B
burnt-toast
Guest
To cut a long story short I have around €12k of debt with Irish banks. I used to earn a good wage and then I was made redundant during the downturn and had to turn to short-term contracts which didn't pay that well so I fell behind on loan and card repayments. I've now been unemployed for 5 months and am completely unable to make repayments on my debts.
I have been living in London for almost 2 years now and have applied for a form of bankruptcy called a 'Debt relief order' (it's aimed at people with <£15 of debt and no assets). I'm at the stage now where all I have to do is pay the insolvency service fee and the insolvency will go through within 24 hours.
However, i'm a bit worried that my creditors in Ireland (AIB, MBNA and Ulster Bank) can just say "We don't recognise English insolvency law". Technically they should, as there's supposed to be a reciprocal agreement throughout EU member states, and i've read newspaper articles about Irish home owners who have moved to England specifically to declare themselves bankrupt here, but i'm still a bit worried.
Can anyone advise? I've been trying to get hold of MABS but they're very busy and I haven't been able to speak to anyone yet.
I have been living in London for almost 2 years now and have applied for a form of bankruptcy called a 'Debt relief order' (it's aimed at people with <£15 of debt and no assets). I'm at the stage now where all I have to do is pay the insolvency service fee and the insolvency will go through within 24 hours.
However, i'm a bit worried that my creditors in Ireland (AIB, MBNA and Ulster Bank) can just say "We don't recognise English insolvency law". Technically they should, as there's supposed to be a reciprocal agreement throughout EU member states, and i've read newspaper articles about Irish home owners who have moved to England specifically to declare themselves bankrupt here, but i'm still a bit worried.
Can anyone advise? I've been trying to get hold of MABS but they're very busy and I haven't been able to speak to anyone yet.