financial situation

[islander]

Hi to all!

I am worried about the financial situation of my fiance. Here is the story, my fiance's credit card was stolen by one of his friends. At that time, he was not aware it was gone because he didn't use it. When the bill came, he was surprised to see the amount due he never incurred. He tried to locate his friend but no where to be found. He filed evidence against the bill and had some hearings. But it seems that the bank doesn't believe him. However, he doesn't want to pay. It is a big amount and interest keeps on adding up. He could not afford it. Instead, he wants to file bankruptcy to solve it.

And now, my question is: If my fiance files bankruptcy, do you think, it could affect our visa processing like for example fiancee visa or spousal visa? I would really appreciate to hear some experiences similar to mine and advices as well. Thanks in advance!

[eljean]

yes....he has to settle this things b4 you apply for visa as he need to prove that he is financially capable of supporting you in the uk...

[baboyako]

that is the worse thing he can do. It would be better to agree repayment with the credit card company. if he told the bank he couldn't pay, the bank must stop interest accruing on the card.


if you are a bankrupt many companies will not employ you :Help1: even after the 6yrs are expired. you will also have problems getting a mortgage.

[scotsfiancee]

Do not go for bankruptcy instead he will contact to any Debt Management Company and explain to them the sitution. They will help to sort his debts. And he still can keep his bank account.

To file bankruptcy means he will have no bank account. Black listed for 6 years!

[islander]

So, if he filed bankruptcy it could affect our visa processing like fiancee or spousal visa?

Btw, thanks for the replies, guys. I'll tell my fiance about the Debt Management Company. It sounds sad that he will be blacklisted for 6 years and no bank account.

[baboyako]

i think debt management companies are not a good idea..

If he speaks directly to the credit card company normally he will get a better deal - like no interest to pay. it will have no effect on the visa application.

[andypaul]

Speak to the credit card company and also the CAB, in fact its best to seek legal/expert advice before speaking to the credit card company if possible to make sure.

[joebloggs]

i may be wrong but is islander the same person as troubled :Erm: if your not sorry as both posted 1 msg and have big problems..

go bankrupt because you owe one cred card ? what was your limit ? i owe 2 cred cards, put £2000 on visa fees on one, and £900 op for me dog on the other, ive just been to my bank to get a loan to pay them off, so i dont have to pay 17% intrest :yikes:

i find it hard to believe that he cannot pay one card off, i dont know what his limit was on the card £3000, minimum payment would be what £70 a month :Erm:

why not apply for another card with intrest free transfer for a year, and cancel the old card..

end of the world for one cred card :cwm24:

[skysky]

Firstly when backrupt you can still obtain a bank account.... natwest step ac, royal bank key account.... co-op cashminder account.

If bankrupt you dont have every penny taken away from you ! yes the house and car might be at rish but it depends on the equity in it.

If your freind has other debts and these are all cleared with teh bankruptcy then he may have more cash in his bank each month to show he can support his financee.

And unless he is asked on teh immigration form or they credit check him, how would they know when his finacee applies for a visa.... as long as he has a bank account and has some moneyt each month to show he can support her I dont see the problem.

[skysky]

ment to also say, only if you have a job in the finance industry or similar are you at risk of loosing a job.

[walesrob]

if you are a bankrupt many companies will not employ you

Not true unless your employment is within the banking sector...

Insolvency uk, government organisation has all the correct information, and you can even file your bankruptcy petition online:

http://www.insolvency.gov.uk/

To the OP, I would suggest that the person who is alleged to have incurred this debt to speak the the credit card company first see if something can be arranged. If he cannot provide sufficent evidence to prove he did not incur the credit card debt, I'm afraid he will have to pay it.

[baboyako]

? i owe 2 cred cards, put £2000 on visa fees on one, and £900 op for me dog on the other, ive just been to my bank to get a loan to pay them off, so i dont have to pay 17% intrest :yikes:

In hindsight you should have cooked the dog, saved 900, and enjoyed a slap up meal :xxgrinning--00xx3:
:action-smiley-060::D

[LadyJ]

Hi to all!

I am worried about the financial situation of my fiance. Here is the story, my fiance's credit card was stolen by one of his friends. At that time, he was not aware it was gone because he didn't use it. When the bill came, he was surprised to see the amount due he never incurred. He tried to locate his friend but no where to be found. He filed evidence against the bill and had some hearings. But it seems that the bank doesn't believe him. However, he doesn't want to pay. It is a big amount and interest keeps on adding up. He could not afford it. Instead, he wants to file bankruptcy to solve it.

