Doing a runner?

petrafyde

Basically I think you've come here looking for illegal advice from others who've experienced debt at its heights, and have perhaps already run from it.

I'm not condemning you by the way, just stating my opinion how it appears.

If you genuinely want that sort of help, you should go elsewhere. It's easy to bury our heads in the sand and leg it. Done it myself - check my diary (through my other posts).

However, if you are wondering if you don't have to do it - stay here and post a bit more. Just because you got the reaction you did initially doesn't mean people won't help you - because they will. We're all in this together really...all in the same boat, all been idiots and committed to debt we later couldn't afford for whatever reason because we didn't have the foresight to not bother.

3x3 is all well and good, but thats something else to bury our head in the sand about. It'll wait, it'll come later - deal with it then. Doesn't work that way, and if you believed in three fold law you wouldn't really be saying what you did, and thats simply because to believe in it you need to respect it.

Phew! End of my little rant. I hope you've seen the sun finally shining through the crock of crap you're in at the moment. Need not be bad forever, you know. There are other ways out.

boredofbeingathome

I agree with others about clearing what you can, then you will truely be able to start afresh.

I also know that people have posted in the past and have been persued for debt in another country, as petrafyde has pointed out India has strong links with Britain and i know of one company who does persue debts.

http://www.tcmgroup.com/index.php?action=load_data_office

Whether it would be worth their while to persue yours is a risk you would have to take. if it was me personally and i had the money, i would certainly want a life where i knew i had done my upmost to pay off what i could.

petrafyde

Well the international debt collecting agencies thing is true. I know they exist, but never tried them out

Trouble is Anjuna, it becomes more than 'just debt' when you run away like that - you commit crimes too. I daresay it IS possible you could be arrested upon return to Britain if its elevated to more. Granted it wouldn't be a Kray arrest, but an arrest is an arrest isn't it. I'm damn sure they wouldn't let you stay at a friends overnight then go back the next morning to answer 'questions'.

It's all a bit deep and scary, are you really sure you want to do this?

Anjuna

boredofbeingathome wrote: »

i would certainly want a life where i knew i had done my upmost to pay off what i could.

So would I, but is this realistic given my circumstances?

I am the one who always pays my bills on time (by DD)
I HATE to owe anyone money
BUT take comfort in the fact that the secured loan company were basically 'vultures' praying on the cash-poor but asset-sufficient. The secured loan company's business model relied on HPI and when that stopped and began to reverse, they panicked and increased my monthly payments. Am I soley to blame for taking out this loan, or does the bank need to bare some responsibility for supplying it to me?

I'm not trying to 'shirk' my responsibilities now, BUT if a company agreed a loan with a property as the security for that loan, and you gave them the property back, does that not then mitigate your personal responsibility?

I'm not trying to dodge my obligations, only to make sense of them!

A"

Anjuna

petrafyde wrote: »

Trouble is Anjuna, it becomes more than 'just debt' when you run away like that - you commit crimes too. I daresay it IS possible you could be arrested upon return to Britain

Arrested on what grounds? Facts work for me! I am not interested in those who think I should be locked up by virtue of my debts/failed investments. I am intesested in the facts. What grounds could I be arrested on?

A*

boredofbeingathome

Anjuna wrote: »

So would I, but is this realistic given my circumstances?

I am the one who always pays my bills on time (by DD)
I HATE to owe anyone money
BUT take comfort in the fact that the secured loan company were basically 'vultures' praying on the cash-poor but asset-sufficient. The secured loan company's business model relied on HPI and when that stopped and began to reverse, they panicked and increased my monthly payments. Am I soley to blame for taking out this loan, or does the bank need to bare some responsibility for supplying it to me?

I'm not trying to 'shirk' my responsibilities now, BUT if a company agreed a loan with a property as the security for that loan, and you gave them the property back, does that not then mitigate your personal responsibility?

I'm not trying to dodge my obligations, only to make sense of them!

A"

I see where you are coming from, however the obligation part comes with added interest costs etc. Ask anyone who has voluntarily handed keys back, only to find house has been sold for a lower value, then company has persued for remainder of loan, plus fees.In an ideal world, handing keys back would be the end of it..sadly it is not.

