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timbo62
Starting Member
7 Posts |
 Posted - 24 August 2009 : 06:40:47
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| I am curently living in NZ an dwe are having trouble repaying some debt in the UK. If we declared ourselves bankrupt will this affect us financaly over here. we have had conflicting information and are desperate to get this problem resolved |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 24 August 2009 : 06:48:11
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Hi,
How long have you been in New Zealand? If you have been there over three years you won't be able to declare bankruptcy over here. If it's less than three years, you can either come back yourself to do it, or appoint a power of attorney to petition for you.
I don't think that it will affect your rating in NZ, but not sure.
One of the experts can advise on that.
The glimmer gets brighter all the time
Jan
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timbo62
Starting Member
7 Posts |
Posted - 24 August 2009 : 07:54:56
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Hi Jan thanks for getting back. we have been out here for 19 months now. we have been told it could affect us when we apply for a morgage and we just want to clarify this.
Cheers. |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 24 August 2009 : 08:43:10
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Hi
if you declare Br while abroad you need to advise the OR of the following in NZ
1. All your assets ( house, car etc )
2. If the car is financed then the OR would need to write to the finance company ( as in the UK ) to confirm they are not interested in the asset
3. If you have a mortgage then they will want to confirm the equity position and arrange for you to buy the Beneficial Interets back
4. If you rent they may write to the landlord to confirm rent etc - better to provide a copy of your rental agreement upfront.
They don't write to employers, banks, credit reference agencies etc so theoretically the folk in NZ wouldn't know about UK activities.
If you are going to buy a house where is the deposit coming from or is this a hypothetical question for the future.
You need to conclude this before you have been abroad for 3 years and can either come back to the UK and do it in person or elect for a friend / family memeber or professional company to represent you through the process using a Lasting Power of Attorney.
Costs
Court ( High Court in London ( £522
Lasting Power of Attorney £150 to register
hope this helps
Paul
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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timbo62
Starting Member
7 Posts |
Posted - 24 August 2009 : 09:23:36
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Hi Paul, thanks for getting back. You have given us the answers we have been trying to get for a few weeks now. Really helpfull, thanks.
Tim |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 24 August 2009 : 09:47:39
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No problem
going Br while abroad has its own set of challenges with exchange rates, timezones and local impact
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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I am curently living in NZ
