Bankrupcy...

Old Feb 10th 2010, 1:01 am
  #1  
Forum Regular
Thread Starter
 
Joined: Jul 2008
Posts: 198
The Lost Paddy has a spectacular aura aboutThe Lost Paddy has a spectacular aura aboutThe Lost Paddy has a spectacular aura about
Question Bankrupcy...

Folks,

Hi, just a quick question if you do not mind please.

Ourselves and another couple are trying to move across to Toronto, neither couple are married (yet!) but have been together for a number of years each.

The guy in the other relationship had a couple of flats in Scotland, rented. The long and the short is that the letting agency put utter scum in one of his apartments when he was in Canada on the one year BUNAC visa, they thrashed the flat badly, did not pay rent for 3 months (the agency were often late with his rent payments anyway so he thought nothing of this until later in the mess), and left.

To cut a long story the letting agency washed their hands, never even gave him the deposit back etc, he came back from Toronto to try and solve the mess but at that stage he was in big bother, his only alternative was bankrupcy as he had no job to come back to etc.

So my question is how will this effect his application to Canada, or indeed any particular application to get across?

It was a private/personal bankrupcy I believe, and I believe also that he is out of the one year bankrupcy thing, he is now 'discharged' I think it's called, he has been told he will have the whole thing wiped from his record in 7 years, something like that but he is worried about the effect on his attempt to move to Canada and the fresh start he wants.

I'm doing this off my own bat as he's too proud to ask friends for advice, if I could go to him with some positive news I'm sure it will be a huge weight off, so any advice would be much appreciated.

Cheers,
TLP.
The Lost Paddy is offline  
Old Feb 10th 2010, 1:23 am
  #2  
Beep
 
el_richo's Avatar
 
Joined: Jan 2009
Location: Here
Posts: 8,311
el_richo has a reputation beyond reputeel_richo has a reputation beyond reputeel_richo has a reputation beyond reputeel_richo has a reputation beyond reputeel_richo has a reputation beyond reputeel_richo has a reputation beyond reputeel_richo has a reputation beyond reputeel_richo has a reputation beyond reputeel_richo has a reputation beyond reputeel_richo has a reputation beyond reputeel_richo has a reputation beyond repute
Default Re: Bankrupcy...

It won't affect his application (as far as i'm aware) BUT it will affect his credit in Canada.
el_richo is offline  
Old Feb 10th 2010, 3:08 am
  #3  
Forum Regular
Thread Starter
 
Joined: Jul 2008
Posts: 198
The Lost Paddy has a spectacular aura aboutThe Lost Paddy has a spectacular aura aboutThe Lost Paddy has a spectacular aura about
Default Re: Bankrupcy...

Originally Posted by el_richo
It won't affect his application (as far as i'm aware) BUT it will affect his credit in Canada.
I know this is a 'how long is a piece of string' type question, but would you have an idea of just how badly it may effect him? And in what way?

Know that is a tricky question but if you could give an indication that would be great thanks!
The Lost Paddy is offline  
Old Feb 10th 2010, 3:54 am
  #4  
Lost in BE Cyberspace
 
Almost Canadian's Avatar
 
Joined: Aug 2005
Location: South of Calgary
Posts: 13,386
Almost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond repute
Default Re: Bankrupcy...

Originally Posted by The Lost Paddy
I know this is a 'how long is a piece of string' type question, but would you have an idea of just how badly it may effect him? And in what way?

Know that is a tricky question but if you could give an indication that would be great thanks!
The same way it would in the UK. Creditors will be unlikely to want to take him on as a risk, or charge him the earth for doing so!
Almost Canadian is offline  
Old Feb 10th 2010, 4:05 am
  #5  
Forum Regular
Thread Starter
 
Joined: Jul 2008
Posts: 198
The Lost Paddy has a spectacular aura aboutThe Lost Paddy has a spectacular aura aboutThe Lost Paddy has a spectacular aura about
Default Re: Bankrupcy...

Originally Posted by Almost Canadian
The same way it would in the UK. Creditors will be unlikely to want to take him on as a risk, or charge him the earth for doing so!
Ah well, that's not too bad, it will most likely be a rental situation for the forseeable future anyway in terms of mortgage, and he only does debit card, never had a credit card etc (he had great credit rating up to the apartments situation, it's the only credit blip on his record, albeit a big one!) he's a year gone with it just now and It's not adversely effected his situation so I'm sure he will survive in Toronto in a similar situation.
Many thanks for the info.
The Lost Paddy is offline  
Old Feb 10th 2010, 5:25 am
  #6  
Forum Regular
 
Joined: Jul 2009
Location: Victoria, BC
Posts: 230
charlottyb has a reputation beyond reputecharlottyb has a reputation beyond reputecharlottyb has a reputation beyond reputecharlottyb has a reputation beyond reputecharlottyb has a reputation beyond reputecharlottyb has a reputation beyond reputecharlottyb has a reputation beyond reputecharlottyb has a reputation beyond reputecharlottyb has a reputation beyond reputecharlottyb has a reputation beyond reputecharlottyb has a reputation beyond repute
Default Re: Bankrupcy...

I am not sure if it will affect his credit here. When we applied for our mortgage here they were not able to access a credit check form the UK, so we had to pay for it and then provide it ourselves.
We were told by our bank and the mortgage broker that it is the only way they can check your credit abroad.
We were fine and got our mortgage. So, for large loans like a mortgage it would still be a problem, but not for credit cards as they don't go as far as accessing your credit history from the UK
Everyone that is new to Canada has to build up their credit rating, it is a frustration for many new to the country.

Last edited by charlottyb; Feb 10th 2010 at 5:28 am. Reason: forgot something!
charlottyb is offline  
Old Feb 10th 2010, 6:17 am
  #7  
Lost in BE Cyberspace
 
Almost Canadian's Avatar
 
Joined: Aug 2005
Location: South of Calgary
Posts: 13,386
Almost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond reputeAlmost Canadian has a reputation beyond repute
Default Re: Bankrupcy...

Originally Posted by charlottyb
I am not sure if it will affect his credit here. When we applied for our mortgage here they were not able to access a credit check form the UK, so we had to pay for it and then provide it ourselves.
We were told by our bank and the mortgage broker that it is the only way they can check your credit abroad.
We were fine and got our mortgage. So, for large loans like a mortgage it would still be a problem, but not for credit cards as they don't go as far as accessing your credit history from the UK
Everyone that is new to Canada has to build up their credit rating, it is a frustration for many new to the country.
They may not be able to check, but they will still ask questions such as "Have you ever been declared bankrupt" etc.

He will be committing fraud if he doesn't answer "Yes". Whether he chooses to do so will be a matter for him
Almost Canadian is offline  
Old Feb 10th 2010, 7:35 am
  #8  
Account Closed
 
Joined: Jan 2007
Posts: 2,404
jericho is an unknown quantity at this point
Default Re: Bankrupcy...

It wont have any effect on his credit rating, but as mentioned, it will probably make it harder to obtain credit.
jericho is offline  
Old Feb 10th 2010, 9:06 pm
  #9  
Forum Regular
Thread Starter
 
Joined: Jul 2008
Posts: 198
The Lost Paddy has a spectacular aura aboutThe Lost Paddy has a spectacular aura aboutThe Lost Paddy has a spectacular aura about
Default Re: Bankrupcy...

Thanks folks for all the info, it looks like he is not in too bad a situation then, certainly nothing worse than here anyway.

Cheers again.
The Lost Paddy is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.