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Expat Debt in The Netherlands, Bankrupsy?


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I am British and moved to The Netherlands 16 years ago when work was in abundance.

Being self employed in today's present climate is a much bigger challenge and I find myself in a very difficult situation.

My work has almost dried up and I would like to return to the UK with my Ukrainian wife and child.... However my debts amount to around €22000 (unsecured) and we do not own our own house here. To settle this debt before we leave would be at present impossible.

My question is, would my best option be bankruptcy? And would this have any adverse affect on our return to the Uk? Would this have an affect on my wife's application for a uk visa or citizenship?

Thanks in advance for any advice

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I am British and moved to The Netherlands 16 years ago when work was in abundance.

Being self employed in today's present climate is a much bigger challenge and I find myself in a very difficult situation.

My work has almost dried up and I would like to return to the UK with my Ukrainian wife and child.... However my debts amount to around €22000 (unsecured) and we do not own our own house here. To settle this debt before we leave would be at present impossible.

My question is, would my best option be bankruptcy? And would this have any adverse affect on our return to the Uk? Would this have an affect on my wife's application for a uk visa or citizenship?

Thanks in advance for any advice

 

First thing you should do is advise your Dutch creditors of your situation, if they are applying fees and higher interest because you are not making payments on time in accordance with any agreement. If you are facing hardship because of fees and interest being added, Banks will have processes in place to try to help. They might freeze interest. There is no need to settle any debt before leaving Holland and you can come to an agreement to make affordable payments. Banks will often agree to obtaining some repayment, rather than bankruptcy.

 

You can look into bankruptcy in Holland and see what this involves to see if this is an option. You can also declare bankruptcy in the UK on your return and include Dutch debts, but you need to understand whether this is a better or worse option. You really need to speak to a bankruptcy specialist and there are companies who deal with ' bankruptcies from abroad' if you google for them. Bankruptcy might affect certain types of employment, so you need to find out about that.

 

I don't know about your wifes situation, but i do know that people struggle to obtain Visas or any rights to come to the UK, unless the Spouse shows income above a certain level. I doubt bankruptcy would help any application. You would need to look at the Home Office website, to see their application process. It might be easier for your wife to gain Dutch citizenship and then as an EU citizen she would have rights to come to the UK. I think that is what some people are doing, as the UK has made it difficult to bring non EU spouses and partners to the UK.

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