didnt service the debt have you thought about what the consequences might be. I have no idea what your personal situation is but for most people it would pretty much mean nothing can be done to you.

In a worst case scenario you could be made bankrupt by your creditor at no cost to you by default. The irony is that you could apply to have that set aside since unfortunately you cannot apply for bankruptcy unless you are domiciled in the UK and personally present on the day the petition is presented AND have been resident for any period of time in the UK in the last 3 years before the petition is presented.

Since you have not been resident in the UK for the last 3 years and are not domiciled there you couldnt apply anyhow.

You might wish to consider the options and seek some advice. Allowing the debt to progress and not pay it may be a better choice. Alternatively you may wish to explore other options such as an IVA.

Whatever you decide best of luck.

Australia_bound?

Hi Dan

Get in touch with www.nationaldebtline.co.uk/, they'll give you a way to not go into for bankruptcy and they don't charge for their service!!!

CathnPaul

AB nationaldebtline cant help. Unfortunately Centurions post is correct. You can contact the CCCS (consumer credit counselling service) who do work with people internationally to put income and expenditures in place and can set up accounts to help the movement of monies. This is a free company and have a lot of online systems with many companies which speeds things up.

There are limitations with IVA's too as you arent in the UK, so I wouldnt hold your breath. The result of a failing IVA is Bankruptcy, but as previously mentioned you cant go through bankruptcy due to your situation.

jad n rich

Unfortunate indeed

Does the DIMA read these threads

dan7

Thanks all for your input. Thank you Centurion, you answered a question that's been niggling me for a while. I've decided to contact the creditor, if there's no joy, I'll speak to a lawyer over there and see what can be done.

LittleHobo

i know it is an old post but i just wanted to add the forums at www.fool.co.uk are fantastic for advice.

jules29

why should it interest DIMIA?

thebears

Hope things worked out for you Dan

ian27

Hey Dan, what happened with your problem?

Pollyana

This thread is from October 2006, and the original poster hasn't been online since then, so I am closing the thread as I see no point in it being resurrected now.
If anyone is looking for info on UK bankruptcy I suggest they start a new thread.