Here's my plan

[nc73]

Due to the many issues I currently have I don't have much of a choice. What about moving to the UK in 3 months or sooner depending on when i sell the house and come back sometime later in 08 and file a 7? I'd continue paying my student loans but nothing else. Anyone know what issues I might face? Apparently it has been done before but I don't know if it will work i n my case.
The paralegal I talked to said that the only trouble I would face would be the IRS, if i ever file taxes here that is. I will be consulting with an attorney or two just in case.

found this a while back: http://www.bankruptcylawmaryland.com...united-states/

[leftyf]

Except for the food, it might be kind of fun. Are you just going to hang out there or will you have a job? I would guess you'd still have to include any income in Euros or pound sterling in your means test. You could just go hang out in the Dakotas or Indiana or somewhere like that...what is the big advantage to leaving the country?

[nc73]

Except for the food, it might be kind of fun. Are you just going to hang out there or will you have a job? I would guess you'd still have to include any income in Euros or pound sterling in your means test. You could just go hang out in the Dakotas or Indiana or somewhere like that...what is the big advantage to leaving the country?

We're having another baby so we need help from family. My wife's family is there so it would be perfect. They would be able to look after the kids when she's working. I could get a job almost immediately upon entering the UK. We can't hang around too long in the states because my wife can't fly after december-april or so. I would of course hang around for a bit and send her there before December. Plus it's probably easier to get credit there since we'd have no real credit history there. If they go by our income there, we'd qualify for a 7 easily.

[danaf]

huh?

So you are moving to England because your wife is having a baby and her family will provide childcare while she goes back to work? And hopefully you will find work as well.

Then you will file and then fly back here to attend your 341 mtg?

I guess it could work.

Have you ever been to England? I lived there (in London) for 2 years and it is ridiculously expensive. Just wondering if you know what you are getting into. Prices for everything there completely exceed NYC living. Like a shirt there at Selfridges (or whatever the name of that dept store was) sells for 50 pounds, which is like 90 us dollars. It is just insane. Although I have no idea what jobs pay - when I was there I was in the military and was paid in us dollars.

anyways, best of luck with your plan.

[nc73]

huh?

So you are moving to England because your wife is having a baby and her family will provide childcare while she goes back to work? And hopefully you will find work as well.

Then you will file and then fly back here to attend your 341 mtg?

I guess it could work.

Have you ever been to England? I lived there (in London) for 2 years and it is ridiculously expensive. Just wondering if you know what you are getting into. Prices for everything there completely exceed NYC living. Like a shirt there at Selfridges (or whatever the name of that dept store was) sells for 50 pounds, which is like 90 us dollars. It is just insane. Although I have no idea what jobs pay - when I was there I was in the military and was paid in us dollars.

anyways, best of luck with your plan.

Yup, plus she misses her family, been nagging me for years. Scotland actually. Salary similar to here and living expenses are a bit higher but there are ways around that. We've looked into it and we'd be pretty well off there. No childcare costs..my wife could finish her nursing degree for free. We are all alone in Texas.

[aachudneymiles]

We're having another baby so we need help from family. My wife's family is there so it would be perfect. They would be able to look after the kids when she's working. I could get a job almost immediately upon entering the UK. We can't hang around too long in the states because my wife can't fly after december-april or so. I would of course hang around for a bit and send her there before December. Plus it's probably easier to get credit there since we'd have no real credit history there. If they go by our income there, we'd qualify for a 7 easily.

ok if your not a citizen of the uk how could you get credit and a job . Wouldnt you like any other country need citizenship which takes time and money. I think you should think what your doing over cause you can still be sued depending on what state they can just drop a summon at your last address and get a default judgement and to move and come back thats alot of money I would research everything. god bless and good luck

[nc73]

ok if your not a citizen of the uk how could you get credit and a job . Wouldnt you like any other country need citizenship which takes time and money. I think you should think what your doing over cause you can still be sued depending on what state they can just drop a summon at your last address and get a default judgement and to move and come back thats alot of money I would research everything. god bless and good luck

It's like the US, well more lenient, you don't need to be a citizen to get credit or a job. You just have to be a residence, and I get that through my wife who is a Citizen. Common misconception I suppose. I would only have to come back once.

