consequences of moving abroad after BR ?

humblepieeater

After months of misery and deliberation and taking advice I have realised that the only option is to go bankrupt. House in negative equity, huge mortgage with Northern Rock, several credit cards and loans and vastly reduced income for the past 12 months. Having made the decision and also having done all the sums I now realise that as I am approaching 50 the next few years are not going to be a lot of fun and in fact are going to be down right miserable.

I have been offered a job abroad, Canary Islands, not very much money but won't need a lot to live on out there. I also have family and friends out there. The question is what will the repercussions be if I move abroad more or less immediately after going bankrupt and handing the keys to the house back to Northern Rock. Will the OR pursue me out there and will I be able to return. If so what will happen on my return.

Would be very grateful for any help as this is a huge step and deciding to go bankrupt was a hard enough decision to make.

sparrabeth

Hi x Welcome xxx

Have you thought about emailing the Insolvency Service?

Will go get the link - brb

Here you go - http://www.insolvency.gov.uk/contactus/general.htm

xxx

So_Sad_Angel

Sorry post in error

peachyprice

You really need to sort out your affairs with the OR before you go, if you just do a bunk without sorting things out you will not be discharged, and if you ever come back you will still be bankrupt and will have to answer to them, with far more severe consequences due to unco-operation. You can be arrested for not co-operating with the OR.

HTH

humblepieeater

Thanks for responding Peachyprice but my fears are exactly what you pointed out. What would count as not cooperating with the OR, I need to know what I can and can't do within the law? The past year has been extremely stressful and I don't think I can continue to do the job I do under these circumstances as it is extremely target driven and relentless.

Can anyone give me practical advice as to whether it is the right thing to go BR and then leave the country and if so practically how do I do this ? From their own experience or others. Does anyone know whether in fact I would just be better going and not going BR first ? This is all alien to me, have always been honest and hardworking just like many other people on here and have got trapped with debt with no way out.

mej24

Go, BR, have the meeting with the OR, move abroad and give them your new contact details.

Surely there can't be anything wrong with that, and you've done it all the right way and above board?

maxmycardagain

can come with you?....

hola, dos cerveza grande por favor,,,,,

peachyprice

As long as you stick around for your interview and tell them you are moving that should be fine. Just be honest with them. Not co-operating with them would be walking out of court and getting on a plane, and not providing them with the info they ask for.

Once you've answered all their questions you're free to live your life as you choose. As you won't be earning enough for an IPA and you've no equity your BR will be pretty straightforward. Just make sure they know where to contact you if necessary, there won't be anything further they can pursue you for. Unless of course they find out you've bought a 6 bedroom villa in the Canaries which might seriously pi$$ them off! And in 12 months time you'll be completely free of BR with a clean slate.

Definitely sort this out before you go, once it's done you can relax and get on with the rest of your life and you'll be free to do as you please. If you leave without going BR you'll forever be looking over your shoulder wondering if anyone has caught up with you.

The whole point of BR is freeing yourself from overwhelming debt and being free to live a normal life again.

Leicestercat

Hi HPE...

Im in a similar situation as you - ie with the moving abroad for a while - maybe indefinatley though, not sure... I declared myself BR mid Feb, and am moving out to Spain in two weeks - am just writing the letter to my OR now. At least you have a job there - Ill be still looking, but just cant be here anymore, feel as if im going insane!!

Ill give my OR my forwarding address and my phone number, so if they need me they can write or call me. Im not waiting to be discharged before I go. When I get a job, Ill send them the info etc. The OR cannot prevent you from going abroad, but I would make sure you provide them with what they ask for, you dont want to move over there with anything negaitive at the back of your mind....

Hope that helps x

LC

sjane2008

If it helps I went to ustralia for 6 mths after being declared b/rupt. It was a pain as the OR man had to talk to you by phone every now and then and cost me a fortune!

rog2

mej24 wrote: »

Go, BR, have the meeting with the OR, move abroad and give them your new contact details.

Surely there can't be anything wrong with that, and you've done it all the right way and above board?

Nothing wrong with that, at all, mej.

Lc - the restrictions that will be placed on you by your UK bankruptcy will apply only in the UK. It will not preclude you from opening a bank account, indeed even applying for credit if you wish to, in the Canary Islands.

Unless you 'default' on an IPA/IPO, if one is given, then I see no reason at all why you should not be 'discharged from bankruptcy' automatically, after 12 months, or even qualify for early discharge.