Bankruptcy from abroad

gonebellyup

We need to file for bankruptcy from outside the UK so will have to pay for a company or solicitor to represent us. We are planning to use 'Bankruptcy from Abroad' but have also looked at 'My Vesta' and 'Bankruptcy Advisory Service'. Has anyone used one of these companies or know of them? I can't find any recommendations and need a bit of reassurance that I am choosing a decent firm.

I probably don't need to tell you all how scary all this is and my anxiety levels are sky high!

Can anyone help please?

skylight

I would question if you really need to go BR if you are outside the UK.

Most UK companies cannot chase you legally outside the UK anyway, so unless its directly affecting you and your new life overseas then is it worth the money? Its going to cost a lot more to get help from someone like My Vista so it may be more worth your while holding out and going BR when/if you return to the UK.

(Obviously not knowing your ambitions/goals/intentions etc, just assuming!)

fiveyearplan

I agree with skylight - what benefit would it have for you to go BR unless you are planning on moving back hare within the next few years? What are your debts made of (ie credit cards/loans/mortgage) and what country are you in?

helou_2

That's tehcnically true, but there's a common practice of selling the debts on to companies in the debtor's locale. Which is a major issue if you own property or have assets there.

Its never worth just ignoring debt imho.

gonebellyup

Thanks guys for responding

We are in Australia and have kept up the reduced payments since we've been here but there is no end in sight. Debts are all unsecured credit cards, overdraft and a loan. It's our mess and I want to draw a line under it all and take back a little bit of control or just my peace of mind.

Can't afford to hop on a plane to do it ourselves so trying the check out the companies we might use.

Thanks again - I have spent the best part of two days on this site trying to absorb all the invaluable information. I'm still scared but not feeling quite so alone.

gettingoutofdebt

It's best to get your debts sorted and declare BR if that is the only way. Companies such as MyVesta or RevivaUK will be able to do this for you but you will need to transfer the power of attorney to them in order that they can represent you in court. I believe that this can take several months so it isn't a quick process. It will also be quite expensive as I know that these companies will charge around £1200 to complete the forms and accompany you to the court so it will probably cost more if you want to transfer the power of attorney to them as this may involve solicitors. This amount doesn't cover the bankruptcy fee either.

Give the companies a call and see what they say but the easiest/cheapest method may be to get a flight over to London and petitiion at the RCOJ. You only need to turn up on the day and it is all over in a few hours. The fee at the RCOJ is £522 and you only need one copy of the SOA.

Good luck

gonebellyup

Many Thanks

Gettingoutogdebt - the companies I have contacted haven't indicated the power of attorney thing is an issue time wise so I will check that out, thank you. You are so right about it being expensive to use a company, £1500 for both of us plus court fees. I will think about coming over myself but not sure if I could represent my husband as well and price of flights from here are steep, and I'd need unpaid time off work so probably a no win situation either way.

I still think I need to get it sorted but it's looking more and more complicated and/or expensive.