Left UK with 8000 pounds of debt, what's the best way to start clearing it from here?

delboypass

If you claim bankrupcy all your assets will be taken into consideration (including house in Canada).
Im also surprised that you believe because your in Canada and not the UK you have 'escaped' you debts. Most the banks there are probably run by banks from the UK/America anyway.
Im not sure what would happen though if you emigrated to Canada without paying your debts in the UK. Dont know if you can be ejected from the country as you are meant to declare your debts before entering the country...

BrokeBrokeBroke

I'm a Canadian citizen so not sure how they could eject me, maybe I'm wrong!
If I wasn't to declare bankruptcy, would any of them have any claim over property over here?

BrokeBrokeBroke

laudo wrote:

Many people will slate me for this, but however here goes;

1) Have anyone been in touch?
Nope, because they don't know where I am!!! yet, which is why I'm scared, I've never given any of them my address here, so I was wondering how far they would go in trying to trace me.

Just so you know, my banking/mortgage here is with a credit union, so I'm pretty sure non of the UK banks could trace.

QUOTE]

laudo

BrokeBrokeBroke wrote:

laudo wrote:

Many people will slate me for this, but however here goes;

1) Have anyone been in touch?
Nope, because they don't know where I am!!! yet, which is why I'm scared, I've never given any of them my address here, so I was wondering how far they would go in trying to trace me.

Just so you know, my banking/mortgage here is with a credit union, so I'm pretty sure non of the UK banks could trace.

QUOTE]

Just dont worry about it and let it run its course, 6 years.

delboypass

Yes just defraud the UK.
Is that what you saying Laudo?

Sure you signed a disclaimer at the bottom of any credit agreement that you will update the named company with any change of details.

I dont personally want to comment on any threads where criminal activities might be taking place. This forum was to help people in Debt to get out of debt.

BrokeBrokeBroke

So maybe I didn't phrase my questions properly. I don't really want to get out of paying, but how much info do I need to tell them if I try and negotiate a final settlement or come to some arrangement with them? What I was asking originally was, could they (UK creditors) have any kind of potential claim on my earnings here/my house (mortgaged). If they can, then I possibly would try to let them know as little as possible.

Mister.G_3

daveboy wrote:

If you ever fancy being over taxed then feel free to return.

So so true!! How our fantastic leaders manage to squander all the tax we pay them is quite beyond me!! O yeah, i remember now - it's through Quango job posts, needless beaurocrats and 'jobs for the boys'!!

Temporary disruption over, normal service may be resumed

ceegee

BrokeBrokeBroke wrote:

What I was asking originally was, could they (UK creditors) have any kind of potential claim on my earnings here/my house (mortgaged).

I'm probably being a bit dim (:rolleyes:), but how else would you be able to repay the debt? Do you have any savings :question:

(Genuine post...sorry if it sounds a bit dim!)

James240

Mister G: Quango jobs!?!?!?!? im baffled.......lol :rolleyes:

Debt_Free_Chick

BrokeBrokeBroke wrote:

So maybe I didn't phrase my questions properly. I don't really want to get out of paying, but how much info do I need to tell them if I try and negotiate a final settlement or come to some arrangement with them? What I was asking originally was, could they (UK creditors) have any kind of potential claim on my earnings here/my house (mortgaged). If they can, then I possibly would try to let them know as little as possible.

hmmmm .... I wonder if we're all a little confused ....?

At the moment, you have no dialogue at all with your creditors. If you can repay, by instalments, then do a budget and show how much you have to pay in total. If you can pay the minimum repayments or more, then great - just go ahead and do it. Pay them each an amount every month, though before you do that, you might want to write and explain your change in circumstances (move back to Canada) apologise for not being in touch and then ask each of them for a current statement. Check that you can meet the minimum payments (pay more if you can) and off you go.

If you cannot meet the minimum payments, then pro-rata the total of what you can afford amongst each creditor. Write a letter telling them that you cannot afford to meet the minimum payments, but offer them the pro-rata amount. Enclose your budget so they can see what you can afford -ask them to freeze the interest to help you pay off the debt more quickly. They are under no obligation to do so - some may, others won't and that that will may take months of asking!

With either option, you need to think about how you're going to pay. Do you still have a UK bank account? If not, you'll need to investigate how to make a regular monthly payment to the UK - and you're bound to pay some charges for doing this

A full & final only works if you have a lump sum. Again, you pro-rata the lump sum and offer a proportionate amount to each creditor. However, full & finals are normally only accepted if you have defaulted on the accounts. I expect you have, but you need to get your UK credit reports from Experian & Equifax.

None of the above involves the creditors in taking any action against you. If you contact them with an offer to repay by instalments, they are unlikely to file for your bankruptcy - it's too expensive for them and they are unlikely to get full settlement for the debts. They may play tough and threaten you with County Court action (CCJ) ... but if they do, the Court will consider an offer from you to pay by instalments - so your creditors are back to square one!

In short, if these are normal unsecured debts, then the creditors have no claim on your house or other assets. They woul have to go to through bankruptcy for that - and I really think it's unlikely.

If you go back to my first post .... did you complete the self-help pack? All of this is explained very clearly in that. If you haven't done so, it would be best for you do that - please