Need advice

Old Jul 5th 2010, 5:14 pm
  #1  
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Default Need advice

Hello, I am a Curently running my own Business in Gibraltar (self employed) I am i so much debt and there is no way i can pay it off, Have thought about declaring mysel Bankcrupt but the concequences seem to daunting. I am thinking about doing a runner, what would happen to all my debts? Is there a time limit on creditors comming after me, Or is it something that will hang over me all my life. I have no assets, My debts ammount to over 30.000 K
I really need somesound advice.
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Old Jul 5th 2010, 6:03 pm
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Default Re: Need advice

Originally Posted by scgoose1
Hello, I am a Curently running my own Business in Gibraltar (self employed) I am i so much debt and there is no way i can pay it off, Have thought about declaring mysel Bankcrupt but the concequences seem to daunting. I am thinking about doing a runner, what would happen to all my debts? Is there a time limit on creditors comming after me, Or is it something that will hang over me all my life. I have no assets, My debts ammount to over 30.000 K
I really need somesound advice.
Welcome to the Forum, I cant personally help you with your debt issues or advice on dealing with it. But we have an excellent Spain Section Moving back to the UK and Europe General. Somewhere within one of these sections someone with with the right knowledge will be about.

If you should get any issues give one of the Management Team a shout, The Forum Leaders and Concierges for each Section can be found HERE

Once again welcome to the Forum, I hope you have luck in finding the right advice on dealing with your issues.

Last edited by Ka Ora!; Jul 5th 2010 at 6:07 pm.
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Old Jul 5th 2010, 6:16 pm
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Default Re: Need advice

Originally Posted by scgoose1
Hello, I am a Curently running my own Business in Gibraltar (self employed) I am i so much debt and there is no way i can pay it off, Have thought about declaring mysel Bankcrupt but the concequences seem to daunting. I am thinking about doing a runner, what would happen to all my debts? Is there a time limit on creditors comming after me, Or is it something that will hang over me all my life. I have no assets, My debts ammount to over 30.000 K
I really need somesound advice.
Hello and welcome to BE.

As this forum is purely for welcoming new members...I suggest you repost your questions in the forums Ka Ora's kindly provided in his post. You may be best to try a website that is specifically designed to help those with financial problems/questions.
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Old Jul 7th 2010, 2:30 am
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Default Re: Need advice

Originally Posted by scgoose1
Hello, I am a Curently running my own Business in Gibraltar (self employed) I am i so much debt and there is no way i can pay it off, Have thought about declaring mysel Bankcrupt but the concequences seem to daunting. I am thinking about doing a runner, what would happen to all my debts? Is there a time limit on creditors comming after me, Or is it something that will hang over me all my life. I have no assets, My debts ammount to over 30.000 K
I really need somesound advice.

Hi SCgoose

Welcome to BE.
As far as I know there is no time limit for creditors and bearing in mind that Gib is in Europe the situation may follow you.
I would not advise you to 'do a runner' as Gibraltar has similar law to the UK and this could lead to further problems for you.
My advice would be to contact a debt advisory service - there may be one in Gibraltar. If not it would be worth contacting one in the UK. If you need it I will look up the number - please let me know.

It is well worth you introducing yourself onto the Spain forum as you may find people who can give you definitive advice or people who have been in a similar situation.

My mian advice is do not do anything rash until you have sought advice.

Dread - x
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Old Jul 27th 2010, 6:27 pm
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Default Re: Need advice

Originally Posted by dreadsoc
Hi SCgoose

Welcome to BE.
As far as I know there is no time limit for creditors and bearing in mind that Gib is in Europe the situation may follow you.
I would not advise you to 'do a runner' as Gibraltar has similar law to the UK and this could lead to further problems for you.
My advice would be to contact a debt advisory service - there may be one in Gibraltar. If not it would be worth contacting one in the UK. If you need it I will look up the number - please let me know.

It is well worth you introducing yourself onto the Spain forum as you may find people who can give you definitive advice or people who have been in a similar situation.

My mian advice is do not do anything rash until you have sought advice.

Dread - x
Thxs Dread, I would apreciate if you could look up that number for me. Debt Advisory Services In UK. As i am planning to return to uk shortly, would prefer to find out my options before. Thanks Scgoose
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Old Jul 29th 2010, 9:15 pm
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Default Re: Need advice

Originally Posted by scgoose1
Thxs Dread, I would apreciate if you could look up that number for me. Debt Advisory Services In UK. As i am planning to return to uk shortly, would prefer to find out my options before. Thanks Scgoose
Hi Scgoose

I have checked up and found that this service is now linked to the Citizens Advice Bureau. Each branch now has fully qualified legal people and debt advisors ad the service is completely free. There is a C.A.B in virtually every main town so there will be one close to you in the UK.
Make you ring up beforehand and ask for a specific appointment with a debt advisor. If you just turn up you end up waiting for ages in a queue.
They actually offer a very good service on this topic, so good luck, I am sure they will be able to help you.

Regards

Dread
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