UK Bankruptcy - Recognised abroad?

[andymac]

I have read on other forums that UK BR is only recognised here. If a BR person was to move to any other country, the fact that they had previously been BR is not recognised.

Is this true?

[MelanieGiles]

Not necessarily - depends in what context you mean - legal, obtaining further credit, property ownership, residency?

UK bankruptcy only has juridiction in the UK, but will include assets and liabilities based in other countries as well.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[andymac]

Thanks as ever Melanie.

I didnt mean having assets abroad, but I did mean that if, say, one decided to live in any other foreign country, I understand that Bankruptcy from the UK is not recognised there, in terms of obtaining further crdit (mortgage) etc etc.

thanks

[MelanieGiles]

I guess it depends upon the attitude of the lender - and if you are asked on an application form whether you have ever been bankrupt then you would have to answer than honestly.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp