Need advice
#1
Just Joined
Thread Starter
Joined: Jul 2010
Posts: 2
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.
I really need somesound advice.
#2
Joined: Mar 2007
Posts: 10,551
Re: 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.
I really need somesound advice.
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.
#3
Re: 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.
I really need somesound advice.
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.
#4
Re: 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.
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
#5
Just Joined
Thread Starter
Joined: Jul 2010
Posts: 2
Re: Need 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
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
#6
Re: Need advice
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
x