Emigrating when bankrupt?

theprancingpony

Hi Just a Quick one,

Can anybody tell me if you can emigrate to Australia or canada if you have taken out bankcrutcy?

Do they credit check you and is there any terms in your bankcruptcy saying you cant move abroad?

p.s. when youve gone bankcrupt how much can they make you pay back a month? How much does it cost to go bankcrupt any way of gettin the fees but on the bankcruptcy?

Bankcruptcy wannabe......:o

Rgc_3

Where the bloody hell have you been we ve been looking all over for ya :rotfl: :rotfl: :rotfl:

Glad you came back to the forum mate:beer:

Plenty of people on here that can answer your questions and take time to read Mike St Helens post "the bankruptcy Club "post which will give you loads of good advice

good luck:T

rog2

Hi PP, Glad to see you back.

As far as I can see, there is nothing in the normal Bankruptcy terms to say that you can NOT emigrate - I expect someone will put me right if I am wrong.

I am not aware of the emigration procedure so can not advise as to whether you would be subject to a credit check simply by applying. However Bankruptcy could impact on your ability to obtain credit, even in Australia, as they are likely to do a credit check on you at your last registered address, even if this was in the UK.
There is not a hard and fast rule about how much you would have to pay back every month, during bankruptcy. The OR will decide on how much you need, for basic living, and then if there is a surplus income of over £50 per month (after normal living expenses) then the OR is likely to issue an IPA Income Payments Agreement for a percentage of what is left. There is a table of what you can expect to pay over on the Bankruptcy Club thread.
An IPA will last for 3 years, but is only issued if you have surplus income.
The Bankruptcy period is, normally 12 months, unless there is a suggestion of fraud, but you can be granted early discharge from bankruptcy after as little as 22 weeks. Once you are granted discharge all normal bankruptcy restrictions are lifted, although you may still find it difficult to get credit or a normal bank account for several years.

Hope this answers a couple of your questions - why not come and look over the Bankruptcy Club and Supporters Club thread, where you will find a lot of helpfull advice.
Cheers
Rog2

smokybabe

Hi there:wave:
I can not offer any advice I am afraid, what I can offer however is a very big welcome back:j :j
The guys here are wonderful and will help you all they can.

theprancingpony

Sorry i havnt posted in a while, but at least im posting in the right forum now :j LOL,

Anyway to be honest i have lived the last 3yrs without obtaining credit and it dosent bother me not being able to in the future (partly the reason why im in this situation!)

The only thing that does bother me is getting a mortgage but ive given up on that idea when the house prices shot thru the roof!

Im here to stay, Debt free wannabe...... :T :T :T

rog2

theprancingpony wrote:

The only thing that does bother me is getting a mortgage but ive given up on that idea when the house prices shot thru the roof!

Im here to stay, Debt free wannabe...... :T :T :T

Once you are discharged from Bankruptcy you can apply for a mortgage in the normal way. It may be that the Lender requires a larger deposit and could well impose a higher than normal rate of interest for the first two years.
Do not be put off from applying to the normal High Street Lenders - there will e plenty of companies telling you that you can only get a mortgage through them, and at their 'crippling' rates of interest - just ignore them.

smokybabe

theprancingpony wrote:

Im here to stay, Debt free wannabe...... :T :T :T

Glad to hear it, if you get any more unhelpful persons muscling in on your thread, click on their user name and a new page will come up. Click on public profile and on that page there is an option to ignore the poster - that way you won't have to read their unhelpful comments.
As to a mortgage, we were forced to leave our tied house at the begining of this year and approached The Horrofax:eek: about a mortgage and the best they could do for us was one for 68k. My brother advised we see what turned out to be a brilliant independant financial adviser. He got us the mortgage we needed from Northern Rock fixed for 5 years at 4.99% and we are paying less for this than we would have to rent a similar property locally.:T :T

When you are sorted out you will have options and hey! who knows where house prices will be in a few years and you will be in a better position than many people as in - Debt Free.

Good luck with the future. xxx

rog2

smokybabe wrote:

Glad to hear it, if you get any more unhelpful persons muscling in on your thread, click on their user name and a new page will come up. Click on public profile and on that page there is an option to ignore the poster - that way you won't have to read their unhelpful comments.

You can also report abusive posts by clicking on the red triangle at the bottom left hand corner of the post in question - that way the forum monitors will totally remove the post, if they agree that it is abusive or offensive, then none of us have to read their comments either.:beer:

sandralovescats

Yes you can emigrate from the UK to wherever, but the point is whether the country you choose will allow you in.......