Naturalisation query loans etc

[cruze24]

Hello Member...please i have an urgent question as my Naturalisation is due in couple of weeks and i have a business have been running which i am the manager but the business is no longer function due to brexit and covid....and i am owing bank some loans due to this....I have pay part of the loan but realised the debt will keep increasing the only way out is to liquidate the company as advised by my accountant.My question now is will this affect my naturalisation application or not?
Thanks a lot and merry Xmas in advance everyone.

[alterhase58]

Please refer to the "Good Charancter" guidance and search for "Debt", "Bankruptcy", "Liquidation", and finance in general.
https://assets.publishing.service.gov.u ... gov-uk.pdf
As is stated debt in itself is not a reason for refusal especially if you comply with the arrangements to manage the debt.

[prs]

Please refer to the "Good Charancter" guidance and search for "Debt", "Bankruptcy", "Liquidation", and finance in general.
https://assets.publishing.service.gov.u ... gov-uk.pdf
As is stated debt in itself is not a reason for refusal especially if you comply with the arrangements to manage the debt.

Bankruptcy and being a director of a Company in liquidation are both treated more seriously in the Good Character policy. This may prevent naturalisation unless the discharge or liquidation was over 10 years ago, or where the order was annulled or it was a foreign bankruptcy.

[prs]

Hello Member...please i have an urgent question as my Naturalisation is due in couple of weeks and i have a business have been running which i am the manager but the business is no longer function due to brexit and covid....and i am owing bank some loans due to this....I have pay part of the loan but realised the debt will keep increasing the only way out is to liquidate the company as advised by my accountant.My question now is will this affect my naturalisation application or not?
Thanks a lot and merry Xmas in advance everyone.

where the person was made bankrupt or their company went into liquidation through little or no fault of their own, the application will not normally be refused. For example, they may have simply been a victim of the poor business decisions of others or their business has been severely affected by an economic downturn.


If you can prove that the liquidation was due to COVID and Global pandemic then it should not effect your application.

[cruze24]

Thanks a lot Yes i can prove it as the business was good before the brexit and covid as its e-eCommerce business with amazon .