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bc73
Junior Member
United Kingdom
192 Posts |
 Posted - 12 July 2008 : 12:10:02
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Hi!I am currently on a DMP of £435 per month,with debts of more than 50k, have been paying them regularly but with a great deal of struggle.we have been merely living with our overdraft.I have got 3 kids under 12.youngest one is 18 months,Ive got a huge mortgage,DMP to pay ,Honestly most of the time hardly enough to buy milk and other necessities for my little ones.
I have applied for a job abroad and have been accepted.I dont want to let this pass as this is the oppurtunity weve been waiting for to start a new life,but I dont want to leave my debts unsettled at the same time.Will BR be an option for me?my husband will be jobless for the time being,that is why I am considering BR as I really dont know if I can keep up repayments with my DMP.
We have got a house but hardly no equity as I have 2 secured loans with them.Perhaps if it will sell,maybe £5,000 or less,just enough for us to buy tickets rent a house and a bit of pocketmoney abroad.employer wishes me to start this year.I really dont want to let this chance go.Please help us!
also if i file for BR here in UK will it be carried abroad?
many thanks
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Edited by - bc73 on 12 July 2008 12:10:46 |
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John
New Member
United Kingdom
73 Posts |
Posted - 13 July 2008 : 02:14:12
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Hi bc73
it's perfectly normal and oh so understandable for you to ask but the truth is it's difficult to answer all of the questions you have raised in a single post, far easier to take things one at a time.
Let's start with the new job offer and your plans for the future:-
Where is the new job offer and when would you emigrate?
Also, if you went would you intend to come back or would it be permanent? |
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bc73
Junior Member
United Kingdom
192 Posts |
Posted - 13 July 2008 : 09:18:34
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Hi!thanks for your reply.really sorry for bombarding you with loads of questions.just got carried away.
We will hopefully be going sometime this October in Australia.Weve only got a temporary visa.Im still unsure if we are going to stay for good,unless my job is ok and my husband finds a good job as well.we intend to stay their permanently.
Also I heard,we cant work and live in AU if we have been bankrupt in UK,is that true?
thanks for your reply. |
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John
New Member
United Kingdom
73 Posts |
Posted - 13 July 2008 : 10:08:23
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Hi
ok so nothing is written in stone as yet.
In which case with your husband now unemployed it's obvious you're ability to pay your DMP is severely affected.
Either reduced DMP payments or BR seem to be the way forward. Reduced DMP payments will not, of course, resolve the issue prior to emigration which leaves you with BR.
I would say that you need to time events to your best advantage though so it would help if you were more sure of your departure date.
As for AU's view on your BR I'm afraid I haven't a clue.
Perhaps you could contact Australia House, or wherever it is these days, and ask the question anonymously. |
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melanie_giles
Senior Member
1191 Posts |
Posted - 13 July 2008 : 22:51:47
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The Australians have a pretty tough policy on bankruptcy, and this may affect your ability to apply for a work permit or eventually get permanent residency. If you and your partner have skills which are needed in Australia and there is a shortage of local labour, this may not affect your application.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 14 July 2008 : 11:45:49
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Hi BC73 and welcome to the forum.
I agree with Assist that your best course of action is to talk to the embassy to see what impact a BR would have on a visa application.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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bc73
Junior Member
United Kingdom
192 Posts |
Posted - 14 July 2008 : 12:30:30
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Hi!Thank you all for your reply.
If BR would jeopardize our plan to eventually live in AU,will IVA be a better option for us?
and can I still apply for it even if I have sold my house?
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 14 July 2008 : 12:46:55
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Hi BC73,
IVA and BR are BOTH classified as personal insolvency. Again, consult the embassy to see the possible effect.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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bc73
Junior Member
United Kingdom
192 Posts |
Posted - 15 July 2008 : 15:30:50
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Hi Jullian!thanks for your reply.I have spoke to australian immigration(with lots of courage!)and I have been informed that BR and IVA are civil matters and as long as its not criminal offense there wont be any problem if in case we want to stay there permanently.But she did inform me as well that it may or may not affect our credit status, it depends whether how far(Australia) the extent of report the bank or creditors make on the BR or IVA.
Im still waiting for DMP specialist in DFH(where my current DMP)to give me a ring to discuss if I can have a reduced payments on my DMP,otherwise BR is my next option as I ve been told by one of their staff that I dont qualify for IVA.For the reason that if I will be living in AU,and only myself working,our financial status is unstable and I probably would pay more than what Im paying on my DMP.which of course I couldnt afford at this point in time.
Is there anyone in this forum an expert on DMP please?
Hope to hear from all of you again.Many thanks!
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dont want to let this chance go.Please help us!
