£10'000 debt on CC, abroad and can't repay. My options?

ace_hi

Hi,
I have been searching the forum for help with my debt, and found much helpful information but I'm still not entirely sure as to what to do. First of all I am unspeakably ashamed of my inability to repay the money I have borrowed...
My case is as follows: Over the years I have accumulated a debt of £10'000 on my HSBC credit card. I also had a personal loan running simultaneously for 3 years, which I repaid in full a year ago. I never ever missed a repayment neither on the credit card nor the loan.
I am now out of work as of beginning of last month, and I moved abroad anticipating better prospects for my future overseas. As yet, I still haven't got a job, and even when I will have one, it will not be possible for me to make even the minimum monthly repayments.
My credit card has now reached its limit, I have transferred whatever little money I had left on my current account to my overseas account and it'll hopefully last until I find work.
This debt of £10'000 is just hanging there, and next month I won't be able to make a payment towards the debt.
Right now I have a few options in my head, perhaps someone out there could tell me what's most feasible in my case.

File for bankruptcy?
Tell bank I can't pay and see what they say?
Tell bank nothing and not pay?

Some additional info; I do not intent do return to the UK in the foreseeable future (few years); I do not mind having bad credit for the next 6 years (as right now I feel like I will never in my life borrow again); I have no assets or properties whatsoever (anywhere); I (obviously) do not live at the address registered with the bank anymore.
It would be morally wrong to "do a runner", and as said before, I have always been on time with all of my repayments, but in my last desperation to be rid of this debt that cast its shadow on my everyday life has made me consider it as an option.
Thank you for your help in advance.

Asiacat

The creditor's ability to force payment will depend on which country you are resident. Some have a reciprocal agreement with the UK regarding such matters and others do not.

If you stay abroad for 6 years or more there is a chance that the debt may become statute barred, however for a debt of 10k the creditor will almost certainly apply for and receive a CCJ in your absence.

You can give them your address details and offer them token payments until your situation improves. They can't take from you what you don't have and no property in the UK they can't then use the CCJ to obtain a charging order.

If you do nothing it is likely they will try to trace you contacting ex neighbours and relatives in the UK, googling your name, email address, contact number checking any facebook id you may have.

In short in today's digitally connected society they are likely to find you. However when they do that they can still only take what you can afford.

If you ignore them you will have this matter hanging over you until you can pay it off(if a CCJ is obtained.). If you stay abroad permEnantly it may not affect you too much however it will resurface if and when you do return to the UK.

ace_hi

Thanks for your reply. I understand that a CCJ is almost worthless and cannot be enforced if I am abroad at the time? (And I own nothing of value that could be taken from me)
Also, how likely is it that they will track me down down under, or sell my debt out to a local DCA? If that were the case, what powers would they have to force you to pay UK debt?
I also looked at going bankrupt from abroad with the help of one of these websites, but in another thread on this forum I read there was almost no point in going bankrupt if I had no intention to return to the UK at least for a few years.
Could anyone please advise what my best option would be? Bankruptcy, ignorance?

Oneday77

A CCJ has no time limit. So if you lender gets one against you and if you ever return to the UK it will be enforceable. So the foreseeable future your fin but you may be back here in 10-15 years, the debt will haunt you.
Bankruptcy will hang over you for 6 years in the UK, so could be your best option.
You've not stated what country your in but a Local DCA could be appointed if the country your in has an agreement with the UK to allow such practices. As you brought up the moral aspect, what do you think is he best thing to do? Contact he bank and discuss it with them. Depending on your culture, how would 'ignoring it' affect your standing if found out.
I'm not judging, you pay or not I don't care, your the one who needs to make he decision.

ace_hi

You're right, I think I've made my mind up, I'll speak to my bank and try to sort out lose ends. I will post what they have said. Thanks again!