Greetings. Not sure if there is an easy answer to this one but hoping someone might be able to help. Have tried contacting two debt advice services in the UK, have been given reference numbers but no returned calls as they planned.
Currently, I have some loan / credit card debts in the UK but having trouble paying due to my mortgage / debts in the USA. One uk debt has already been passed to a collection agency.
Thanks to the recent property meltdown, my home is now worth approx $75,000 less than my total debts here so can't even sell that to pay them off.
With approx $100 disposable income to support UK payments, I am considering a Bankruptcy. I am UK citizen working through the green card process at the moment so also concerned about potential implications there.
If I file, can I do so by post or do I have to present ?
If I understand it correctly you are considering going Br in the UK for UK debts. Bankruptcy would include any other asset you have in the world but would exclude the house because it is in negative equity. You would need to provide evidence of this .
You cannot present Br he by post so would need to either fly back and present in the High Court on the Strand in person or alternatively hire an Assisted Bankruptcy Company who would act on your behalf. This is done by preparing and filing a Lasting Power of Attorney which would allow someone to act on your behalf and have the power to make decisions for you in a certain matter.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK www.revivauk.com
Thank you for the advice Paul. With regards to my assets such as furniture / electricals / tools / garden equipment, would these have to be sold to pay off creditors ? If so, assume I would have to work with a US appointed company on these matters ?
Brgds
quote:Originally posted by Reviva UK
Hi Optionseeker.
If I understand it correctly you are considering going Br in the UK for UK debts. Bankruptcy would include any other asset you have in the world but would exclude the house because it is in negative equity. You would need to provide evidence of this .
You cannot present Br he by post so would need to either fly back and present in the High Court on the Strand in person or alternatively hire an Assisted Bankruptcy Company who would act on your behalf. This is done by preparing and filing a Lasting Power of Attorney which would allow someone to act on your behalf and have the power to make decisions for you in a certain matter.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK www.revivauk.com
having trouble paying mortgage / debts in the USA.
Posted - 15 November 2008 : 20:41:34
