Key Post Where is the best location/city to apply for bankruptcy in the UK?

Bankruptcy in Newry

Hi Steve,

I am looking for advice...I am going to be moving to Newry to declare for bankruptcy, however my wife will be living and working in Dublin and will not be moving with me, will that be a problem? She is the only one working and she is on contract. She is living in her own home, the one she bought before we were together, so her income is keeping her house from being repossessed. Therefore, I will be the only person to relocate, incidentally we dont have kids, its just the two of us.

Any info would be greatly appreciated
regards
 
prodigy81 said:
Hi Steve,

I am looking for advice...I am going to be moving to Newry to declare for bankruptcy, however my wife will be living and working in Dublin and will not be moving with me, will that be a problem? She is the only one working and she is on contract. She is living in her own home, the one she bought before we were together, so her income is keeping her house from being repossessed. Therefore, I will be the only person to relocate, incidentally we dont have kids, its just the two of us.

Any info would be greatly appreciated
regards
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I have done a number of bankruptcies involving living in Newry. The last time a client appeared (he got through) the Judge commented that Newry must be like London or New York, as soo many people wanted to move there.
She has caught on to this. if you are making the move, go to Belfast. Get a job, get a flat and submerse yourself in Belfast life.
I would not advise you to mention the wife living down south, it does not compute at all with you properly moving your COMI. The Judge always asks what connections you have with the South. You might be better "separating".

Steve Thatcher
www.helpwithdebtuk.com
 
An update on places to go. I have just got a couple through in Reading on a first hearing.
Also I got a lady through first time in Liverpool again. But these were on different circumstances to normal
I also got a lady through in London without the need for a second hearing.

I got a lady through in Belfast as well

Coming up in the next few weeks we will have clients in
Kingston Upon Thames, twice
Stoke
Belfast , 4 times
Manchester, twice

Steve Thatcher
www.helpwithdebtuk.com
 
Steve Thatcher said:
I have done a number of bankruptcies involving living in Newry. The last time a client appeared (he got through) the Judge commented that Newry must be like London or New York, as soo many people wanted to move there.
She has caught on to this. if you are making the move, go to Belfast. Get a job, get a flat and submerse yourself in Belfast life.
I would not advise you to mention the wife living down south, it does not compute at all with you properly moving your COMI. The Judge always asks what connections you have with the South. You might be better "separating".

Steve Thatcher
www.helpwithdebtuk.com
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Hi Steve,

Have you had any cases refused in NI or UK? If so, on what grounds was it refused? Are the bankruptees interrogated in the courtroom by the judge?
 
Negotiator said:
Hi Steve,

Have you had any cases refused in NI or UK? If so, on what grounds was it refused? Are the bankruptees interrogated in the courtroom by the judge?
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I have never had a bankruptcy refused.
The reason is I know what I am doing and have been around many courts and understand how they and their judges operate. Because I am in court every wek I see trends developing.
Also as a qualified solicitor of 20 years I have a certain gravitas that comes with age and experience.
I generally take the lead and try to ensure the client has as little to say as possible.
Yesterday in Kingston, we were v]before they Judge for just 2 minutes, all the client had to do after I said my piece was to confirm he would like the bankruptcy order made.
There are many people now offering to help people go bankrupt in the UK, you just need to choose wisely
 
Steve did they all go through the County Courts or were they put up to the high court? Thanks. Also if the only job you can get it in London where is good to live? I just posted on another thread asking how much approx a single man can earn without attracting a three year IPO on is income? Thank you.
 
Cantalia said:
Steve did they all go through the County Courts or were they put up to the high court? Thanks. Also if the only job you can get it in London where is good to live? I just posted on another thread asking how much approx a single man can earn without attracting a three year IPO on is income? Thank you.
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All these went through the county court except Manchester.
That was a case transferred from Liverpool. This is what they do there now.
But see my posts on Liverpool and London

As for what you need to live on. A single man in London on his own not sharing accom, you probably only need £2k. If you share it could be £1800. These are ball park figures

Steve Thatcher
www.helpwithdebtuk.coom
 
Thank you Steve, where is your post on London? My husband and I considering uk option and London would be our place of work. We have a friend whose apartment we coud possibly rent in croydon? Is that good? We are going to finally decide this weekend and will contact you then. Your website is very informative.
 
