Ok. I'm living in the UK.
I'm single with no dependants - live in rental accommodation. And have a well paying job - but it on a contract basis. I have no other assets. Its basically just me with a lump of outrstanding debt owed to bank (c. €400k after the forced sale of properties)
I have sold all my properties and all i have is a lump of debt. I have finished negotiations with my bank re the shortfall and they have come up with a payment plan i cannot afford. (You can just take my word on that aspect rather me having to give out details)
I have signed the agreement for now to buy myself a bit of time to consider my options as the first year is inexpensive as it is interest-only.
If i fail top fulfill this repayment plan then the bank will go down the legal route. I feel this is inevitable at some point in the future.
I cant go bankrupt as a bad credit rating drastically effects my employment prospects.
Basically my query is - how easy is it for me to just basically go into hiding forever? I don't see myself returning back to Ireland anytime soon if ever.
What details of mine does a bank require to put a judgement or enforce bankruptcy? i.e. In practice what happens? They have my name, my current rental address and an email. How easy is it for them to track me down ? Where do they even start?
I'm asking is going into hiding a viable option?
Additionally - I am a company director of which i am sole shareholder - not sure how much info they can glean from that online to track me down?
Tthey could have an incentive to make me bankrupt as obviously any shareholdings i have upon bankruptcy are realised and given to creditors.
I'm single with no dependants - live in rental accommodation. And have a well paying job - but it on a contract basis. I have no other assets. Its basically just me with a lump of outrstanding debt owed to bank (c. €400k after the forced sale of properties)
I have sold all my properties and all i have is a lump of debt. I have finished negotiations with my bank re the shortfall and they have come up with a payment plan i cannot afford. (You can just take my word on that aspect rather me having to give out details)
I have signed the agreement for now to buy myself a bit of time to consider my options as the first year is inexpensive as it is interest-only.
If i fail top fulfill this repayment plan then the bank will go down the legal route. I feel this is inevitable at some point in the future.
I cant go bankrupt as a bad credit rating drastically effects my employment prospects.
Basically my query is - how easy is it for me to just basically go into hiding forever? I don't see myself returning back to Ireland anytime soon if ever.
What details of mine does a bank require to put a judgement or enforce bankruptcy? i.e. In practice what happens? They have my name, my current rental address and an email. How easy is it for them to track me down ? Where do they even start?
I'm asking is going into hiding a viable option?
Additionally - I am a company director of which i am sole shareholder - not sure how much info they can glean from that online to track me down?
Tthey could have an incentive to make me bankrupt as obviously any shareholdings i have upon bankruptcy are realised and given to creditors.
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