Another little bit of info, an ex husband of a friend of mine was persued for 64k of debt in Australia, he then moved to Florida and they arrested him at work, shackled and handcuffed him..marched him to court and assets were seized and sold. He was a bit of a wide boy, i have to say and it took a few years to catch up with him...but when they did the sh*t well and truely hit the fan. He also had property in the UK and in the countries where he worked and was on a good salary.He could more than afford his debt.

I hope you can get a handle on your situation and make the decision which can both satisfy your obligations and let you lead the life you wish.

border_collie

Do not feed the....................

GettingThingsDone

Hi Anjuna and welcome to DFW!

I think you're looking at this upside down (or there's something you're not telling us). Why make life hard for yourself? Unless you have to, why do you need to pay off everything now?

You're actually in a really good position and I'm not being sarcastic - you've lied a bit (I assume) to borrow some money, invested it, and won. You doubled your money!! You are effectively Debt Free as I assume you've paid off all of your debts as you've stated. (Let's ignore mortgage debt for now - read MFW sticky by Martin)

Are you having problems with the repayments or something? Why not bring back £50K and stick it in a savings account and use the interest from that to help pay your loans. Or pay off part of the 2nd loan to help lower the payments - negotiate a special rate as they'll probably be so surprised to see the money back. Or hang-fire, and see what happens in the UK economy - maybe there will be some investment opportunities that suit you?

Another question - I assume you get paid interest on your funds in India? Can you transfer these back to the UK to pay your loans?

I can see the attraction of the green Indian grass, but instead of being a woman on-the-run, always looking over your shoulder for the rest of your life, why not celebrate and see yourself as a successful investor? You're technically/legally in negative equity, but in £ terms - you're doing really well. You should be congratulating yourself for your shrewd move in the Indian property market.

I can imagine the temptation to see that £190,000 as cool hard cash, all ready and waiting for you, but think of it as a business - that money isn't all profit, you owe £95,000, so you still have a pile of £95,000. Mentally subtract the £95,000. You have £95,000 sitting in an Indian bank account that is all yours! Fantastic! I wish I could say the same!! I have a friend who has a similar situation, so he just uses a foreign Visa credit card and spends money through that. Can you 'offshore' the money e.g. transfer it to the Isle of Man etc? Are there other Indian business opportunities you can get involved in?

If, however, there are more problems that you're not telling us about, then feel free to share Post up your SOA and we'll try to help. I know there has been a lot of attention on your morals, but I imagine the only reason you asked in here was because you do have some i.e. you know it is wrong to try and leave your debts behind, otherwise you would have left already!

Good luck and keep posting!

gtd

petrafyde

Anjuna wrote: »

Arrested on what grounds? Facts work for me! I am not interested in those who think I should be locked up by virtue of my debts/failed investments. I am intesested in the facts. What grounds could I be arrested on?

A*

You've come to a forum where normal people who don't understand how to deal with their debt, or need support dealing with it come. If we were old sages with experience of fleeing from debt, we wouldn't be here in the first place I don't reckon

If it is purely legal information you're interested in, you should maybe contact CAB or another trustworthy Debt organisation who would know the real answers. I reckon the excerpt from BOBAH has answered your question in about as much detail as any other one of us - probably more.

To summarise, all we know really is about the strong ties India and GB have and the fact that international DCA's do exist. What crimes you would be arrested for I don't know? I suggested it was possible, that was all.

boredofbeingathome wrote: »

Another little bit of info, an ex husband of a friend of mine was persued for 64k of debt in Australia, he then moved to Florida and they arrested him at work, shackled and handcuffed him..marched him to court and assets were seized and sold. He was a bit of a wide boy, i have to say and it took a few years to catch up with him...but when they did the sh*t well and truely hit the fan. He also had property in the UK and in the countries where he worked and was on a good salary.He could more than afford his debt.

McKneff

I'm more and more thinking that this is a troll. In two of her later posts
she said 'honey' it didnt seem to sit right with me somehow, did anyone else notice?