And now, my question is: If my fiance files bankruptcy, do you think, it could affect our visa processing like for example fiancee visa or spousal visa? I would really appreciate to hear some experiences similar to mine and advices as well. Thanks in advance!

Actually, bankruptcy is usually discharged after 12 months.

http://www.insolvencyhelpline.co.uk/bankru...kruptcy-end.htm

but ask your partner to go to Citizen Advice Bureau for more advice:xxgrinning--00xx3:

[skysky]

Actually, bankruptcy is usually discharged after 12 months.

http://www.insolvencyhelpline.co.uk/bankru...kruptcy-end.htm

but ask your partner to go to Citizen Advice Bureau for more advice:xxgrinning--00xx3:

or 3 years in scotland, but law due to change dec 2007 to that of england and will be 12 months.

[joebloggs]

In hindsight you should have cooked the dog, saved 900, and enjoyed a slap up meal :xxgrinning--00xx3:
:action-smiley-060::D

yes well its 12yrs old, when it's :gost: you can come and collect it, and make a lechon, except it will not be the dog on a stick but a badboy pinoy :action-smiley-081: :D

when my wife went mad at the £900, i told the wife, its her or the dog, so the dog still here :icon_lol:

well with hindsight, if i had known the gov would push up visa fees from £335 to £750 each i would have got them all here earlier :rolleyes:

[fred]

why not apply for another card with intrest free transfer for a year, and cancel the old card..Because they no longer exist as far as I am aware..Most that I know have a 2%/3% transfer charge and much depends on credit history as to whether he will be able to get one.
My credit record has been perfect for years but since I sold my house and moved into rented, my credit score has tumbled and I was refused a card on my last application. :cwm23:
I will not apply for others as further refusals will probably further damage my score.
If the guy had reported the theft to the Police and immediatley to the credit card company, he may have been covered by the companies insurance..
A good place to ask the question would be moneysavingexpert.co.uk
They are pretty damned good over there.

Give me some rep power..You know I deserve it!!

[joebloggs]

oh they do exist, ive just transfer money from a barclaycard which was on interest free transfer for 9 months and a rbs master card which was on interest free for more than 6 months, and i would have appiled for a hsbc card which has 0% on balance transfers for 12 months !!! but ive done enougth of it all now, so i got a loan paid them all off.

but when rbs phoned me, saying why didnt i get a loan to pay my cred card off, i told them why when i can get at least 6 months int free if i transfer to another credit card, what did they tell me, oh why dont you apply for a master card int free for 6 months !!!! :Rasp:

if you got the time, you can beat'em at their own game, sure you pay a transfer handling fee, but you still save :REGamblMoney01HL1: as long as you never use that card :xxgrinning--00xx3:

nah , no rep power, you'll have the same as me then :UpYurs:

when you moving to pinoyland fred ? my wife wants to move to oz or new zeland , becuase its hard for her to get training to be a consultant here now ,the gov has screwed it all up :cwm24:

[islander]

Hi! Thanks so much for all your infos. I will be sending this link to my fiance for him to weigh things before deciding.

God Bless you all!

[KeithD]

You just transfer every 6 months to keep 0% interest, or get a 7% bank loan. Not paying is NOT an option, as you'll all be screwed.

He does need to go the CAB though, that is 100% certain.

[fred]

oh they do exist, ive just transfer money from a barclaycard which was on interest free transfer for 9 months and a rbs master card which was on interest free for more than 6 months, and i would have appiled for a hsbc card which has 0% on balance transfers for 12 months !!! but ive done enougth of it all now, so i got a loan paid them all off.

but when rbs phoned me, saying why didnt i get a loan to pay my cred card off, i told them why when i can get at least 6 months int free if i transfer to another credit card, what did they tell me, oh why dont you apply for a master card int free for 6 months !!!! :Rasp:

if you got the time, you can beat'em at their own game, sure you pay a transfer handling fee, but you still save :REGamblMoney01HL1: as long as you never use that card :xxgrinning--00xx3:

nah , no rep power, you'll have the same as me then :UpYurs:

when you moving to pinoyland fred ? my wife wants to move to oz or new zeland , becuase its hard for her to get training to be a consultant here now ,the gov has screwed it all up :cwm24:

My point is that I have 10K on my card and this debt is about 3 years old now..Although we have had every interest free deal going it still costs me 200 quid everytime I transfer it because of the new charges..This didnt use to happen. 0% meant 0%.

