Need to Stop Paying my Credit Cards in the UK - Will I get away with it ?

[Guest Guest16631]

............I do feel the fact that the OP has started this thread...........shows indecision..............often it is all too easy to do the wrong thing..............shrug off responsibility for a poor decision.............but we are all human with a conscience...............and by asking for opinions and thoughts on his plight..........shows imo..............just a need for guidance and help with making the right decision............

[Guest kianobeano]

WOW, such malice, and a hell of alot of assumptions in some of those replies, hope it all stays rosy financially for you all !!!

Good luck Scotin oz, I hope you find your way out of your mess.

 

jen

[The Yuills]

No malice or nastiness intended in this reply......When we came 3 years ago..we sold our house, which we had worked hard to have, and paid all our debts leaving under 20GBP to get to OZ, including shipping and flights and then set up here. That is why after 3 years we are still renting and hubby works away. We could have taken the easy route and not paid the debt (we knew we would never be returning to OZ even then) but regardless of getting chased in OZ, we could not do it. So we paid and we came. You are lucky to have the equity in your house and we would love to be in the position of having a house to fall back on. You would still have about 20GBP to set up over here..and no worries about "people catching up with you" .

[Guest liverpoolollie]

i would say work out a payment plan with the companies involved,even if you only pay them a tenner a month ,at least you are paying them back.

just remember ,they were good enough letting you spend their money to fund your lifestyle in the first place ,so at least offer to pay some back.

 

and try to get out of the habit of living beyond your means in aus too or you will end up in trouble there too and then where do you go?

 

good luck with it.

[Mrs WebWeazel]

Scot, I am not going to pass judgement , but just a pragmatic view. You've got more equity in your UK home than you owe money. The simplest avenue would be to sell the house (which you aren't living in), get the equity out and settle the debt. That way you'll avoid all the potential angst created by having creditors trying to recover their money (and I guess £40K, however it is divided up would be an amount worth the effort for the CC companies) because heck, you will never get that time back for all the money in the world. Is it really worth it?

 

Settle it then you may be £40K poorer, but you will have bought peace of mind and the security of being able to live in whichever country you choose. A bargain even at twice the price!!!

 

Mrs W

[Stovies]

A clear conscience is priceless. Do the right thing OP. Otherwise, it WILL come back to bite you on the bum.

[Guest coldtootsies]

have u heard of snowballing?

 

u pay minimum amount off each cc every month but every month just put a little more on the cc with the smallest balance outstanding... do this until that credit card is paid off and the use the money that u were spending on that creadit card to add to the minimum amount on the second smallest cc..... it is slow going but such a managable way of doing it and thenu will still have ur home as equity in the future...

 

example:

credit card a pay £25

credit card B pay £25

Credit card C pay £25 PLUS an extra £10

[Guest liverpoolollie]

scotin oz.

 

it seems from your posts that you have already decided what you want to do, i.e you are only worried about what will happen to your house.

 

maybe your post should have asked ....what will happen to my house if i do not pay my c cards.

 

we cannot judge you mate(and neither should we).but just advise you.hopefully from peoples own experiences you can make a balanced judgement on where to go next.

 

good luck.

[Guest haunted1234]

:yes:sell your house, pay off your debt, have a few bob in the bank for a rainy day, :SLEEP:sleep at night, go to heaven :angel_happy_face_ha

 

or you may find when you do visit home, you'll have someone waiting for you :policeman:

[Guest ScotinOz]

Guys - Thanks for the responses and comments. I do know what the right thing to do is ( from the book of bloody obvious) but we all have different circumstances and I've kept mine vauge to hide my identity and it's not as simple as everyone outlines.

 

Thing is that I've had 4 PM's since posting with 4 families in EXACTLY the same position as me and with the same thoughts but are not willing to post for fear of being shot down as I have.

 

Thank you for the PM's and keen to hear from any other people who are struggling as we are. PM's welcome

 

Scot

[WeegieDave]

Guys - Thanks for the responses and comments. I do know what the right thing to do is ( from the book of bloody obvious) but we all have different circumstances and I've kept mine vauge to hide my identity and it's not as simple as everyone outlines.

 

Thing is that I've had 4 PM's since posting with 4 families in EXACTLY the same position as me and with the same thoughts but are not willing to post for fear of being shot down as I have.

