mraitchison Posted November 15, 2004 Share Posted November 15, 2004 If I want to declare myself bankrupt in the UK whilst abroad can it be done. Do I have to go back or can I get a sloicitor to do it from here, or a family member? How long is the statute of limitations now - still 6 years? Link to comment Share on other sites More sharing options...
HarryHacker Posted November 15, 2004 Share Posted November 15, 2004 Two very questions. Also, lets assume that you have an outstanding fine imposed by the courts in the UK and one has made no attempt to pay it....how long would the statute of limitations be in this case? ( a pal of mine asked me to ask ) Link to comment Share on other sites More sharing options...
ZOVOX Posted November 15, 2004 Share Posted November 15, 2004 If I want to declare myself bankrupt in the UK whilst abroad can it be done.Do I have to go back or can I get a sloicitor to do it from here, or a family member? How long is the statute of limitations now - still 6 years? <{POST_SNAPBACK}> I have a computer cd which is used by the citizen's advice bureau in the U.K: It states that you can declare bankruptcy or the people who you own money too can file for bankruptcy against you. In the latter case, if you are abroad and don't show up to the court proceedings, you will be declared bankrupt in you absense. Personally, i stay in Thailand and just let the courts in the u.k do their thing - do you really want to go back and be 'put through the mill' ? Link to comment Share on other sites More sharing options...
mraitchison Posted November 15, 2004 Author Share Posted November 15, 2004 So theoretically if I went back to the UK took out a hundred grand or so in loans made at least the first payments to show willingness to pay them then returned here for 6 years I could go back and evrything would be back to square one. Link to comment Share on other sites More sharing options...
HarryHacker Posted November 15, 2004 Share Posted November 15, 2004 Well, I doubt whether your credit rating would be too good! Likewise, anyone who has not been in the UK for good reasons and have just disappeared from the system, their Credit raging would suck also. I am also of the view that Credit Card companies are not too keen chasing dead ducks as it will cost them more money to Bankrupt a defaulter. However, they (private snitch companies) will try to track you down and if your name is on any type of website, it may well show up on a search. I'm guessing that the member here called Pvt Dick may enlighten us more. Link to comment Share on other sites More sharing options...
Doctor John Posted November 15, 2004 Share Posted November 15, 2004 So theoretically if I went back to the UK took out a hundred grand or so in loans made at least the first payments to show willingness to pay them then returned here for 6 years I could go back and evrything would be back to square one. <{POST_SNAPBACK}> Lots of others have done the same thing, and the worse that can happen is you get done for fraud, 3 year sentence = 18 months, Nice open prison like HMP FORD, piece of cake. Try for 200,000! Link to comment Share on other sites More sharing options...
Pudgimelon Posted November 15, 2004 Share Posted November 15, 2004 So theoretically if I went back to the UK took out a hundred grand or so in loans made at least the first payments to show willingness to pay them then returned here for 6 years I could go back and evrything would be back to square one. <{POST_SNAPBACK}> Lots of others have done the same thing, and the worse that can happen is you get done for fraud, 3 year sentence = 18 months, Nice open prison like HMP FORD, piece of cake. Try for 200,000! <{POST_SNAPBACK}> It's called bank robbery. We've had a VERY long debate on this topic before, and basically it boiled down to this: On one side: People with ethics. They think it's a bad idea. On the other side: People without ethics. They think it's a great idea. Decide which side you're on and make your decisions accordingly. Just remember you'll have to live with the consequences for the rest of your life. The idiots who are advising you that a 3 year sentence for fraud is "no big thing", aren't the ones who are going to be serving the time and/or living with a felony conviction on their records for the rest of their lives. YOU will be. So you might want to consider that before listening to them. Link to comment Share on other sites More sharing options...
chonabot Posted November 15, 2004 Share Posted November 15, 2004 It's only considered "Fraud" if no repayments are made. If you make the 1st payment only , it's regarded as a "default". On non-priority debts ( ie unsecured and not utility related) this is not a prisonable offense. Link to comment Share on other sites More sharing options...
