bankrupcy advice needed

lynzpower

I believe a DMP would be better too.

The other thing to note is that there are lots of things that you can do to bring your debtr free date closer on a DMP, for example if you sell things ( which I guess youd be doing at some point to move to Oz) then any amount of money you can give them will be spread between your creditors.

Also your salary is low, in time you may well get another job that pays more, which you would up your DMP contribution and the lengrth of the DMP would get shorter.

IM very surprised that cccs has recommended bankrupcy.

Does your partner work? Your SOA isnt complete BTW, you need to look at martins budget planner at the top of th epage & go from there?

Lynz

Dolly_Smith

I'm fairly sure that when my friend went to Australia she had to prove she had a certain amount of funds - I know you say you don't plan to come back but the Aussies may think differently if you go bankrupt. I really would check this out before you commit to anything

thefoolonthehill

guys

thanks to everyone who has given me some advice on this subject. I am definately going to go down the dmp route.

My other half is a teacher who is currently paying a huge chunk off her student debt and other debts she has accumulated. She has though said she will help out when she has cleared her debt.

I have just started the ball rolling with re claiming bank charges as well, so hopefully i can get these back and pay them straight off the dmp.

I am pretty sure it will be quite a substantial amount as i cant remeber the last time I was not charged at least £60. I estimate they have taken around £800 from me.

One question though if i got this money back would it go straight to Nationwide who had charged me or would it be distributed between all my creditors

Wonder_Girl

thefoolonthehill wrote:

guys

thanks to everyone who has given me some advice on this subject. I am definately going to go down the dmp route.

My other half is a teacher who is currently paying a huge chunk off her student debt and other debts she has accumulated. She has though said she will help out when she has cleared her debt.

I have just started the ball rolling with re claiming bank charges as well, so hopefully i can get these back and pay them straight off the dmp.

I am pretty sure it will be quite a substantial amount as i cant remeber the last time I was not charged at least £60. I estimate they have taken around £800 from me.

One question though if i got this money back would it go straight to Nationwide who had charged me or would it be distributed between all my creditors

Any lump sum paid into your DMP will be distributed amongst ALL your creditors.

If however you want to pay of one or two smaller debts in FULL then you will be allowed to pay this direct to these creditors.

Storm

I would strongly advise against bankruptcy if you're intending to move abroad permanently as you're unlikely to receive leave to remain or permanent residency without being able to prove you can support yourself (and actually paying off debts is a very good way to prove this!) You will need some kind of financial cushion before you move to Australia (I think they insist that you can afford to get home again) and as you no doubt have family & friends over here you'd want to be able to get back quickly in an emergency anyway.

Good luck with the bank charges - if you can knock a substantial amount of the debt straightaway that will help enormously. Otherwise as Lynzpower said, try selling some stuff on Ebay/Amazon/at car boot etc to raise a bit of extra cash, perhaps look for extra work etc and paying off some lumps of these debts.

rog2

Also, if you are in a DMP, you can still continue it from Australia.

thefoolonthehill

big thank you to everyone who has advised me on this issue.

intreast

i ran up 120.000 on debt and loved it i paided them all back with sett figures // hsbc 22000 pounds sett 8.000 pounds natwest 13000 pounds sett 6000 pounds abbet 7000 sett 3000 pounds tesco visa 8000 pounds sett 4000 pounds the thing i paided then all back with there money made a round 60 .000 pounds profit not bad for a french man

intreast

in france now the ything i am getting cr over here no problems as the cr ref agencies do not check from one country to another so if u ran up debts in the uk they dont check in another country. all my debts are sett now the banks well do any thing to help u when u o so much money . the more u o on loans and cr cards the more they write off

intreast

rog2 wrote: »

Difficult one - In the overall scheme of things, £15k is not that much of a debt and certainly if that is the total level of your debt, it would be well worth considering other options rather than bankruptcy I see that CCCS gave you both options - which did they reccomend?
I think that your Bankruptcy details, if that is the way you decide to go, would be available to any Australian Bank, or Mortgage Lender, as they would probably do a UK credit search based on the short time that you had been in oz - equally any credit search would also reveal any defaults or CCJ's on unpaid debts.
I would, personally, be inclined to err towards bankruptcy, but why not post a full SOA and let's see what others suggest.

wrong i ran up 12000.00 of debt sett for less then half paided back around 50.000 in total as full and final then went to france in paris now and got visa and a loan they dont check of shore a friend of mine moved to dublin roi he dad 80.000 of debts in the uk he got mastercard and loan in euros even in the roi they dont check uk records as its a diffrent country