A mess!!

Jason_Latham

Hi, I used to be a mortgage broker...boo hiss i hear you all say!.

A long story shortened. I have got sick of the mess I have gotten in having not worked since last September. I moved to Spain to family in July and, maybe stupidly, informed all of my creditors of my Spanish address. I currently do not work, not for the want of trying, both in England or in Spain.

Some have gone to Debt collectors who i have informed of my situation. Some are still sending me threatening letters.

I have just had one from Weightmans LLP on behalf of HFC and are hinting at making me a Bankrupt over approx £900. I have no assets. The house i lived in is going through repossession. I do own 2 other flats but are both in negative equity and they just about neutral cost. I havent told Weightmans about these though i am sure they will find out.

They are also asking me about my partner- are my debts anything to do with my girlfriend?? the only thing joint that we have is a bank account! I have to say though i have not given any of her details to them thus far as I can easily come from that account.

The question really is whether they are likely to make me bankrupt and what can they do to my girlfriend?

Any help much appreciated

iquit

Hi Jason, no booing or hissing from me! Have you approached the debt charities for advice e.g national debtline & CAB? You can also visit the insolvency website - probably easier as you are abroad. I'm not an expert but from what I've read here if you wait to be made bankrupt it can take a long time. Do not give your girlfriends details as the debt is only in your name and therefore she can't be held liable. The joint account is what probably how they made the link/ financial association. Unscrupulous tactics are not unheard of when debt is being chased (disclaimer note:from what I've heard). Good luck.

Charco_2

they can do NOTHING to your girlfriend!

If she is not on the debts then she has nothing to do with them. If she was named on the loan then that would be a different matter, but i'd reckon any mention of your girlfriend is a red herring probably designed to scare you into making a paltry contribution to your creditors.

It really is worth your while ringing up a professional company and finding out your options.

Although your properties (which they will definitely find out about) may be in negative equity and just about washing their own faces financially the could form a sticky wicket and the sooner you deal with the whole of your debt the better, the longer you leave it the less options you have because things will only get worse unattended.

It may be that your best option already is bankruptcy but you can speak to someone who will be able to tell you this for free while also letting you know other options if any are available. It's worth remembering that you have tenants in the properties who will also be affected by your situation.

PS - Boooo Hisssss ha ha :rotfl:

Jason_Latham

Thanks all.

It seems that each lender has different approaches. The debt collection agencies seem to not be bothered when they find out that I have moved to Spain.

One has offered me a drastic settlement which i may well get with family help.

It seems that the smallest debt is the most dramatic at suggesting bankrupcy! At this stage it seems that an offer of some sort of small monthly payment may be the way forward, but with them all, the small amounts become a massive problem again.

I am guessin that with me still owning properties I would have to dispose of as part of any bankrupcy?

The alternative being an IVA? but would I be able to do any of this now that I am resident in Spain? And would the CCCS still help for the same reasons?