Leaving the country with debt??

bucks_stasher

OK, so I've just heard on another forum a story that I'm not sure whether to believe or not. MSE's; can you help??!

The story goes as follows:

A man with around £50K of credit card debt called up his creditors on the day he was leaving the UK, told them he was going to Ghana for four months and asked that they cancelled the debts he had with them. He quoted Clause 3a of the International Banking Code, and all the debt was wiped.

Now, I've searched this site and Google for the International Banking Code, and clause 3a, and found nothing.

Also, the guy said that this clause was well-known on this website.

Anyone help??!

cattie

We've all now left the country I'm afraid. :rotfl::rotfl::rotfl::rotfl::rotfl:

Xaviera

What is the International banking code???

There's the 7 year thing, whereby if they can't contact you for 7 years then debts are wiped but I don't think creditors would just say 'oh ok, enjoy your time abroad don't worry about paying us'.

R0bert_Sterling

bucks_stasher wrote: »

Also, the guy said that this clause was well-known on this website.

The clause he is referring to is Santa Clause, he appears once a year if you have been good (so put those naughty thoughts of stealing money out of your head)

bucks_stasher

I thought so.

Thanks, guys! :beer:

PROLIANT

Yes, load of rubbish.

inmypocketnottheirs

Xaviera wrote: »

What is the International banking code???

There's the 7 year thing, whereby if they can't contact you for 7 years then debts are wiped but I don't think creditors would just say 'oh ok, enjoy your time abroad don't worry about paying us'.

I think you are referring to Statute of Limitations, which is actually 6 years. Plus, debts are not wiped, they are not enforceable through the court, unless the debt relates to property, then it is 12 years.