mraitchison Posted November 15, 2004 Author Share Posted November 15, 2004 Which is why I stated that I wanted to make at least one payement. 200,00 is probably the right amount to go for. Cleverly I have kept a few credit cards running that I use from time to time and pay off once every three months. Link to comment Share on other sites More sharing options...
chonabot Posted November 15, 2004 Share Posted November 15, 2004 Which is why I stated that I wanted to make at least one payement.200,00 is probably the right amount to go for. Cleverly I have kept a few credit cards running that I use from time to time and pay off once every three months. <{POST_SNAPBACK}> I realised you were Au fait with the rules/laws I was pointing them out to the scaremongers amongst us... Link to comment Share on other sites More sharing options...
GuestHouse Posted November 15, 2004 Share Posted November 15, 2004 There is not statute of limitations in the UK. Do not confuse the legal limitations that come with a Bankruptcy with a statue of limitations, they are not the same thing. Bankruptcy comes with punishments, and they are inplace for a fixed period of time, just like a sentance. Because there is no statute of limitations your unpaid fines (contempt of court - a prisonable offence) and any attemp to rob a bank through fraud would remain in place for life. Link to comment Share on other sites More sharing options...
mraitchison Posted November 15, 2004 Author Share Posted November 15, 2004 i believe that it is 5 years before your bankruptcy is finished.... after that the debts cannot be recollected. Link to comment Share on other sites More sharing options...
nogutsnoapplepie Posted November 15, 2004 Share Posted November 15, 2004 Which is why I stated that I wanted to make at least one payement.200,00 is probably the right amount to go for. Cleverly I have kept a few credit cards running that I use from time to time and pay off once every three months. <{POST_SNAPBACK}> Very clever indeed. Link to comment Share on other sites More sharing options...
mraitchison Posted November 15, 2004 Author Share Posted November 15, 2004 The clever part is not that I have kept a card for rippin off it's for emergencies - that I keep a credit rating going by using a card whilst away from country if I do ever decide to return I at least have a credit rating to go back too - unless Im bust of course Link to comment Share on other sites More sharing options...
nogutsnoapplepie Posted November 15, 2004 Share Posted November 15, 2004 The clever part is not that I have kept a card for rippin off it's for emergencies - that I keep a credit rating going by using a card whilst away from country if I do ever decide to return I at least have a credit rating to go back too - unless Im bust of course <{POST_SNAPBACK}> So you answered your own question.Well done sir. Link to comment Share on other sites More sharing options...
ZOVOX Posted November 15, 2004 Share Posted November 15, 2004 i believe that it is 5 years before your bankruptcy is finished.... after that the debts cannot be recollected. <{POST_SNAPBACK}> If you remain in Thailand and made bankrupt in your absense, i believe the debt is still collectible - That's if they can find you. Link to comment Share on other sites More sharing options...
siamruby Posted November 15, 2004 Share Posted November 15, 2004 I am in the UK and know someone very close to me who has been bankrupt for 2 yrs now. I know they will want everything valuable from you. Even your pension,if you have a big fat pension they will come and grab it at your old age. If you live in LOS they will suspect that your owe a house or so but can't see how can they get hold of it? But if you have anything in UK they will take everything and it s no good trying to transfer everything in your kids,parents,aunty or uncle's name before you go bankrupt as they will say it s a fraud! and take it all back! Average bankruptcy last about 5yrs, between that time no one can touch you even if they try to ask you to pay something after bankruptcy you can report that creditor because they will be breaking the law trying to ask you to be unfair to other creditors. After you are discharged then you are clean of debts, except your big fat pension. But also beware that if you happen to get any inheritance during your "time" they will take that too. And any money you earn during that time they only allow you to keep enough to survive if you have too much they want that share too. Well, if you have little pension, owe no property nor car. Your job only earn you a bit to live on and have no wealthy granma then go for it Oh but don't forget you can't join the Thai Elite card club if you are bankrupt. ( don't think you miss much there ) Link to comment Share on other sites More sharing options...
bartender100 Posted November 15, 2004 Share Posted November 15, 2004 I think it would be very hard to get a 200,000 grand unsecured loan,unless your credit rating was sky high. Link to comment Share on other sites More sharing options...
