I'm pretty much hopelessly insolvent due to investment properties and reduced income and considering the UK route, as advised by an independent financial advisor.
Obviously the idea is to avoid an IPO, but what I work at is generally paid at a fairly high hourly rate. I'd rather work in my field if possible as it's what I know and it would keep up my skills, as it could be an issue for me later if I was to do something totally different for 18 months or so.
I am a single parent, and if I take the UK route I would be taking my child with me, leaving behind all the familiar and family supports we have here.
Would it be reasonable to work the minimum number of hours to earn enough to (just about) support us, or would I be expected to work full time as I do here?
The idea of a year or two to spend mostly with my child, even if we are broke, is very appealing compared to the constant struggle and stress of life as a single parent working full time.
Thanks for that. I can't really post full details of my situation as to post enough to get useful feedback would also identify me to anyone who would know me, which I'm keen to avoid at this stage.
Would renting a home and having a child in school in the UK be enough to establish COMI?
The work I could get would most likely be on a casual basis through an agency, so I wouldn't have a regular wage slip.
Thanks Steve. One other question if you don't mind - my oldest child would stay here as he's in college, and wants to stay in the family home for as long as possible, maybe even take over the mortgage long term if theres any way that could happen. Sharing it would bring in enough to cover the mortgage, but not sure if there is any way that would be possible? How do you think that would be treated in a uk bankruptcy? Is there any way to hold on to it without having a spouse? That's the only thing holding me back at this point - while I'm not attached to the house, and it's in huge negative equity, the family resistance to letting it go is hard to deal with.
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