We are going on the 18th of July...Cant bloody wait!!

Tell you what..You give me some rep power and I'll give you some!!
Deal or no deal??

[fred]

You just transfer every 6 months to keep 0% interest, or get a 7% bank loan. Not paying is NOT an option, as you'll all be screwed.

He does need to go the CAB though, that is 100% certain.

Hey !! About time you did the business with my rep power too keith..
Cmon!! You know it makes sense!!:xxgrinning--00xx3:

[joebloggs]

My point is that I have 10K on my card and this debt is about 3 years old now..Although we have had every interest free deal going it still costs me 200 quid everytime I transfer it because of the new charges..This didnt use to happen. 0% meant 0%.

We are going on the 18th of July...Cant bloody wait!!

Tell you what..You give me some rep power and I'll give you some!!
Deal or no deal??

done :D

[joebloggs]

My point is that I have 10K on my card and this debt is about 3 years old now..Although we have had every interest free deal going it still costs me 200 quid everytime I transfer it because of the new charges..This didnt use to happen. 0% meant 0%.

We are going on the 18th of July...Cant bloody wait!!

Tell you what..You give me some rep power and I'll give you some!!
Deal or no deal??

are you paying it off :Erm: or you doing a errr :woohoo:

my nephew, his business was doing really well for years, and then microsoft :censored: him over, so he quit, and owned the bank £25k, he went to CAB and they wrote a letter to his bank saying he couldn't pay much, and he offered to pay £1 a month, and they accepted !!! :xxgrinning--00xx3: :D :icon_lol:
he wanst made bankrupt or anything, still has a bank account

[fred]

are you paying it off :Erm: or you doing a errr :woohoo:

my nephew, his business was doing really well for years, and then microsoft :censored: him over, so he quit, and owned the bank £25k, he went to CAB and they wrote a letter to his bank saying he couldn't pay much, and he offered to pay £1 a month, and they accepted !!! :xxgrinning--00xx3: :D :icon_lol:
he wanst made bankrupt or anything, still has a bank account


Naa..We have decided to let it run on the 0% for another year..
If I was going to do a runner with credit card money I would do it for a lot more than £10,000.
As you can see,the thought did cross my mind!!
If we hit our cards for the maximum its scary to think how much I could bank.:yikes:
I suppose a lot of people in my position would do exactly that..
I'm far too honest for my own good..
(rep point for my impeccable honesty anyone?)


done :D

Rep returned!! Good doing business with you!!

[islander]

Hi guys. thanks a lot for the replies. My concern is if my fiance filed bankruptcy could it affect our visa processing?

[KeithD]

Yes, as he has no way of supporting you, so it will be denied.

[skysky]

HOw can he not support you.

The official reciver will take 50% of any surplus income..... surplus income is after you have given a statment of affiars, saying what you need to live off.

for example, you earn £1500pm, your statement of affairs show for your mortgage/rent and bills and food ect you need £1000.... you are left with £500. £250 of that or 50% will have to be paid to the official receiver.

what you do with that £250 is "up to you" so how can you not support a ph gf ?

also when she came over his soa would be looked at and ajusted for his partner, so maybe he needs £1200 a month to live.... so the or will only get 50% of the excess with is now £300 so he pays less, only £150!!

[KeithD]

:Erm: If the embassy checks that he's just become bankrupt, he can't prove 'no recourse to public funds'!!!

Besides, there is ZERO reason to declare bankruptcy. the CAB will mediate, he'll have an excellent credit record, and still pay off what is owed with only a few quid a month, probaby interest free, or at least low interest.

Creditors will always accept SOME money, rather than NONE, but most folk seem to think bankruptcy is an easy answer, when it is much more complicated than that, and can effect your life for years. :Brick:

[fred]

:Erm: If the embassy checks that he's just become bankrupt, he can't prove 'no recourse to public funds'!!!

Besides, there is ZERO reason to declare bankruptcy. the CAB will mediate, he'll have an excellent credit record, and still pay off what is owed with only a few quid a month, probaby interest free, or at least low interest.

