Will bankruptcy or having an IVA prevent me emigrating to another country?

[lauratee]

I have a loan and credit card debts of about �20,000.00. I am just about managing to pay them every month and have just managed a balance transfer for the cards. My boyfriend and I plan to emigrate to Australia in the next couple of years if I declared my self bankrupt or was in a debt management scheme would this go against me?

[Killerschick]

You really need to consult the immigration policy of the country concerned. In the case of Australia a good place to start is the government website:-

www.citizenship.gov.au

I have investigated this issue previously but the individual concerned was married to an Australian citizen so was excepted from some of the normal criteria.

[themas]

If you become bankrupt now you should (unless there are unusual circumstances) be discharged in (at most) one year, so this could be before you move abroad. You may still have to make payments for your creditors after your discharge, but there is nothing - so far as UK bankruptcy law is concerned - to stop you moving abroad while you are doing so or while you are bankrupt.

If you go for an IVA it normally runs for 5 years and you would need to make sure at the outset that the conditions would not prevent you emigrating.

If you go for an informal debt management plan get it set up with CCCS, Payplan or a local CAB rather than a fee charging company. You can go on with payments after emigrating but might find the exchange rate fluctuation meant it cost you more.

Whatever you do, don't emigrate and try to leave the debts behind you - they will almost certainly find you eventually!

[flaming]

The Australian Government is very choosy nowadays. It is best to find out from Australia House (or the link given by anoher poster) about the status of immigrants. You might have to be a discharged bankrupt before being admitted.