living in Malta, debts in the UK mounting.

[jsssng]

I moved to Malta Nov. 2003 I have debts in the UK amounting to about £20,000 (6 debtors)some before I moved and some built up since here. Wages here a much lower than UK and with a court order here to pay maintenance for my ex-wife and 2 kids and am finding it impossible not to keep debts mounting to pay other debts. I am thinking of either an IVA or bankruptcy. What are the implications of living here with these (ie are they possible) two options and what would you recommend? Thanks in advance JS

[MelanieGiles]

Hi jsssng

You will be unable to propose an IVA from Malta unless you have a permanent UK address and can show evidence of residency. From your post, I think that this is unlikely.

Maltese insolvency law is based upon English law, but there is not provision for an IVA - interestingly a company can propose a voluntary arrangement but not an individual. I suggest that if you are not paying your debts, that you seriously look at bankruptcy as an option. Do you own any property which might be at risk in such proceedings.

I am attaching details of a website which provides some information on Maltese insolvency legislation, which may be of some use to you.

http://ec.europa.eu/civiljustice/bankru ... mlt_en.htm

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk