Jump to content

Returning to UK, Debt in Spain

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 3983 days.

If you need to add something to this thread then


Please click the "Report " link


at the bottom of one of the posts.


If you want to post a new story then


Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 



Recommended Posts

Hi all,


My Spanish partner and I bought a house in Spain four years ago. He lost his job at the beginning of the year and obviously financially things got very difficult. We missed three mortgage payments and therefore the repossession order began.


We have tried to negotiate with the bank all this year but they would not renegotiate any deal with us, demanding we paid the three payments plus interest instantly. As this amount stood at €5000 approx, we were not in a position to do so.


Today we went to Court to collect some papers and the mortgage company is demanding full repayment of the loan plus interest - which currently stands at a total amount of €312000. We have been advised to approach a lawyer to see whether there is any way at all we can negotiate the situation; otherwise we have 10 days before handing the keys back to the house.


We understand that the house will then be set for auction by the mortgage lender, and the amount outstanding between what it sells for and what we owe will be due to be paid by us.


I was intending to move back to England at the end of this year, but with the present situation I am wondering whether that is advisable.


In Spain, a set amount will be taken out of my payslip each month and I will be left with enough basically to eat. I currently rent in a different city as that is where my work is based, and once the repossession has taken place I won't be able to afford the rental, nor the commute costs should I stay with a family member.


My question is the following: if I were to return to the UK, what position would I be in if I were to declare bankruptcy? I have debts in the UK (approx. £2000).


I am not asking anyone to judge me - I am disgusted with myself that I am in this position but I would greatly appreciate any advice anyone can offer as to whether it would be more beneficial in the long run for me to return to England and initiate a bankruptcy proceeding there.


Many thanks in advance.

Link to post
Share on other sites

Neither CAG nor it's members are here to judge you, I'm afraid it's a fact of life that people get into financial difficulties & not necessarily by their own making especially nowadays with the state of the world economy as it is.


There is nothing to stop you from returning to the UK and starting bankruptcy proceedings here... in fact it may be easier than if you were to do it in Spain but it will cost in the region of £750 each if you were both to do it. Have a read of http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/Bankruptcy/DG_187323 which gives a basic guide and provides links to free sources of information. With you being in an EU country there are reciprocal agreements in place so you would need to speak to someone who is familiar with these cross border debt problems.

Anthrax alert at debt collectors caused by box of doughnuts


Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.


Vir prudens non contra ventum mingit



17 Port & Maritime Regiment RCT

Link to post
Share on other sites


  • Recently Browsing   0 Caggers

    No registered users viewing this page.

  • Have we helped you ...?

  • Create New...