Assisted Bankruptcy from Australia, New Zealand and Tasmania

One of the favourite continents to emigrate to is Australia with the outlying islands of New Zealand and Tasmania also being popular. All of these areas provide stunning landscapes, beaches and healthy lifestyles. These countries offer many people the new life that they seek, and this year thousands of UK residents will make the move to a new life overseas. A high proportion of these people will also carry some form of UK debts with them. Many people will leave their property in the UK in the event of their new life not working out as they hoped. Some will rent their property and others remain up for sale in a flat UK housing market.

We have helped many people living in Australia and New Zealand with UK debts. Most people will settle in these countries with the clear intention of paying these debts off, but various factors can influence this decision and exchange rates, cost of living and lower salaries can all impact upon these repayment plans.

Our assisted bankruptcy service for ex- UK residents living in Australia can be the ideal solution for many reasons. We can deal with your creditors and give them a point of contact within the UK. This then avoids the situation where, if you have given them your new address, they transfer the debt to a local debt collection company. This also avoids UK debt collectors contacting neighbours or family to try to locate where you are now living.

As part of our service we can also contact the mortgage company and deal with the hand back of your property. In some situations if your property has been on the market for some time and still not sold, this may be your best option to take. We will then make sure that the property is dealt with as part of the bankruptcy, as after the hand back there is a high chance of the property being disposed of via an auction. In these cases we normally see a large shortfall in relation to the value of the property and this can then be absorbed into the Bankruptcy leaving you debt free.

Below we show a case study from one of our clients that moved back to Australia and used our foreign bankruptcy service to resolve their property issues and unsecured debts.

Previous Client-Case Study

"Mr & Mrs K lived just outside of London for many years after moving from Australia. Both had good jobs in the financial services industry and after being in England for a few years purchased a nice detached property. As part of this lifestyle credit cards and loans were offered and taken, but with two incomes there were no problems maintaining payments.

When the "credit crunch" hit the UK, both jobs were placed under threat and when their positions became redundant they had to use credit cards to support themselves. Their situation was also impacted by a drop in equity in their property and with the house up for sale even dropping the house price did not bring any potential purchasers.

After countless attempts to secure employment proved unsuccessful, their mortgage fell into arrears and their credit cards limits were reached. The decision was made to return to Australia where friends and family were offering support and they vacated their property leaving arrears and unsecured debts of around £50,000."

Mr and Mrs K contacted our company and we took control of their situation. We informed all of their creditors of the preparation of the bankruptcy and confirmed amounts owing. We then contacted the Mortgage Company and the secured Loan Company and dealt with the voluntary hand back of their property.

We then prepared the bankruptcy and covered all of the debts that had been accumulated in the UK. The bankruptcy was presented to the High Court of London and approved, leaving our clients debt free and able to concentrate on rebuilding their lives in Australia.

Bankruptcy in Australia-how does it work?

Bankruptcy in Australia follows a similar pattern to Insolvency in the UK. There is one major difference between the UK and Australia - when you declare yourself bankrupt in Australia you do not pay a bankruptcy Court fee to do so, one of the most sensible rulings that we have heard of.

In the time we have dealt with Bankruptcy we have spoken with many other overseas insolvency companies including organisations based in Australia. The owner of Bankruptcy from Abroad had the opportunity of meeting Fred Appleton, a fellow bankruptcy specialist from Australia when he recently paid a visit to London.

A pleasant few hours were spent in a Covent Garden pub (drinking Fosters of course!) and discussing how bankruptcy operates in Australia and the differences in the way things are dealt with compared to the UK. One thing that became apparent during the meeting is that the "Credit Crunch" is a global situation and reflected in the worldwide economy, not just the UK.

If you are based in Australia with Australian debts, or even if you are living overseas with Australian debts we can wholeheartedly recommend contacting the following company;

www.fredappleton.com.au

Client Testimonials
Australia

 "I posted all the forms back to you yesterday via recorded delivery...I am confident it was all done correctly. I must say BFA make it very user friendly which helps"

"That's all good news - thanks so much Michael! It honestly has been such a huge burden and I feel like there is light at the end of the tunnel now - you really offer a great service"

F.B.
Coffs Harbour, NSW, Australia

"Thank you so much for your work. I am thrilled that my debt has been wiped, and the burden lifted from my shoulders".

A.R.
Potts Point, NSW, Australia 

"With the stress that my wife and I were suffering from, given our decision to declare bankruptcy, it was a huge relief to hand the entire matter over to Michael at BFA and get on a plane to Australia. We were able to start our lives over and our faith in BFA was vindicated when everything was taken care of promptly and efficiently. We were also very grateful for Michael's prompt response to any questions before and after the finalisation of the bankruptcy process"

K.T.
Sydney, Australia

 Client Testimonials
New Zealand

 "...thanks ever so much for updating me with the Court resolution and thanks for all your help during the process, I greatly appreciate it"

C.B.
Auckland, New Zealand

"Thank you for all your assistance with the bankruptcy it is greatly appreciated. Thank you for your kind wishes given to my husband and myself for our new life in New Zealand".

D.W.
Nelson, New Zealand