Anna from Latvia with 240K EUR debt

Our client Anna* with debt over 240K EUR to Latvian banks

«Few years ago I was so exited when bought my one bedroom flat! Property market in Latvia was blooming, everyone was buying something. Salaries went up, we all felt like our lives are going to get better and better. Media and banks — all of them where selling the idea about ideal life — take a mortgage, buy your home, live happy, live your dream.

Soon after my first purchase I started to earn more money, got into a relationship and bought another — bigger flat — so I and my partner we would have home big enough for both of us. It was so easy to get a mortgage!

It didn’t take too long after we moved in to our new home when market and property prices went down. I lost my income and soon after my relationship also.

As I was not able to make any payments to my creditors, I was looking for some solution and one of my friends suggested that I should go bankrupt. After consultations with lawyers I realised it’s too expensive to go bankrupt in Latvia so I decided to go to UK.

I met Andrey Smolenko soon after I moved to UK. He was always very supportive and gave me answers to all my questions. I felt secure. He explained every step I had to make for my bakruptcy process to be successful. Very often I was worried and stressed out about various of things — what I can and what I should not do. Andrey was always there with the right advise.

After more than a year when all my documents where ready and complete, me and Andrey we went to the court. First hearing was not successful unfortunately. I was very upset but Andrey was there — supporting and cheering me up. He said — I will not give up until we get to a positive result! It happened twice — they rescheduled my hearing again next time. And again Andrey was the one who was very confident — we will succeed!

Third time was my lucky one. Finally I got my letter from the Court saying I’ve become bankrupt. Now it was only one year left until my bankruptcy discharge. All went well. It was very important to cooperate with my Official Receiver and give them all required information. It was still quite stressful time but as soon as I had any questions I was sure Andrey will be there with all the answers!

Now I am free from my debts since January. This is a new beginning. Thanks to my friends, Insolbaltika and especially Andrey!»

(* — client’s real name has been changed to «Anna» upon her request)