Left the UK with bad debt?

[carpetbelly]

Don't get me wrong, I totally think it's wrong and will also be looking at getting in touch with who I can. At the time I just couldn't pay personally. I was so stressed and going through a rather nasty break up. Life eh. Always fun

 

I'm happy to provide info to for info's sake. Not for me to judge as everyone has their reasons. Also with the bailouts the banks have been getting and not helping anyone either I do think they also make a rod for their own backs and don't help out much. They're happy to just sell on debt a lot of the time to ease their balance sheets as that and anything collected is actually written straight down as profit on their balance sheets. So the more they can sell on quickly at times can make them look very good on the bottom line.

 

The joys of having always worked for banks and knowing this crap.

[Guest bacardi167]

Sorry, we left with a few but only because after repaetedly trying to work out a repayment system, we were told NO. They wanted thier money now. So we said if you cant help us then we cant help you...come get it..

It wasnt a lot...under 15 grand so its noit going to put a bank underr, but i d o understand that a collective amount would cause some concern.

I personally have tried my hardest to pay off what i possibly could, and got no help. I had an IVA and did all that rubbish.

Personally..seeing the profits posted by the banks and financial institutions..i have a clear concience.

 

It was a stress full time and is not totally worry free.but, i've done it and my family are reaping te benifits.

 

IMO

[Guest Bobby]

Didnt know anyone would arrest you over civil debt?plus it dissapears after 6 yrs i think i read on here

 

 

But if you owe money to the tax-man you can be arrested.

[Guest Bobby]

Thankyou for the information and for being so honest

That made me laugh :biglaugh: he leaves the Country owing money.

[Guest Andy]

Sorry, we left with a few but only because after repaetedly trying to work out a repayment system, we were told NO. They wanted thier money now. So we said if you cant help us then we cant help you...come get it..

It wasnt a lot...under 15 grand so its noit going to put a bank underr, but i d o understand that a collective amount would cause some concern.

I personally have tried my hardest to pay off what i possibly could, and got no help. I had an IVA and did all that rubbish.

Personally..seeing the profits posted by the banks and financial institutions..i have a clear concience.

 

It was a stress full time and is not totally worry free.but, i've done it and my family are reaping te benifits.

 

IMO

Yes but the trouble is if we all left the country leaving £15k debt and then said well thats ok because the banks made a shed load of money then that would leave Britain in an even worse state, but then if those people can sleep at night then its ok:no:

[pablo]

But if you owe money to the tax-man you can be arrested.

 

Yeah no doubt,OFFICIAL debt tho,NOT civil debt

[Guest madplumber2]

But if you owe money to the tax-man you can be arrested.

 

Think we just said that:biglaugh:

[Guest Bobby]

Depends on the debt really... As pointed out, government debt can be chased pretty much anywhere and for ongoing period of time.

 

Civil debt, is generally statute barred after 6yrs of non contact. So in reality a bit longer than when you leave it. But debt for mortgages can actually be chased for 12yrs. So if you default and move away that's something to consider should you want to return at some point and think in 6yrs it will be done and dusted with.

 

I personally did it and I'm not proud of it but extenuating circumstances, doesn't everyone have those lol. And I wouldnt ever advise it as generally though it limits your choices down the line and what is life if without all choices and options open to you?

Not true anymore.

If a creditor is to successfully get the debt repaid, they have a period of 6 years from the last time the debt was acknowledged to recover the money using the legal system. If a creditor has taken legal action, the debt will never go away and can be indefinitely recoverable.

Creditors have many tools in order to trace those that owe money and have quite a few tricks up their sleeve in order to trace debtors. They may talk to the neighbours, go to the last known address etc etc. Once a collection agency knows which country the debtor has moved to they can then easily start to try and recover the debt.

Moving abroad to run from your debts? | UK Debt Advice

 

[Guest madplumber2]

Not true anymore.

If a creditor is to successfully get the debt repaid, they have a period of 6 years from the last time the debt was acknowledged to recover the money using the legal system. If a creditor has taken legal action, the debt will never go away and can be indefinitely recoverable.

Creditors have many tools in order to trace those that owe money and have quite a few tricks up their sleeve in order to trace debtors. They may talk to the neighbours, go to the last known address etc etc. Once a collection agency knows which country the debtor has moved to they can then easily start to try and recover the debt.

Moving abroad to run from your debts? | UK Debt Advice

 

 

Wonder if your correct on the last sentense:swoon:

[Guest Bobby]

Wonder if your correct on the last sentense:swoon:

Most will take legal action so the debt will never go away, I would not chance it mate, you would worry for years and years.

 

If a creditor has taken legal action, the debt will never go away and can be indefinitely recoverable. :policeman:

[Guest madplumber2]

Most will take legal action so the debt will never go away, I would not chance it mate, you would worry for years and years.

 

If a creditor has taken legal action, the debt will never go away and can be indefinitely recoverable. :policeman:

 

Mmmmmmmmm wonder if this would actualy happen in practice? Since the UK is tied to the EU Monetery System and Australia is completely separate, could they actualy find you if no form of contact was left in the UK?

[Guest bacardi167]

Yes but the trouble is if we all left the country leaving £15k debt and then said well thats ok because the banks made a shed load of money then that would leave Britain in an even worse state, but then if those people can sleep at night then its ok:no:

Also said mate, i've tried every way possible to pay off and make a payment plan....but the lenders were not interested. Now i dont know your personall circumstances but i do not have 12.5 grand, dont own a house & support 2 kids and a wife on my wage. If you can come up with a solution that does not involve a payment plan, then im interested.? Let me know

Those people who have spare money and house etc may be able to raise it..but i cant..believe me i've tried..and as for leaving england in a worse state so i can sleep at night, stop being so ignorrant....

