D
Darek
Guest
Hi Posters...
I need some help/advice for one of my dear friend. This chap bought a house (I think around 650k during boom) and have been paying his mortgage but then lost his job. Being professional and struggling with growing kids university expenses, he applied job abroad and moved with his family. He has rented his house for last 2 years but has to send back a hefty amount every month to pay his mortgage monthly shortfall.
Now, he is thinking of declaring bankruptcy as his house is worth 360k to 390k which means a negative equity of more than 270k+
Any one knows, what he should do to get himself bankrupt declared. Can he just simply send them the keys or should he write to them? (He is not planning to return to Ireland as he can't see himself, getting a job in present market)
Can he declare himself bankrupt in UK when he is not resident in uk? (He is Irish national)
Any help /advice / contact will be appreciated.
Cheers
I need some help/advice for one of my dear friend. This chap bought a house (I think around 650k during boom) and have been paying his mortgage but then lost his job. Being professional and struggling with growing kids university expenses, he applied job abroad and moved with his family. He has rented his house for last 2 years but has to send back a hefty amount every month to pay his mortgage monthly shortfall.
Now, he is thinking of declaring bankruptcy as his house is worth 360k to 390k which means a negative equity of more than 270k+
Any one knows, what he should do to get himself bankrupt declared. Can he just simply send them the keys or should he write to them? (He is not planning to return to Ireland as he can't see himself, getting a job in present market)
Can he declare himself bankrupt in UK when he is not resident in uk? (He is Irish national)
Any help /advice / contact will be appreciated.
Cheers