Cantalia said:
Thank you Steve, where is your post on London? My husband and I considering uk option and London would be our place of work. We have a friend whose apartment we coud possibly rent in croydon? Is that good? We are going to finally decide this weekend and will contact you then. Your website is very informative.
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Croydon is great.
if two of you go, how many would be working? How many kids have you got? Are you going to run a car.

It is really impossible to produce an definitive guides all I can give are useless ball park figures without doing some proper work on it.

Steve Thatcher
www.helpwithdebtuk.com
 
Cantalia said:
Thanks for all your contributions, it means a lot to a lot of us on the ground in Ireland to have someone who is actually conducting the business of it over there to give his free time and advice. On a bad day it can be a lifeline.
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Does Steve do all this for free?
 
seantheman said:
Does Steve do all this for free?
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Of course he doesn't. It costs about 5K (at the weekend someone mentioned 4K on the radio). But what he has done is post on here a lot of free information and advice. And presumably via that he gets clients.

Cantalia, if you are worried about an IPO (interim payment order I presume) than your husband should not take a job paying 35K. You're also suggesting negotiating with the Irish bank after the bankruptcy has started, and that looks to me that you are trying to do the right thing, not go bankrupt but only making a worse mess for yourselves. Why make thinks complicated. If you are bust, go bust. I say this because you've mentioned how stressed you and your husband are. You as a couple need to take charge of the situation, and if that means UK bankrutpcy then go for it.
 
[Have you ever tried to file the bankruptcy petition in the UK, then contact the Irish bank in Ireland and see if they would take a lump sum and write off the rest rather than letting the bankruptcy go ahead and get nothing????

Good question. It depends on the bank and the individual financial circumstances. The banks have been careful not to create precedents of debt forgiveness to date. However, if you can demonstrate to the bank that they would be much better off if your husband did not go bankrupt, then you have a chance.

In the meantime, a realisation is beginning to happen within the banks that debt forgiveness must be given for debt that is clearly unsustainable. I am unable to name particular banks, but one major bank is now offering debt forgiveness deals (in anticipation of the new Personal Insolvency Arrangements etc.) However, the debt forgiveness deal is almost akin to bankruptcy in that they want all of the debtor's assets and a five year payment plan based on income levels. The deal is currently only being offered on buy to lets etc, and not on family homes. Such a debt forgiveness deal would be very attractive to younger debtors, as they have time to re-invent themselves.

Jim Stafford
 
Jim Stafford said:
but one major bank is now offering debt forgiveness deals (in anticipation of the new Personal Insolvency Arrangements etc.) However, the debt forgiveness deal is almost akin to bankruptcy in that they want all of the debtor's assets and a five year payment plan based on income levels. The deal is currently only being offered on buy to lets etc, and not on family homes.
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That's a very interesting developement, I presume you are bound by confidentiality from naming the bank but where one goes the rest will follow.

I guess if Cantalia leaves the apartment it becomes a buy to let and then may if her bank is the one you refer to the option she spoke of could be possible.
 
Jim Stafford said:
. If you need advice on IVA's you could email Charles Turner of FRP Advisory [email protected] (FRP are a specialist insolvency firm with 29 partners and 9 offices in England & Wales)

Jim Stafford
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Moderator

I wonder if a key post with a list of the experts such as Jim Stafford and Steve Thatcher and now this new company would be helpful. Their names, web contact and a brief summary of who they are and what they do?
 
Jim Stafford said:
In the meantime, a realisation is beginning to happen within the banks that debt forgiveness must be given for debt that is clearly unsustainable. I am unable to name particular banks, but one major bank is now offering debt forgiveness deals (in anticipation of the new Personal Insolvency Arrangements etc.) However, the debt forgiveness deal is almost akin to bankruptcy in that they want all of the debtor's assets and a five year payment plan based on income levels. The deal is currently only being offered on buy to lets etc, and not on family homes. Such a debt forgiveness deal would be very attractive to younger debtors, as they have time to re-invent themselves.
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Jim,

Whilst I hope you are correct I have yet to see any evidence of this in my own personal case - the bank are pretty much not adhering to the bleepin' MARP process, let alone getting to a commercial realisation I live in the UK and have the option to offer them next to nothing, as opposed to a deal similar to what you have outlined above.

K
 
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