[joseph274]

Hi all, unfortunately I will soon be declaring myself bankrupt in the Uk and plan to move to dubai in sept.
Is there anybody who has been in the same situation as me?
Can you move abroad if bankrupt?
would it effect my visa application?
Many Thanks.

 

[Laowei]

would be very surprised if your visa application was effected by your situation. if you have a job to come out to be warned it will cost you a fair few quid during the first few months to cover costs of moving out there and initial costs before your first pay day. If you have a good job to come out to it would be a good opportunity to start a fresh as credit scoring hasnt really taken off here yet. Just be careful.

Be warned though if you get into financial difficulties here, bancruptcy isnt an option, but a spell in clink is.

Good luck

 

[joseph274]

Thanks, I won't be trying for credit out there, my credit is very good but i lost my job and therefore had to hand over the house, thanks for the reply though!

 

[Kawasutra]

Hi all, unfortunately I will soon be declaring myself bankrupt in the Uk and plan to move to dubai in sept.
Is there anybody who has been in the same situation as me?
Can you move abroad if bankrupt?
would it effect my visa application?
Many Thanks.

You basically need an employer who is paying every thing upfront for you.
If not, I assume you will be in the same situation very soon here also.

 

[pamela0810]

The only difference is that you can "declare" bankruptcy back in the UK. If you lose your job in Dubai and end up with no money to pay your bills, you will be thrown in jail (unless you manage to do a runner before that) Laowei has mentioned this already. It isn't worth the risk as there is no set justice system here.

Suggest you think long and hard and only move if you have a stable job offer.

 

[joseph274]

i appreciate the help, obviously i have a good job offer otherwise I wouldn't want to move

 

[Toon]

i appreciate the help, obviously i have a good job offer otherwise I wouldn't want to move

Exactly Joseph.

Don't worry you wont have a problem, what I would suggest is that you keep in touch with your official receiver and pay the court agreed sum back over the term requested.

Good luck.

 

[BritishGuy]

Errrr......... once you're bankrupt you're done. Once your time (I think it's one year) is done, you're done.

Don't bother keeping intouch with your receiver. What for? Take this as YOUR bailout - just like the Big Banks have done with the tax payers money. I mean this.

You WON'T be affected in the UAE. Just make sure you don't try and mix your UAE finances with your UK ones.

 

[Canuck_Sens]

Thanks, I won't be trying for credit out there, my credit is very good but i lost my job and therefore had to hand over the house, thanks for the reply though!

Couple of things:

a) You credit score in the UK will go down pretty bad. After all you returned the house because you could not keep up with the payments. This is a default !!! and it will show up in your credit score unless you got a deal with the institution who lent you money. I hardly think they would engage in any kind of deal since they are not getting paid!!!!

So if you have a credit card in the UK, do not cancel it. Keep it.

If they are not going to damage your credit score I would be really surprised!!!

b) Once here, you can apply for credit cards. Why would not you ? They do not check your credit score in any other country in order to grant credit here.