 

Thank you for the PM's and keen to hear from any other people who are struggling as we are. PM's welcome

 

Scot

 

Just because you have had some PM's from like minded people doesn't make it any better. Seems you are trying to find some justification in yput actions by encouraging contact from people who also want to steal from a bank in an attempt to find some justification of your actions and shirk off the responsibility. It seems you know what your going to do and you had better hope your time in aus doesn't come to an unexpected end.

 

David (sitting on his high horse)

[Guest amaris]

As I've already stated, yes you can be made bankrupt even if you do not reside in the UK as long as your debts are based in the UK.

If you are made bankrupt you do not need to return to the UK for the proceedings, however the Official Receiver will be in contact with you to have you complete the forms they need completed.

Being inside the UK or outside the UK the bankruptcy process is still the same, after 12 months you can receive a discharge and the bankruptcy is over. Therefore YES your UK assets WILL come in to play

 

I haven't read the whole thread but I'm aware of people who have gone bankrupt over 6 years ago and are now being chased. Not sure if there are new rules (uk residents).

 

Uk assets definitely come into force. We're moving with assets and debt and will be paying our debt. We have been careful as to how much we have taken out though and aren't on a 457 but a pr visa.

 

Sorry, no advise or judgement

[WeegieDave]

Just because you have had some PM's from like minded people doesn't make it any better. Seems you are trying to find some justification in yput actions by encouraging contact from people who also want to steal from a bank in an attempt to find some justification of your actions and shirk off the responsibility. It seems you know what your going to do and you had better hope your time in aus doesn't come to an unexpected end.

 

David (sitting on his high horse)

 

Apologies for my bad grammar and slightly slurred paragraph. Just finished 2/3 rd's of a bottle of sailor jerry's rum. I better slow down or I will fall off my high horse

[Guest liverpoolollie]

Apologies for my bad grammar and slightly slurred paragraph. Just finished 2/3 rd's of a bottle of sailor jerry's rum. I better slow down or I will fall off my high horse

 

hope people do not judge you as a drunk weegiedave ,just as scotinoz seems to be judged as a master criminal.:wink:

Edited March 18, 2012 by liverpoolollie

[WeegieDave]

hope people do not judge you as a drunk weegiedave ,just as scotinoz seems to be judged as a master criminal.

 

I'll sleep tonight as a drunk but wouldn't sleep tonight knowing I had stole 40 k from the bank. Would rather wake up with a hangover at my door than a debt collector!

[amibovered]

I haven't read the whole thread but I'm aware of people who have gone bankrupt over 6 years ago and are now being chased. Not sure if there are new rules (uk residents).

 

Uk assets definitely come into force. We're moving with assets and debt and will be paying our debt. We have been careful as to how much we have taken out though and aren't on a 457 but a pr visa.

 

Sorry, no advise or judgement

 

In the interests of accuracy I have to point out that creditors are required by law not to contact you regarding your debt once your bankruptcy has come into effect.

[Guest liverpoolollie]

I'll sleep tonight as a drunk but wouldn't sleep tonight knowing I had stole 40 k from the bank. Would rather wake up with a hangover at my door than a debt collector!

 

haha fair enough .

 

enjoy it mate.(not the hangover):wink:

[WeegieDave]

haha fair enough .

 

enjoy it mate.(not the hangover):wink:

 

Cheers Ollie,

 

It's good at the time but I will regret it in the morning

[Tea4two]

............I do feel the fact that the OP has started this thread...........shows indecision..............often it is all too easy to do the wrong thing..............shrug off responsibility for a poor decision.............but we are all human with a conscience...............and by asking for opinions and thoughts on his plight..........shows imo..............just a need for guidance and help with making the right decision............

 

I know what you mean....but I disagree. If the OP was on here saying 'I have sleepless nights, i've made bad decisons and now we are just distraught' I would feel similar to you. But I feel the OP was merely asking for someone to say 'yes you can do that and get away with it'. I think if someone said that who was 100% qualified and the OP could take their word for it, there would be no dilemma. They would ditch the debt and run! No malice intended at all but we all have money problems (well most of us lol) and some hard decisions need to be made. I don't see a dilemma here when you have the money to cover it. And I agree with others...the terrible mentality of some in the Uk who want something for nothing...in this case 40K!!!!