 

what do you suggest...." oh worthy one

'?

[Guest Bobby]

Mmmmmmmmm wonder if this would actualy happen in practice? Since the UK is tied to the EU Monetery System and Australia is completely separate, could they actualy find you if no form of contact was left in the UK?

 

If they wanted to they could easily find out that you have gone to Australia.

[pablo]

Mmmmmmmmm wonder if this would actualy happen in practice? Since the UK is tied to the EU Monetery System and Australia is completely separate, could they actualy find you if no form of contact was left in the UK?

 

From what ive read on here andy there is NO reciprocal agreement with OZ over civil debt,they might find a debtor in oz but if its NOT legally enforcable does it matter?

[carpetbelly]

Ok, firstly the Uk has no receprical agreement with Aus/Nz so they cannot legally enforce any debt over here even if they do get in touch.

 

Secondly, as for being able to chase you indefinately yes, if legal action has been taken but then there's a point where cost of chasing just isn't worth it and still most places take the 6yrs rule. Especially as I (only believe, I'd need to double check this bit!) think that after 6yrs they would still need to revisit court to enforce anything. Unless that part changed in the change that meant once legal action was taken... I worked in risk, not collections so dont know all the tricks they use hehe.

 

Again, better to face up to anything rather than sticking your ehad in the sand anyway. You feel much better dealing with things rather than not and worrying

[Guest bacardi167]

From what ive read on here andy there is NO reciprocal agreement with OZ over civil debt,they might find a debtor in oz but if its NOT legally enforcable does it matter?

 

of cousr they could. debt agencies would trace were your passport was last used.

 

They then sell the debt to an aussie agency

 

I had 2 mates from uni years ago, skipped to the usa from england. 3 yrs later they got a knock on the door...for 5 grand !!

 

if they want you, the'll find you

[Guest Bobby]

 

quote

What you need to understand: the debt will never go away. Taxes: you can not run from them, make whatever arrangements you can to pay them back. Assets: homes, stocks and other liquid assets will be taken by the creditors if you leave. If you are willing to have that done, so be it. If you have no personal assets that can be taken to repay the debt, no need to worry.

Things you have to be willing to accept: a new life...forever. There is no coming back to stay. If you ever intend on returning to your home country, be prepared for a myriad of problems. A decision to move overseas to deter financial obligations is a permanent decision. Make sure you understand what all that entails before making such a move.

Plus what you owe is probably going up by a big amount year after year.

 

 

[Guest madplumber2]

From what ive read on here andy there is NO reciprocal agreement with OZ over civil debt,they might find a debtor in oz but if its NOT legally enforcable does it matter?

 

Think you could be right on that mate, also the privacy laws in Ausss are very strict, it would prob take court action to give up the relevant details

[Guest Andy]

Also said mate, i've tried every way possible to pay off and make a payment plan....but the lenders were not interested. Now i dont know your personall circumstances but i do not have 12.5 grand, dont own a house & support 2 kids and a wife on my wage. If you can come up with a solution that does not involve a payment plan, then im interested.? Let me know

Those people who have spare money and house etc may be able to raise it..but i cant..believe me i've tried..and as for leaving england in a worse state so i can sleep at night, stop being so ignorrant....

 

what do you suggest...." oh worthy one

'?

I guess if the lenders will not agree to a payment plan then their is little you can do, however i would have thought they would agree to something rather than nothing at all. My point was that if everyone had your attitude and left that kind of debt then imo Britain would be in even more of a mess.

Also i do not think i am being ignorant at all by saying that people should pay off their debts before emmigrating. If you feel i am then fair enough:shocked:

[pablo]

of cousr they could. debt agencies would trace were your passport was last used.

 

They then sell the debt to an aussie agency

 

I had 2 mates from uni years ago, skipped to the usa from england. 3 yrs later they got a knock on the door...for 5 grand !!

 

if they want you, the'll find you

 

Read my post again,i said IF ITS NOT LEGALLY ENFORCABLE what could they do?send letters,send people round your hse,wouldnt matter if its not LEGALLY ENFORCABLE

[Guest madplumber2]

Interesting reading, still it's late and I'm offski, catch you later Pabs, good talkin to you again mate

[pablo]

Interesting reading, still it's late and I'm offski, catch you later Pabs, good talkin to you again mate

 

Catch yer soon andy:wink:

[carpetbelly]

as Pablo has stated, totally not legally enforcable! It's a scare tactic by the aussie dca that's bought your debt for pennies hoping that a letter or a knock at the door will scare people into paying

[pablo]

I guess if the lenders will not agree to a payment plan then their is little you can do, however i would have thought they would agree to something rather than nothing at all. My point was that if everyone had your attitude and left that kind of debt then imo Britain would be in even more of a mess.

Also i do not think i am being ignorant at all by saying that people should pay off their debts before emmigrating. If you feel i am then fair enough:shocked:

 

TBH andy,i think a lot of people wont sympathise with the banks over lost money anymore

The reasons for that could be.....the banks caused this worldwide recession(so im told)with lending they KNEW 100% was dodgy,so if it wasnt for the banks you could say i wouldnt be approx £20 k down on earnings these last 18 months?,i dont think they'l get much sympathy rightly or wrongly?

[Guest Bobby]

Intresting reading, even if they do write off your debt when you go back to the UK after 6 years they can open up the case again and chase you for the money plus huge intrest...have a read.

 

http://www.lewisalexander.com/blog/2010/12/moving-abroad-escape-debt-problems/