Want to bring my wife from Thailand: K-3 or immigration visa?

UK National Bankruptcy Advice and Mexican Spouse -> UK Immigration. HELP PLEASE!?

• I am a UK National returning to the UK and wish to bring my Mexican wife (7 month married) to the UK. However I am also facing bankruptcy and need advice please: First a little background: After years of studying (Bsc, MSc), and not so good personal financial management I have been working and facing debt in a loosing battle. When debts reached hundreds of pounds in interest alone, I no longer had a job and after all 0% deals, etc had been exhausted - I sought legal debt advice. With nothing left to my name I was advised of bankruptcy. However, I had also got engaged and my future wife was in a dangerous situation in Mexico on the border cities with the USA. At this time I sought to escape the UK recession and set up a business in Mexico to try and take on the debts rather than go bankrupt. Unfortunately this fell through and I entered into real hardship finances and was indeed facing absolute bankruptcy. However going bankrupt was apparently complicated. With the interest on my debts ridiculous, my legal debt advise was for me going through a debt management company which would attempt to freeze interest and settle on repayments of around £100 / month for a debt amongst several creditors for the total sum of around £27,000. This was successfully achieved. Having not missed a payment prior I was advised I had actually made it hard on myself to go bankrupt or settle (generous family offer at the time), and so had to on paper show my hardship. About a year ago things got very hard and I had to drop to token payments of £1 / creditor anyway. This was successfully achieved through the debt management company. I now am paying four creditors £1 / month and the debt management company £40 / month = Total £44 / month. However, I feel this is neither clearing debt or a final resolve. Or is it?? I want to wipe the slate clean after many years of hardship and start a new life and family and work hard. However, to now complicate matters I am going through the process of immigration for my wife. In the spousal visa application you need to prove you can support both of you without recourse to public funding. I have secured accommodation and temporary funding in writing from family and nearly secured a funded PhD placement, which will bring in income and improve my career prospects to where I want them to be. QUESTION: What would you advise me to do with my current finances? Go bankrupt or continue on a plan of repayment that will never see the debt cleared? And then does it pass onto my family in the event of death? The only way to repay the debt is to pay in full which is crazy at the moment. Plus it carries penalty charges. PLEASE ADVISE! So many people say avoid bankruptcy and so many say to go ahead! Including friends who are now successfully rebuilding they're lives and working hard! QUESTION 2: Will this affect my wifes spousal visa application or is the fact I am earning sufficient. We are both graduates. The UK Borders Agency is not much help here and the UK immigration and advisory service went bankrupt this year and the government isn't replacing until next year! Please see my other question (Theres only one at the moment besides this one) for more immigration related questions and answers. Also for the legal on immigration for any lawyers: http://www.ukba.homeoffice.gov.uk/policyandlaw/immigrationlaw/immigrationrules/part8/spouses_civil_partners/ I'm so confused as to what to do. I worked very hard for years prior to setting up business in Mexico and I know to well what 18 hour working days are like. Im ready to work hard again but in tumultuous times around the world and with nothing to my name right now is it better to just go bankrupt and start rebuilding from a blank slate? Thank you in advance!

• Answer:

  Not sure about the immigration side of things but I don't understand how paying only £1 a month off your debts but £40 to a debt management company is reducing your overall debt. I would suggest talking to someone about the debt who is not trying to make even money out of you while the debt is not reduced - such a a high street bank.