[Tea4two]

Guys - Thanks for the responses and comments. I do know what the right thing to do is ( from the book of bloody obvious) but we all have different circumstances and I've kept mine vauge to hide my identity and it's not as simple as everyone outlines.

 

Thing is that I've had 4 PM's since posting with 4 families in EXACTLY the same position as me and with the same thoughts but are not willing to post for fear of being shot down as I have.

 

 

 

Thank you for the PM's and keen to hear from any other people who are struggling as we are. PM's welcome

 

Scot

 

Aw you know what Scot - I get this. I really do. Everyone wants the best life possible for their family which can sometimes (sadly) mean having more money. And when you have built up money in a house it is heartbraking to lose it. We have used equity from our house to get over here and we struggle (for now until I find perm work) on a daily basis here. And I totally believe you when you say there are others out there in the same boat but the difference here for me is that you gave two facts...1. you spent 40K and 2. you have 60K equity in a house. Therefore I don't feel that your situation is like someone else who is tearing their hair out and can see no way out and decide to go bankrupt etc...you have money. And therefore it's simple and it comes down to choice and character.

[Guest littlesarah]

For the record, I wasn't insinuating that Scot, or anyone in a similar position is a criminal, and certainly not a 'master criminal'. (A criminal mastermind is hardly likely to need to ask advice about how to avoid any unpleasant consequences of committing their crime of choice.) As for the moral aspects, there may well be aspects to this story that none of us are privvy to, so anyone can only comment on the information that has been made available. And I understand that Scot may not wish to post the full story on the internet.

 

In my view, we should all be very careful how much personal debt we take on, especially if it involves credit cards, because it can mean that we end up paying several times more for the things we buy than they were ever worth; and with the added risk that if we lose our job or become ill, or have some other emergency, we end up in a horrid situation which is stressful and difficult to resolve.

 

I hope I didn't come across as judgmental, I'm intelligent enough to understand that most people don't set out to borrow more money than they could ever repay; but I'm also sensible enough to see that some people find the lure of more 'stuff' too enticing to pass up. I do think that lenders should be more responsible, but I think that consumers also need to see beyond the 'want' and examine how to obtain what they're after for no more than it's worth, and if it's not possible to do so, consider whether it's really vital.

Edited March 18, 2012 by littlesarah

[AJ]

If someone does decide to do this, knowing full well it is stealing they are no better than a criminal. Everyone is quick to slate the banks and everyone else who steals, but to some this is ok? I dont think so!

 

If OP had been committing benefit fraud for the last few years to support his familly would he still be getting comments like no one knows your circumstances, its up to you etc - just the same - stealing. Why drag your family halfway round the world when you are already in this much debt, were they really running away to start with? If you cant afford things dont have them and they wouldnt be in 40000 debt! Bet they all have Iphones, computers, a few big tellys, expensive car, designer gear though.

 

 

Deserves no sympathy

Edited March 18, 2012 by AJ

[Guest Bazinga]

1. Have a look at money saving expert for some advice re paying off your debt. Sure they don't recommend just paying the minimum.

 

2. Suck it up and sell the goddamn house. YOU borrowed money. You CAN afford to pay it off. You are choosing NOT to. Totally wrong in my opinion. Both morally and of course legally!

[karlom]

I cannot believe someone would even ask such a question. How could someone recklessly clock up that level of debt and then want to walk away from it?

[Guest Andy]

Folks we added to our debt over here because we had to !

 

Anyone wamts to share their experiences without being shot down ... pls send me a PM.

 

Scot

 

 

Hi Scot,

 

 

Just wondering why you had to add to your debt, from your previous post's it appears that it was to pay for school fees, surly you new before you left Britain that you would not be able to afford the move as you would seemingly be financing it on credit it does seem that as others have said that you could not afford to go to Australia in the first place.

As you have also stated you know what the right thing to do is which clearly is to sell your property and pay off the debt which you could easily do, however i get the feeling you will not be doing that as clearly you do not see the debt as your problem or fault but that of the greedy bankers, anyway i would suspect that if you do clear off and not pay then others who do pay their debts will be paying more to off set those who sod off, if you are happy with that then i feel sorry for you.