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Bankruptcy is likely to affect further visa applications. You should not bury your head in the sand. You should contact the debt collectors to discuss your financial situation and try to come to some payment arrangements with them. This is the best possible way of alleviating any adverse effect to any further visa application. UK visa application fees are very expensive if you are barely making enough to fulfil your basic needs how do you expect to pay for your visa extension - this may be the view the debt collectors may take.
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