emmigration and skipping debts

codyne108

can anyone help me?
i read that if u emigrate to australia/new zealand you could theoretically leave your credit card debts behind and that debts acrued in uk would not affect ur oz credit rating.

also if the debt was sold to a oz debt agency ,that they must accept a token offer of repayment .

im emigrating soon and want to know if this is true as i would be quite tempted.

the debt is only £4000 but ive probably paid that in minimum payment interest over the 15 year of the debt so i wouldnt feel too guilty.

can anyone help

Deep_In_Debt

Not sure but if you come back they may catch up with you though.

BeautyandtheBeast_3

No idea. you going to oz to live forever??

codyne108

yes forever i hope

rog2

You could, indeed 'leave your UK debts behind you', codyne.
This may not be the most sensible approach to 'dealing with your debts' and definitely not an approach that this forum would condone.
However there is no 'reciprocal' agreement on consumer debts between the UK and Australia, so no UK creditor could 'enforce' any UK agreement if, and whilst, you are resident in Australia.
Equally, should a creditor obtain a CCJ in your absence, that CCJ would have no legality in Australia.
If a UK 'debt' is passed on to a debt collection agency, for 'collection' at your address in Australia, any 'debt collector' who calls at your house would have no rights other than to ask if you 'wish' to make any payment towards that 'debt' - they can not enforce it through the Australian Courts System.
Nor can a 'default' on a UK debt be registered on an Australian Credit Reference Agency file.

That said, Debt Collectors throughout the world have a knack of making life pretty dammed difficult for a debtor, even when they know that they can legally do nothing.

Is there no way that you could put a 'closure' on the debt before leaving the UK - perhaps a 'Full and Final Settlement Offer' ?

McKneff

'there have been threads like this before and i wouldnt be too sure about
them not catching up with you or being able to get credit in oz.

I hope thats the case anyway.

rockabilly_rebel

If you still owe money to UK creditors, if you cannot be contacted, located or traced for 5 years or more then they close the file and consider the debt written off. However, this proves to be extremely difficult, even when your abroad your not always untouchable

McKneff

rockabilly_rebel wrote: »

If you still owe money to UK creditors, if you cannot be contacted, located or traced for 5 years or more then they close the file and consider the debt written off. However, this proves to be extremely difficult, even when your abroad your not always untouchable

The statute barred limit is 6 years, not 5

gargrave50

I understand the point of your request, however morally you owe the money and it would be best to settle this with a F&F rather thank bunk off and abandon it. There are many of us who would like to walk away from our debts, but instead make the long journey to debt freedom. Please consider making some sort of arrangement

Deep_In_Debt

Please also remember that those left behind - family, friends etc may well get hassle from the creditor or DCA in your absence.

Horace

Emigration is not that easy and you need to demonstrate that you can support yourself whilst you are there for the first few months - I think you have to take $10,000 AUS.

If you have only £4K of debt then offer them F&F - £4K is not so great. Running away never solved anything and what's to stop you racking up debt in Oz - they take a dim view of it over there too.