chonabot Posted November 15, 2004 Share Posted November 15, 2004 Not that hard these days , just start with one credit card , run up a bill of a few grand , apply for another as a balance transfer ( 0 %) , swap it over , apply for another etc. Very easy to get 20 cards with a limit of 10 k on each. Bastards almost deserve to be ripped off the way they encourage debt/lending amongst the less strong-minded citizens ..... Link to comment Share on other sites More sharing options...
siam Posted November 15, 2004 Share Posted November 15, 2004 There is not statute of limitations in the UK.Do not confuse the legal limitations that come with a Bankruptcy with a statue of limitations, they are not the same thing. Bankruptcy comes with punishments, and they are inplace for a fixed period of time, just like a sentance. Because there is no statute of limitations your unpaid fines (contempt of court - a prisonable offence) and any attemp to rob a bank through fraud would remain in place for life. <{POST_SNAPBACK}> I agree totally GH, What the OT has to bear in mind is,It is not just a case of saying right i want to go bankrupt, You have to first go to a Bankruptcy Solicitor and talk about all your options,why where and when,and how you want to go into insolvency,and pay for his services as only he can stamp the form that you need to apply at a court, They then fill in the forms for you to go to a apply for Bankrupty at the COunty court,Only then when you have all the forms to fill in for your creditors do you then submit the forms with a fee of about £300 to appoint a insolvency practitioner who will act on your behalf,They want to know everything about your background,Family,Money,health,Everything as i say even assets abroad,This is like your testimony for your court date,The insolvency people will sell all that you own or have given away in the recent years will be looked at or into, To see whether any law broken or offence has been commited,your case will be taken on,and a court date appointed, So your case is heard before a judge,The judge will then go through all your paperwork to see if you have a case,If you have a case and you haven't deliberately made yourself bankrupt,You will then be granted a Court order in your name or company name, Now this is the hardest part,You are not allowed credit or any kind anywhere for the duration of your bankruptcy,Even a saving account will be difficult to get let alone a cheque book,All money earned can be taken way from you,Except reasonble living expenses,So basically you will have to disappear or go on the dole for a few years, Another big matter is if you have nothing to hide,and you have been upfront your bankruptcy can be finished in 2 years,But a very big but,If they find out you have hidden things from them or made yourself Jobless homeless or deliberately bankrupt then you can find Bankruptcy lasting upto 15 years,and liable to a hauling before the County court,and probably on a charge of deception or even fraud?In the worse scenario, So it's upto you,You take your chance,But it will not be plane sailing that is for sure. Link to comment Share on other sites More sharing options...
mraitchison Posted November 16, 2004 Author Share Posted November 16, 2004 Good advice Lets go through tthe scenario then. I go back home for two weeks and organise 150,000 in loans. I leave 5000 in the bank to pay of the first set of loans and take the rest of the money out in cash. I then use a trusted friend (is there another more reliable method) to transfer the money to my bank account in the LOS - (or maybe go to Australia and open one up there). There are now no ties with the money to my family. How do I then declare myself bankrupt. My story to the court would be if needed a bad investment in Thailand. That did a runner. Or can I just not return and let everythng work out. Link to comment Share on other sites More sharing options...
ZOVOX Posted November 16, 2004 Share Posted November 16, 2004 Good advice Lets go through tthe scenario then. I go back home for two weeks and organise 150,000 in loans. I leave 5000 in the bank to pay of the first set of loans and take the rest of the money out in cash. I then use a trusted friend (is there another more reliable method) to transfer the money to my bank account in the LOS - (or maybe go to Australia and open one up there). There are now no ties with the money to my family. How do I then declare myself bankrupt. My story to the court would be if needed a bad investment in Thailand. That did a runner. Or can I just not return and let everythng work out. <{POST_SNAPBACK}> You will be better off remaining in Thailand, because if you were to go through the bankruptcy process, they check everything, and you would have to explain where the money went. If you just made a few payments and said you had a bad investment in Thailand, it would look very suspicious, and you would have to produce documenmtation to prove it. Also, once you start the process, they can get you for withholding info, fleeing the country and many more things, so it is best just to not be there at all. The only disadvantage of being absent is that the debt is not discherged, so theoretically the banks could come after you, but i think this is rare, because they would need co-operation from the Thai authorities to get you, and i doubt the Thais would do anything to help. Link to comment Share on other sites More sharing options...
chonabot Posted November 16, 2004 Share Posted November 16, 2004 So assuming you make the break with the dosh , will you furnish us with the details of your investments with the filthy lucre and how the next scams will take shape? Link to comment Share on other sites More sharing options...
