How tough is the bankruptcy OR first interview and the whole process?

Muttipops

Hi, I live in the UK, but am from another EU country. I have a job here and have done for 2+ years. I am towards the end of setting up a sort of IVA in my home country where all my debts are, through my solicitor, but the rules are that all creditors must agree to the IVA and it looks like not all will.
My debts are 120k Euros, mostly from the mortgage company who reposessed my flat and auctioned it off for very low price, long story!!


So, I may have to go bankrupt in the UK and what i would like to know is this; is the process a total torture or do they work with you?
I have been trying to deal with debt in my home country and there they treat you as if you are the worst kind of criminal, whereas I genuinely was a victim of the economic downturn and unemployment.
I really want to try and make amends and pay my debts, but my spare income is about £200 a month as I am on a low wage, and so I can't see how I can do this.
UK debt charities can only seem to help if you have UK debts, so I am turning to here to get some wisdom from those who have been made bankrupt, as the thought of going to court frightens me.

dancingfairy

Hi, generally people find the thought of it a lot worse than the actual reality.
I'm not sure how it works though for debts incurred outside the UK. It would be worth trying national debtline or stepchange who should be able to point you in the right direction.
If it is indeed possible it may involve more paperwork and perhaps a more thorough investigation into your circumstances but I would have thought you still should be treated with courtesy and respect and not treated like a criminal.
Give national debtline a call and take it from there.
Good luck
Df

Muttipops

Interestingly, neither Step Change nor National Debtline will help if your debts are outside the UK. From what i gather, it is totally OK to apply for bankruptcy here in the UK in these circumstances as long as your centre of interest is in the UK.
In my country, the process of bankruptcy and debt restructuring is a nightmare, where you are treated like a criminal, your post is opened by the trustee appointed to you and it is a process designed to humiliate and belittle you.


Hence my question about UK officials, and your kind reply is very reassuring, so a big thankyou to you.