The Practicalities of Bankruptcy from Overseas

[canuck_bc]

Hey everyone! I'm new to the forum and hope you can advise me!

 

I moved to Canada 2 years ago and despite every effort to reduce my UK debt, spiralling interest rates and ever-changing minimum payment requirements from credit cards put paid to that!

 

I'm now applying for bankruptcy back in England under their 'so long as you lived here in the last 3 years' provision.

 

Has anyone else from Canada ever done this? I'm keen to know if the Official Receiver follows up on your accounts etc in Canada as well as England and if so what are the practicalities of it all?

 

My bank account is joint and my partner is not declaring bankruptcy - is it easy to lift any freeze put on the account when it is required to pay all of your living expenses?

 

Also do they take into account your spouse's/partner's earnings when determining what you can afford to pay your creditors?

 

I have so many questions!! I'm using an assistance company called MyVesta UK to represent me to save me having to go back to the UK - anybody had any experience of them?

 

Thanks guys! Hope to get some feedback from you.

 

Canuck_BC

[phat256]

hi canuck i can't advised much on your situation i am an undischarged BR but living in the UK

 

I'm now applying for bankruptcy back in England under their 'so long as you lived here in the last 3 years' provision.

u will still have to comply with every request from your OR and to not do so well u will be in big trouble !

Has anyone else from Canada ever done this? I'm keen to know if the Official Receiver follows up on your accounts etc in Canada as well as England and if so what are the practicalities of it all?

 

up to the point of BR u will loose any assset including bank account credit card etc...... the Or will request from you cheque, card, bank statement, loan agreement etc ....

 

My bank account is joint and my partner is not declaring bankruptcy - is it easy to lift any freeze put on the account when it is required to pay all of your living expenses?

 

it will be better fro the both of that you open each an account else where at your name only . as once you are BR your account will be frozen and three is very little u can do about it. it is the not the OR who freeze the account but the Bank itself. you must also be aware that all of your previous bank account joint or not before your BR order belong to the OR and not you . Once your are Br u will need to open a Bank account there are two Bank in the UK taking on undischarged BR the Co-op and Barclays whcih offer no thrill bank account.

 

Also do they take into account your spouse's/partner's earnings when determining what you can afford to pay your creditors?

 

Your OR will ask you to fill an Icome and expedniture questionnaire and if you have any surplus over 99 pounds then you will be expected to contribute towards your BR estate for up to 3 years. It is called an Income Payment Agreement / Order . the amount can vary if your situation change. the Or will take into account how much your partner contribute towards the bilsl etcc if he/she does. Make your are maximising your expesnes as unlike a DMP you are trying to reduce the amount of your IPA if applicable.

 

I have so many questions!! I'm using an assistance company called MyVesta UK to represent me to save me having to go back to the UK - anybody had any experience of them?

 

Stay well clear of company that charge you. at the end of the day u will still have to do the work yourself a ie: to apply yourself to go BR at the court ( no one else coudl do it for you a part from your creditor )/ you will still have to do yourselve the interview with the OR . and if your stuck with your statement of affairs there will always be people to help you on this forums

 

Canuck_BC

 

dont forget the Or interview is usually done over the phone but i dont know much of the practicalities when living abroad so i can't say much for this. Good luck !

[phat256]

i found more infos for you i hope it does answer your question

 

Technical: IEL Reference Guide: FOREIGN ISSUES