Seeking Advice on Bankruptcy and Relocation

Mrapollo

I’m an EU citizen who has been living in the UK for the past 15 years. I’m planning to marry my girlfriend, but after reviewing the high costs of the UK partner visa, I’ve decided not to go through with it. Spending over £10,000 in visa fees over the next five years doesn’t make sense to me, especially since the UK no longer offers more opportunities than other EU countries.

I currently have some debts that I want to clear so I can start a new life abroad with a clean slate.

Campervan on HP agreement: £40,000 (owned for over a year and currently my home — I plan to return it to the finance company and include any shortfall in my bankruptcy)

Credit cards: £10,000                   

Personal loans: £18,000                  

Limited company debt to HMRC:  £10,000

I don’t own any assets apart from a car worth less than £2,000.

Most of my debts came from investing in my business and creative work, where I made some mistakes along the way. I now just want to move forward and rebuild my life.

I believe filing for bankruptcy is the best and safest option at this point. However, I’m concerned about whether the UK insolvency service could ask me to make income payments “IPA” once I’ve relocated and settled in another country.

I’ve considered bankruptcy, but I’m also aware that if I leave the UK and don’t return, my debts may eventually become unenforceable after six years. I’m trying to understand whether this would be an option? 

Could you please advise me on the best approach for my situation ? 

Thanks 

MeteredOut

Mrapollo said:

I’m an EU citizen who has been living in the UK for the past 15 years. I’m planning to marry my girlfriend, but after reviewing the high costs of the UK partner visa, I’ve decided not to go through with it. Spending over £10,000 in visa fees over the next five years doesn’t make sense to me, especially since the UK no longer offers more opportunities than other EU countries.

Do you mean not going through with the marriage, or the Visa/both? It's a bit ambiguous.