UK/US Bankruptcy

[ngarstin]

Hi everyone. Just curious if anyone knows if filing for bankruptcy in the UK affects credit standings in the US?

My husband was recently granted US citizenship and is considering filing bankruptcy before he hits US soil permanently. I'm pretty sure this has little to do with /my/ credit, but what about "our" credit in the future?

Any help or direction would be greatly appreciated. Thanks so much!

NGarstin

[lrprn]

Hi everyone. Just curious if anyone knows if filing for bankruptcy in the UK affects credit standings in the US?

Frankly, I don't know. The UK and the US have made an agreement to cooperate together on a new Chapter 15 - see http://www.uscourts.gov/bankruptcyco...chapter15.html for the details - but this has more to do with how to sort out debts that cross international borders and how to file for debt relief in one country while living in another.

I don't know for sure if/how this Ch 15 agreement might affect the credit record of bk filers who live in one country after a case is discharged and closed in the other. I would think that if a bk was successfully filed on UK-only debt and closed in the UK, then the US will honor it and there's no reason for the UK bankruptcy to show on a US credit report. But only a lawyer familiar with the bk law in both countries and Ch 15 will know for sure.

[ngarstin]

Thank you so much for your information. I'll check out that link very soon!

ngarstin

[tofargone]

It should not affect him. I looked into moving to Canada for a job a couple of years ago and read up on it. Since your credit is attatched to your SS number here, SSI number in Canada ( I don't know what its called in the UK ) The only way for his credit to affect him is if he pushed the bank to look at his UK credit report, which they probably wouldn't do even if asked. He will basically have no credit in the US, but at least it won't be bad. ( trust me that made moving to Canada look real good, to bad the job fell through )