N
Night owl
Guest
Hi to All here on this very useful forum.
I am asking this very often repeated question for yet one more time.
I am originally Non Irish (Nigerian) having Irish nationality now and I have a mortgage of 500000 on apartment in dublin (I paid 25000 from my pocket as total value was 525000 in 2006). I paid in full till April 2011 with no arrears as was full time employed.
Unfortunately I lost my job in April 2011 and getting some part time stuff since then.
To minimize the living costs, we rented our apartment for 1000 per month from april 2011 onwards and that rent is also in arrears for last 4 months!!
we are now living in a small rural dwelling and managing OK with 3 small kids.
I haven't paid any thing to Bank since last April and used all the rent money for food/clothing/schools/heating for my family.
On top of it, there is also 1700 yearly management fees for my apartment and that too is in arrears and i am getting very regular threatening letter from them and I also have a personal loan of around 100000 taken from my country and that too is in arrears.
i have paid almost 15000 for the treatment of my father back home for his cancer.
I earned around 70000 in year 2011 but my expenditure but due to all those heavy expenses, could't pay the bank though having every intention to pay back my mortgage.
Now, unfortunately i am finding myself in an almost impossible situation of paying that mortgage back at all..
I am considering moving to either UK or back to my country due to lack of jobs/earnings..
I am reading few threads with regard to bankruptcy in UK but am a bit sceptic as to the consequences..
Please Please Please any advice....
Thanks
I am asking this very often repeated question for yet one more time.
I am originally Non Irish (Nigerian) having Irish nationality now and I have a mortgage of 500000 on apartment in dublin (I paid 25000 from my pocket as total value was 525000 in 2006). I paid in full till April 2011 with no arrears as was full time employed.
Unfortunately I lost my job in April 2011 and getting some part time stuff since then.
To minimize the living costs, we rented our apartment for 1000 per month from april 2011 onwards and that rent is also in arrears for last 4 months!!
we are now living in a small rural dwelling and managing OK with 3 small kids.
I haven't paid any thing to Bank since last April and used all the rent money for food/clothing/schools/heating for my family.
On top of it, there is also 1700 yearly management fees for my apartment and that too is in arrears and i am getting very regular threatening letter from them and I also have a personal loan of around 100000 taken from my country and that too is in arrears.
i have paid almost 15000 for the treatment of my father back home for his cancer.
I earned around 70000 in year 2011 but my expenditure but due to all those heavy expenses, could't pay the bank though having every intention to pay back my mortgage.
Now, unfortunately i am finding myself in an almost impossible situation of paying that mortgage back at all..
I am considering moving to either UK or back to my country due to lack of jobs/earnings..
I am reading few threads with regard to bankruptcy in UK but am a bit sceptic as to the consequences..
Please Please Please any advice....
Thanks