Bankruptcy Shall We????

Troubled_Joe

peachyprice wrote: »

The money you have is for relocation and living expenses and should be fine as you can account for it, but you cannot pay your sister back, you will have to tell the OR you have used this for something other than that.

Are you really advocating lying to the OR? Surely that's more fraud than money saving?

Annie_Johno

well funny you should say that. Just spoke to CCCS. At present even though I have no income, but am using my savings to live and go abroad, I am not really bankrupt and I have enough money to live for say 3 months. After that 3 months (so around November time) I will be abroad, and from then on in I will not be able to pay my creditors and my cash asset will have been spent on setting up home abroad. So as the CCCS sort of said, maybe once I have no assets and cant pay my creditors I should apply to go BR then. Come back to the UK for 2 weeks and file my petition and give the OR my contact details abroad and take it from there.

Does this sound like my only option?

shadowdragon

Annie_Johno wrote: »

well funny you should say that. Just spoke to CCCS. At present even though I have no income, but am using my savings to live and go abroad, I am not really bankrupt and I have enough money to live for say 3 months. After that 3 months (so around November time) I will be abroad, and from then on in I will not be able to pay my creditors and my cash asset will have been spent on setting up home abroad. So as the CCCS sort of said, maybe once I have no assets and cant pay my creditors I should apply to go BR then. Come back to the UK for 2 weeks and file my petition and give the OR my contact details abroad and take it from there.

Does this sound like my only option?

#


Sent you a Private Message Annie.

tigerfeet2006

Sounds like an option to me.

lifesuckssometimes

Annie_Johno wrote: »

Hi all the CCCS told me to phone insolvency helpline which I did. They said whatever assets (ie my car, and the cash I currently have) will be assets in the BR, therefore I would not be able to move abroad on the 19th Aug because all the money I managed to save to go abroad will be deemed by the OR to pay off creditors. Has anybody come across this scenaria before. I have managed to save money to move abroad. I have money in bank to pay for next 2 months mortgage and loans, after that I will be broke but in a different country. still bankrupt but I cant even apply to go BR now cuz they will freeze my relocation savings. HELP

remove any cash from accounts and shares. are you relocating within the eu also if you are 100% sure of moving abroad and BR stop paying for mortgage and loans

Annie_Johno

cash has been removed, no shares. Handing house back before we go, very little equity in it. Might get some. Country is non EU

Annie_Johno

sorry meant to say, still unsure about going BR though.

Once house handed back, will cancel mortgage payment, but was going to continue paying my 2 loans for 3 months even after I have gone.

lifesuckssometimes

Annie_Johno wrote: »

sorry meant to say, still unsure about going BR though.

Once house handed back, will cancel mortgage payment, but was going to continue paying my 2 loans for 3 months even after I have gone.

Why pay any more back.. KEEP IT also i find i am careless with money tend to lose it. Also do you intend to return back to uk..
also do you have a partner any joint debts...

Annie_Johno

No are not planning to come back to UK only to visit relatives maybe once or twice each year.

tigerfeet2006

Sorry off thread but I have to say, Lifesucks your avatar is freaking me out :eek: