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Hi,
I am a UK resident and have recently moved to Australlia just for a year with my girlfriend.
I have started a business here and commited to renting a site in a shopping centre to trade out of. I have commited to a 6 week contract. It costs us $2500 per week on rent and we are 5 weeks into our contract. but we cant afford the last payment of $2500. If i declare myself bankrupt what can happen? They say they will just pass it onto debt collectors, but what can they do to me if i have no property here?? also if i just dont pay it will it affect me in the UK? i have a good UK credit rating and dont want this damaged.
please respond as i need to make a descision ASAP
Hi,
I am a UK resident and have recently moved to Australlia just for a year with my girlfriend.
I have started a business here and commited to renting a site in a shopping centre to trade out of. I have commited to a 6 week contract. It costs us $2500 per week on rent and we are 5 weeks into our contract. but we cant afford the last payment of $2500. If i declare myself bankrupt what can happen? They say they will just pass it onto debt collectors, but what can they do to me if i have no property here?? also if i just dont pay it will it affect me in the UK? i have a good UK credit rating and dont want this damaged.
please respond as i need to make a descision ASAP