MAT > Media centre > News > New guidance launched on bankruptcy and foreign issues

New guidance launched on bankruptcy and foreign issues

The Money Advice Trust, the charity that runs National Debtline, has partnered with the Insolvency Service to help people in financial difficulty better understand issues around bankruptcy when living abroad.
 
The organisations have jointly authored a new fact sheet to help people who currently live abroad understand whether they are able to go bankrupt in England and Wales together with the consequences of this serious option.
 
The fact sheet, hosted on the National Debtline website, is designed to help people considering applying for bankruptcy navigate the complexities that can be introduced by their living abroad, including time limits and other criteria for different areas of the world and the inclusion of assets held in other countries.
 
The charity is keen for the fact sheet, which has been formally approved by the Insolvency Service and will be regularly reviewed, to be used by other debt advice agencies across England and Wales when advising clients on bankruptcy and foreign issues.
 
Kath Rock, Information Manager at the Money Advice Trust, said:
 
“We are pleased to be working with the Insolvency Service to help people to better understand the bankruptcy process.  Bankruptcy is a serious option and it is crucial that people understand the consequences, as well as the complexities that arise if you live abroad, before choosing to apply.
 
“We hope that the fact sheet will prove useful, both to people in financial difficulty and other debt advice agencies across England and Wales in providing high quality advice to their clients.”
 
The fact sheet is available on the National Debtline website.
 
© Money Advice Trust Charity Number 1099506
site by rubbaglove