Ignoring creditors?

Arfhurdaly

Theoretically, what would happen if you just ignored letters/phonecalls from creditors?
I presume the odd one will try for a ccj, but others will just go from one dca to another, eating up the 6yr statute-barring period.

Any thoughts?

immoral_angeluk

Worst case scenario? Bailiffs, or they could petition for your bankruptcy. If you own your home they could apply for a charging order, and eventually apply for an order for sale so you are forced to sell your home to repay the debt (although these are rare.) Although they will attempt to trace you and add the cost of all of it, plus more, onto your debt.
Other than that they'll just generally make your life a miserable, stressed, existence.

fermi

Arfhurdaly wrote: »

Theoretically, what would happen if you just ignored letters/phonecalls from creditors?
I presume the odd one will try for a ccj, but others will just go from one dca to another, eating up the 6yr statute-barring period.

Maybe? Maybe not?

It very much depends on the creditor, the DCA(s), whether you have any property/assets, how much the debts are for, what direction the wind is blowing........ etc.

You haven't provided any information that would allow us to make a better guess. Saying that, all guesses are just that, and could be wrong.

The one thing for certain is that burying your head in the sand is not usually the best way to go. Painful as it may be, confronting the problem is normally wisest.

Arfhurdaly

5 unsecured creditors, all at DCA stage, in a rental property.

What's to stop me from just moving to another property/overseas, and wait for statute barring? Is it a criminal or civil case to do so?

hullight

If you move within the UK they will attempt to trace you, so you would need to keep really low for six years. Anything that involves a credit check, or voting in elections, or getting a mortgage will flag you up. If they do get CCJs it would restrict your available career choices too.

If you move abroad, some countries have reciprocal agreements with the UK to enforce debts abroad. Canada or Germany would be a no go for instance.

And LASTLY if you went away for six years, a creditor might have obtained a CCJ and applied to the court to enforce it again on your return and you would be back to square one.

Get down to CAB/CCCS etc. and deal with your debts - it's the best thing for you, your creditors and everyone else (who do you think is going to pay for your sofa/car/whatever you bought).

mr.ton

Arfhurdaly wrote: »

Theoretically, what would happen if you just ignored letters/phonecalls from creditors?
I presume the odd one will try for a ccj, but others will just go from one dca to another, eating up the 6yr statute-barring period.

Any thoughts?

There is a huge myth surrounding this in my view..
Most (not all) wont do anything at all other than pass the debt around the DCA industry like pass the parcel until it either eventually becomes stat barred or simply gets "lost in the system" so to speak...
Most people dont realize that it costs money to take someone to court & thats why very few creditors/DCA's go anywhere near the places and just like to rely on threats & intimidation.

scouselad1974

This popped up on another thread earlier in the week and it made me wonder about my neighbours who have upped and left behind a massive amount of debt.
Surely it would be far easier to make yourself bankrupt, at least that way all of your debts are then cleared and you are free to live again, without constantly looking over your shoulder.

Arfhurdaly

Mozette wrote: »

Is self respect an issue with you?

Well I tried to sort out one debt by an F&F. Thought I was making headway. Then it went to another DCA, and the process started again. So I think it just goes around in circles.
I too think its a myth that each creditor enforcers in court. So therefore you could ignore some until statute-barred.

Tixy

In reality some may not go to court within the 6years, but equally some are likely to. And of course some might choose to take you to court after 5.5years thus extending how long you legally have to pay the debt for. Especially if they think you are out of the country.

Of course the balance of the account will affect the likelihood of it going to a CCJ but some creditors will go for a very small amount (even less than a couple of hundred).

By the way - I think the F&F letters you have sent will have been an admittance that you owe the debt so you will have just reset the 6year clock again.