Question

So I recently married my partner a UK citizen and currently I am working on my Visa to join them in the UK. A few years ago I made a horrible purchase of buying a car with a branded title.. at this point, not only is the loan more then the value of the car… but after three years needs over 5 thousand in repairs. I’m debating my options which seem few, almost want surrender the vehicle to the original loan holder and then know that I would have to owe the balance of the car when they sold it. This would leave me moving to the UK with a debt still owed.

So I guess ultimately my question now.. I see that debt may not follow me o the UK.. how will a US Bankruptcy affect my ability to build my credit in the UK..

Answer

Vic,

Congratulations on your marriage!

Do you have an idea of how much the deficiency balance if you give the car back will be?

Do you have any work lined up in the UK?  On a spouse Vise you can work to some extent.  And there is work here.

What other debts do you have in the US?

Bankruptcy is  harsh option, depending on how much you owe.

If you do not owe a lot, you can still move here and see if the accounts are sold here to be collected.  Collection agencies in the US may make threats, but they have to authority here in the UK.

Let’s discuss this more, as you have many options.

Regards,

Jon

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