Creditors will always accept SOME money, rather than NONE, but most folk seem to think bankruptcy is an easy answer, when it is much more complicated than that, and can effect your life for years. :Brick:

It really depends on how much you owe and personal situation..If its a serious amount that cannot be managed efficiently ,I heard Martin Lewis advise bankruptcy as the best route.

[KeithD]

I doubt his CC company would have let it go over the balance enough to make bankruptcy a viable option. Besides, the CAB will know ways of maybe getting the total amount down.

[STU3UK]

When applying for a Fiancee Visa will the immigration officers check if i have credit cards? I will bw supplying details of bank account and savings account with about 5k when I apply.

[joebloggs]

i dont think so, i had a loan and 3 credit cards, which makes the whole idea of showing you have savings a bit pointless if you dont have to declare your debts, as i've said before, if you dont have much money left each month, if your planning to get married and apply for a visa, 6 months before you do, get a loan for £5k from your bank and leave it in your current account, when when you've got your 6 months of bank statements showing your £5k, get married, apply for visa, and pay the bank back.. :rolleyes:

now have i ever done that :icon_lol:

[KeithD]

now have i ever done that :icon_lol:

Probably not the paying back bit :xxgrinning--00xx3:

[joebloggs]

:omg:

i've thought about it thou :D , but bank told me i've got excellent cred rating, before i meet the misses i had :REGamblMoney01HL1: , that much to buy a house for cash talking 8 yrs ago, nah a bit more than one of your scouse terraced houses :D , i even got invited to a :xxparty-smiley-050: :66: :party-smiley-012: :9: party at me local branch after they refurbbed it, but marrying a student doc, and all them hols and air tickets, etc just vanished :bigcry: . til now i owe them :Brick:

[KeithD]

We've just bought a 'house' in Nevada....I'll rent it out to you Joe since we are close friends :Sex:

http://home.earthlink.net/~ghosttowns/dv/dvwest/image055.jpg

[fred]

We've just bought a 'house' in Nevada....I'll rent it out to you Joe since we are close friends :Sex:

http://home.earthlink.net/%7Eghosttowns/dv/dvwest/image055.jpg

Where did you get your inspiration to purchase such a gem?
Bootle?:cwm3:

[joebloggs]

is that where your staying now ? how many stars is it ? and i dont mean the ones you can see thru the holes in the roof at night :D


oh thats what you get keith when you book one of those really scouser cheap package deals, you just don't know where your going to end up :icon_lol:


but i've been to a restaraunt like that in palawan :NoNo: , cheapest meal for 10 people ever. was so cheap my tip was bigger than the bill :xxgrinning--00xx3:

[KeithD]

I wouldn't say cheap where we are, it's the Hilton...someone has to pay Paris's legal bill :icon_lol:

[joebloggs]

thats the hilton in liverpool :omg:

looks more like the Clampetts home out of the The Beverly Hillbillies :D

[STU3UK]

Hi Guys,

As regular forum users probably know from previous posts im compiling my evidence for a fiancee visa for when we apply in July.

The Financial documents I am providing are;

Bank Account Statements Oct-Jul
Savings Account Statements Oct-Jul

The Bank Account is what my salary goes into each month and what I do is transfer 75% of that money into my Savings Account. The remaining money is what I use as my general spending money for the rest of that month until I get paid again.

For the months Oct-Jan the Bank Account was £1000 overdrawn by the end of each month as all the money that went in was used, so when I get paid it obviously just took out the overdraft and then as I spent it when back into it again. In Feb I completely paid off the overdraft and it has been out of the overdraft since.
Because I will be showing 4 out of 9 statements will be in the overdraft will this affect my application?

Also when I apply I will prob have around £250-500 in the Bank Account and £5000+ in the Savings Account. If I fully explain the way I use the accounts I shouldnt think this will be an issue but am slightly concerned about the prior overdraft statements.


Also it is important that I show statements from October as it has many Mobile Phn Top Ups in the statements that I used for calling txting my mahal.
Thanks for your advice

[andypaul]

Just explain it well like you have there. They should be ok with it why not.

As long as your situation is getting better i can't see any harm in it.

I found i wrote several pages regarding my finaces to ensure they could not say oh this or that was not right and deny the visa.