[SinkingFast]

I see one for sure hole in your plan.

You'd need to file taxes in the US in order to file BK. Filed taxes are part of the required docs.

But if you're leaving the country with no real intent to live here again,............ Why even bother filing BK??

Can US Creditors come after you in the UK and garnish your wages or anything like that??

Would a Civil Judgement prevent you from going back and forth if you did decide to come back to the US for a visit??

[nc73]

I see one for sure hole in your plan.

You'd need to file taxes in the US in order to file BK. Filed taxes are part of the required docs.

But if you're leaving the country with no real intent to live here again,............ Why even bother filing BK??

Can US Creditors come after you in the UK and garnish your wages or anything like that??

Would a Civil Judgement prevent you from going back and forth if you did decide to come back to the US for a visit??

I could file, not a problem. Civil judgement won't prevent travel back and forth. Criminal yes. Again it will be less than a years time before I file so hopefully I won't have too many judgements. I'm looking at filing in May of next year. Oh with enough time yes it is possible for them to sell the debt to a UK agency, but it doesn't happen often.

[lrprn]

nc73, are you aware of Ch 15, a new bk chapter added when the current bk law passed in 2005? Ch 15 provides effective ways to deal with bankruptcy cases involving debtors, assets, claimants and other parties in interest involving more than one country. The UK is in process adopting this law.

See http://www.uscourts.gov/bankruptcyco...chapter15.html

[HHM]

nc73, are you aware of Ch 15, a new bk chapter added when the current bk law passed in 2005? Ch 15 provides effective ways to deal with bankruptcy cases involving debtors, assets, claimants and other parties in interest involving more than one country. The UK is in process adopting this law.

See http://www.uscourts.gov/bankruptcyco...chapter15.html

True, but as best as I can tell, a chapter 15 is used supplemental to a proceeding that "originated" in a foreign country. Thus, to file a chapter 15 in the US, nc73 would have to first file his BK in the foreign country.

[lrprn]

True, but as best as I can tell, a chapter 15 is used supplemental to a proceeding that "originated" in a foreign country. Thus, to file a chapter 15 in the US, nc73 would have to first file his BK in the foreign country.

Yes, just wanted nc73 to know that if the UK has adopted Ch 15, this was an option so that he wouldn't have to travel back to the US for a 341.

[nc73]

nc73, are you aware of Ch 15, a new bk chapter added when the current bk law passed in 2005? Ch 15 provides effective ways to deal with bankruptcy cases involving debtors, assets, claimants and other parties in interest involving more than one country. The UK is in process adopting this law.

See http://www.uscourts.gov/bankruptcyco...chapter15.html

Is that the only option? I've heard of it but haven't heard anyone been through it before. I don't want to ruin my credit in the UK either so I think I will stick to my first plan. I wonder if any lawyer is aware of 15...

[HHM]

Is that the only option? I've heard of it but haven't heard anyone been through it before. I don't want to ruin my credit in the UK either so I think I will stick to my first plan. I wonder if any lawyer is aware of 15...

Your average BK attorney is probably only tacitly aware of chapter 15.

Chapter 15 is really designed to accomodate BK's of multinational corporations. Although there is nothing in the BK code that says an individual could not do a chapter 15, you would probably be hard pressed to find an attorney in the US through normal means that has ever done a chapter 15.

But again, to do a chapter 15, your "main" BK must be filed in a country other than the US (and in a country with appropriate treaties).

[nc73]

Your average BK attorney is probably only tacitly aware of chapter 15.

Chapter 15 is really designed to accomodate BK's of multinational corporations. Although there is nothing in the BK code that says an individual could not do a chapter 15, you would probably be hard pressed to find an attorney in the US through normal means that has ever done a chapter 15.

But again, to do a chapter 15, your "main" BK must be filed in a country other than the US (and in a country with appropriate treaties).