Hi
I was wondering if someone could answer a very specific question?
I moved from the Republic of Ireland to Northern Ireland about 7 months ago. I don’t have an issue with COMI/residency, etc. All my debts are based in the Republic and I am considering going bankrupt in Northern Ireland.
The only concern I have is that secured debts are not included in bankruptcy. Therefore, mortgages/properties are not included as they are secure. I have two properties in joint names with me and my ex (who’s disappeared).
If I go bankrupt in Northern Ireland and the OA takes over my assets (inc. interests in properties) can the bank come after me (under UK or Irish law) for any shortfall in the mortgage?
I have been looking over various threads with regard to this but there’s so much conflicting views I’m getting confused. I estimate that if the properties are sold there may be about €300k shortfall and I’m worried the bank can chase me for it after I declare bankruptcy.
I was wondering if someone could answer a very specific question?
I moved from the Republic of Ireland to Northern Ireland about 7 months ago. I don’t have an issue with COMI/residency, etc. All my debts are based in the Republic and I am considering going bankrupt in Northern Ireland.
The only concern I have is that secured debts are not included in bankruptcy. Therefore, mortgages/properties are not included as they are secure. I have two properties in joint names with me and my ex (who’s disappeared).
If I go bankrupt in Northern Ireland and the OA takes over my assets (inc. interests in properties) can the bank come after me (under UK or Irish law) for any shortfall in the mortgage?
I have been looking over various threads with regard to this but there’s so much conflicting views I’m getting confused. I estimate that if the properties are sold there may be about €300k shortfall and I’m worried the bank can chase me for it after I declare bankruptcy.