HarryHacker Posted November 16, 2004 Share Posted November 16, 2004 Humm....as a wild guess, you intend to buy a bar, if so, with all the advice you have had from TV.com, it would be very nice of you to invite us for a free night of fun and much naughtyness.....better we have have it than your soon to be Ex GF........going going gone. Link to comment Share on other sites More sharing options...
udon Posted November 16, 2004 Share Posted November 16, 2004 Mr A. It would be easier to open a bank (savings) a/c in LoS than Oz. The rules for opening an a/c here (in SYD) are quite stringent and were reinforced a month ago. I was lucky, I scraped in just before the rules were changed in early Oct.. Good luck. Link to comment Share on other sites More sharing options...
stumonster Posted November 16, 2004 Share Posted November 16, 2004 It would be easier to open a bank (savings) a/c in LoS than Oz. and maybe you want to think about all that lucre going south if the baht nosedives. maybe bank a/c in singapore Link to comment Share on other sites More sharing options...
nogutsnoapplepie Posted November 16, 2004 Share Posted November 16, 2004 It would be easier to open a bank (savings) a/c in LoS than Oz. <{POST_SNAPBACK}> and maybe you want to think about all that lucre going south if the baht nosedives. maybe bank a/c in singapore <{POST_SNAPBACK}> ANZ Banking Group Ltd has had a presence in Singapore since 1974 when a representative office was established. This was converted to offshore bank status in 1980 and further upgraded to wholesale bank status in 2002. ANZ Singapore provides a wide range of banking products and services for both corporates and individuals. These include personal & private banking, corporate banking and investment banking. Singapore is also the regional hub for all lines of business across Asia. PM me if you want the contact name of the account opening officer.He comes to Bangkok every 6 weeks or so to open accounts. http://www.anz.com/singapore/singapore.asp Link to comment Share on other sites More sharing options...
mraitchison Posted November 16, 2004 Author Share Posted November 16, 2004 nogutsnoapplepie - would you really want me to meet your friend knowing that my idea is a dodgy one? What is the best way to get the money out of the country - If i transfer it directly from my uk to my foreign account can that cause me any problems. Can i wester union 150,000 quid? Link to comment Share on other sites More sharing options...
nogutsnoapplepie Posted November 16, 2004 Share Posted November 16, 2004 nogutsnoapplepie - would you really want me to meet your friend knowing that my idea is a dodgy one?What is the best way to get the money out of the country - If i transfer it directly from my uk to my foreign account can that cause me any problems. Can i wester union 150,000 quid? <{POST_SNAPBACK}> Trusted friend can send the money to your bank by T.T. and they do not even have to give there real name when filling in the paperwork. T.T. will cost approx UKSTG35.00 Link to comment Share on other sites More sharing options...
lukamar Posted November 16, 2004 Share Posted November 16, 2004 The clever part is not that I have kept a card for rippin off it's for emergencies - that I keep a credit rating going by using a card whilst away from country if I do ever decide to return I at least have a credit rating to go back too - unless Im bust of course <{POST_SNAPBACK}> Criminal intent to defraud is a lot different than defauting on a loan. I'm not up on UK law but i would hazard a guess that their laws are similar to Canada's and by declaring yourself bankrupt will not protect you from a criminal charge. I'd also check on extradition treties with the LOS & UK and ask myself what would happen if the UK ask for Thailand to Deport you or ask Interpole to arrest you. I'm thinking that they would refuse your visa renewal or refuse you reentry. Link to comment Share on other sites More sharing options...
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