Bankruptcy in UK from South Africa - Help Please

vpaladin

Hi
Has anyone had experience in declaring bankruptcy in the UK from South Africa or a similar country? I am looking into this as an option as I am struggling to keep on top of my credit card debt (GBP 20,000) with the weak Rand and low income compared to what I was earning in the UK years ago.

Does anyone have any advice or a story to share about a similar situation as I am terrified of the consequences of bankruptcy and find the whole process a big black hole - I have no idea what to expect out here.


Thank you for your help in advance!
Regards,
Chris.

Johno100

What nationality are you and when did you last reside in the UK?

vpaladin

Hi
I have dual South African/EU (not UK) citizenship and left the UK in 2010 due to a bereavement in SA and have had to stay since due to family commitments.
I've returned to the UK a couple of times since for a 3 week holiday - last time was April 2015.
Thanks,
Chris.

Johno100

Then it is going to be extremely difficult for you to declare yourself bankrupt in England or Wales.

There are some restrictions that may prevent European or foreign nationals from declaring in the UK. You can’t petition to the court in England or Wales without first meeting the following criteria:!

- Have been a permanent resident or run a business in the UK within the last three years;!
- Have a primary stakehold in the UK – as the centre of business transactions or the location of most of your creditors;
- Show evidence of ‘economic activity’ in Britain including employment, a source of income, a bank account, a national insurance number and/or rent or mortgage bills.!

https://www.graydon.co.uk/blog/bankruptcy-tourism--can-and-should-you-declare-in-the-uk-

vpaladin

Thanks for your reply. Any idea what options I have? I thought I could petition for bankruptcy after 3 years but had to do it in person in the UK. Strange to be penalised when I am trying to meet my debt repayments.


Thanks for your feedback.


Anyone else have a similar experience?

antrobus

vpaladin wrote: »

Thanks for your reply. Any idea what options I have? I thought I could petition for bankruptcy after 3 years but had to do it in person in the UK. Strange to be penalised when I am trying to meet my debt repayments.....

I suspect that your main option would be to petition for bankruptcy in South Africa. It appears that South Africa have signed up to the UN model law on cross-border insolvency, so any UK creditor may well be obliged to accept that.

http://www.uncitral.org/uncitral/en/uncitral_texts/insolvency/1997Model_status.html

Or you could just try and reach a settlement with the UK credit card.

michael_p

Hi

As long as your last address was within England or Wales you can still file bankruptcy while living in SA. If you are over the 3 year rule then you would need to spend a few days back in the UK and appear in the High Court of London in person to present the petition. If you lived in Scotland or Northern Ireland as the last address before moving to SA then you would have to deal with a different Court due to jurisdiction.

I hope this helps but bear in mind that both assets and income are looked at when filing bankruptcy in the UK and this includes assets and income on a worldwide basis.