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There is no guarantee that the Bank will not proceed against you in the UK. However, if you are leaving Ireland, with no intention of returning it would be difficult and expensive to take any action in respect of UK earnings. Unless you are a high earner the Bank is unlikely to proceed beyond repossessing your house.
I thought you had to be resident in the country you have your debt for it to be enforced by the courts?
So in this instance, as they might move to UK and be resident there it cannot therefore be enforced, until they return back to Ireland.
I'm nearly sure that if you earn over £500 per week you have to let the assignee know.
Thanks to 44Brendan & mcloving for the replies. I do have a job offer for 6 months (May be extended to 12 months) in UK with take home salary of around 3500 Pound Sterlings/month and to the best of my estimate, for our family of 5 (we both and 2 kids and 3rd on the way), I expect this salary to be almost fully utilized every month..My main point is that, no offence meant to any of my Irish Irish fellow countrymen/countrywomen, I do not have any long term interests in Ireland and I have no problem whatsoever if I'll stay outside Ireland for 3-6 years depends on Bankruptcy in Ireland and depending on these circumstances, why would I bother going through Bankruptcy proceedings in UK??. I have already offered my Bank that they can keep every penny of the rent of the my house minus expenditures forever...Thank fully I do not have any other debts here but Management Company charges and house/mortgage insurance are the issues...I don't know what to do but my feeling is that even if they'll follow me in UK, there'll be hardly any cash/savings for them to take away...will I be considered commiting any fraud/crime??
You would not be committing a fraud or crime by relocating to the UK.
You have to decide whether you want to declare UK bankruptcy when you move there and be fully clear of any chance of the bank coming after you or avoiding that and not declaring bankruptcy and taking the risk because you are a foreign national, not on a high wage and no assets, hard to find in the UK, whether they will bother coming after you. Personally if you do make the move to the UK I'd go down the route of bankruptcy to get everything nicely cleaned up.
Just a question on your figures, you earned 70K in 2011 and paid no mortgage, but you also earned 9K (12 - 3) from the rent? So out of a total of about 78K you were barely able to live, is that correct?
How much is reasonable for a family of five will vary depending on a whole host of circumstances.
E.g where you live first and formost. A house for five in London will be vastly different in rental terms than one in Liverpool say.
If you are to maintain a vehicle for work purposes, that too can use up a lot of excess income.
You have a child on the way and a new born baby will be expensive.
In short it may be that your income of £3500 could be utilised for reasonable family expenditure.
Steve Thatcher
Hi Bronte. I paid all the money i got from rent, i.e 9000 to the bank..Just that I didn't have any more money left to pay to bank on top if it. I also have a substantial personal loan taken from a family member so used lot my savings to pay it off. and I paid around 15000 for my dad's treatment. I am living on the savings for a while any way and as there is no job here, thats why moving to UK. I am seriously considering Bankruptcy in UK but recent events like Sean Quinn are putting me off as its possible that Irish Bank may get annulment order from UK. Other thing to worry is the situation post Bankruptcy in UK as I heard that you are almost left penniless by UK banks once you are bankrupt even though you are working there.
Hi Steve. Thanks for your post. Honestly I believe that UK bankruptcy is the only viable option to get rid of all this debt once and for all but I am very worried when i read stories about how the people are left with only 10 pounds/month to spend after bankruptcy. As I've mentioned, I do have a job offer of around 3500 pounds/month and I can show that all this can be spent on expenses (as you know that sky is the limit if you want to spend!!!) but I am not sure what will be the court's reaction and probably you can share your experience with us that usually how much is "reasonable" expenditure, say if I am living in Manchester/Bristol (5 in the family)? and another worry is that after bankruptcy and IPA/IPO running through all 36 months, if I decide to leave UK another destination like, Nigeria or Middle east and will be unable to keep up with the payments, what will be the outcome??
Hello it is my understanding that a judgement obtained in one country can with the agreement of the court be recognised in another EU country for enforcement purposes.
Steve
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