There is almost nothing worse than lingering debt you left back home. Collectors want to get paid but if you are a UK citizen now living in the U.S., that might be hard to do.
It’s not just that things are getting financially tighter for everyone that creates a problem for British citizens by living in the U.S. to repay debt. The weaker U.S. dollar does not help matters at all. With almost two $ necessary to repay one £ of debt repaying debts back in the United Kingdom from the United States is getting damn near impossible.
If you have lived outside the UK for less than three years, you can still go bankrupt in the UK from America but there is a three year time limit to do so. All of your worldwide assets will be included in your UK bankruptcy. That means that if you have a lot of home equity in a home in the US, it could create some complications with your bankruptcy in England. This is why it is important to get professional assistance and advice before you go bankrupt in the UK.
People don’t realize that it is possible to eliminate UK debts from America without having to return to the UK. And with the cost of international flights these days and not have to take time off work or hang around London to go bankrupt, the ability to do this online is a huge financial and emotional cost savings.
Nobody in the US Will Know You Went Bankrupt in the UK
While we live in an internet world, there is still no sharing of credit report data between the UK and other countries. If you eliminate your debt in the UK with bankruptcy, it will not be reported on your U.S. credit report.
By using a very experienced UK insolvency practitioner, you will be represented at the High Court in London so you don’t have to go back for any hearings, and your UK debt can be discharged, fully eliminated, giving you the opportunity for a fresh start in the U.S.