Credit Rating Overseas – FAQ

On this section of our website we are posting some of the questions that people email us from all over the world. Hopefully you will find the answer to a query that you may have. If not, leave a comment below and we will do our best to answer you.

Click here to return to the main Bankruptcy from Abroad FAQ area.

Debt Bankruptcy Options for ex UK Resident

Q: I am living in New Zealand after moving from Essex. I have unsecured debts of roughly £25,000. I would like to use your service but will bankruptcy in England affect my new credit rating in New Zealand?

Most of our clients keep in contact with us after the bankruptcy has been declared in England and Wales. For this reason we constantly monitor this situation as this is a very common question that we are asked by people.

If handled correctly a person’s bankruptcy in England or Wales will not impact upon their credit rating overseas. However, if the case is not dealt with in a certain manner there can be an affect on your credit in New Zealand as the bankruptcy proceedings can “cross over” into New Zealand. At the moment there is no “global” credit report and when you declare yourself bankrupt you are bankrupt in England and Wales, not in the country that you are living in overseas.


Q: Hi I am living in Canada and have a fairly low amount of debt-around £5000 on 3 credit cards. I am not sure if bankruptcy is my best option but I am struggling to make the standard payments. Can I apply for debt management if I am living abroad and will this affect my credit in Canada?

You can set up a debt management programme if you are living overseas. I would say that maybe the amount of debt you have would be more suitable for debt management. You can still apply for bankruptcy with this amount of debt but depending on how much you can pay per month you may find debt management to be a better option.

In our experience this will not affect your credit rating in Canada. Your credit will be affected in the UK once you are in a debt management plan but this credit rating is in relation to the UK and not Canada.

As in all cases we recommend that you take advice on your situation. We can help you to decide on your best option and outline the good and bad points of any solution that you have available to you. Complete our short enquiry form and an advisor will be in contact to help you out.


Q: Do you have to say or disclose that you are bankrupt in the UK when living abroad?

We tend to keep in contact with our clients for the whole period of bankruptcy; normally this is twelve months which is the standard duration of a UK bankruptcy. As we offer our full support and assistance during this period of time, it also allows us to receive feedback from our clients in relation to how the bankruptcy affects their life overseas.

In our experience your credit history in the UK is separate from your new credit history in whichever Country you have moved to. We have had many clients applying for credit overseas while being bankrupt in the UK and they have had no problems or issues. In all cases that we have dealt with, the question that lenders or banks ask is “have you been bankrupt in this Country”. We have not yet had any feedback from clients that they have specifically been asked if they have ever been bankrupt in the Country that they have moved from.


Q:  Bankrupt in the UK-does it affect me abroad?

As per the other questions that we have posted on this section of our website we do not see much of an impact or effect on life overseas if handled properly. If, however you have assets overseas these can be included within your bankruptcy and this would then have an effect on things. If you are unsure feel free to contact us via email, telephone or by using our quick enquiry form.


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