what happens if I don't pay credit cards and loans etc?

dadanagast

hi. i have too much debt (credit cards and loans.. around 25k) which i won't be able to pay. I won't have a job because I want to live in a different country. I can't afford to live in UK anymore.
what could happen?
thank you in advance.

dadanagast

I tried to search the forum but couldn't find any info. thank you.

Tixy

What could happen in the UK is that you would be issued with default notices for your debts, you creditors could take court action to obtain county court judgements against you and any creditor to whom you owe more than £750 could apply to make you bankrupt.

If you have any assets in the UK then these would be at risk, either if a creditor obtained a CCJ and then used a bailiff to try to enforce the debt, or if you were made bankrupt.

Whether the debts can be enforced against you in the new country you plan to live in would depend on which country that was.

If you are struggling with your debts then you would be better advised contacting one of the debt advice charities for some help and advice on the options available to you.

dadanagast

I plan to move to turkey.
I don't have any assets in the UK..:( I just want to leave and start a new life.

Tixy

Talk to one of the debt advice charities. IMPORTANT - Where to seek professional impartial advice about your debts.
If you are struggling to repay they can either help you negotiate reduced payments to your creditors or advise you on other options such as considering bankruptcy.

dadanagast

what is the worst case scenario?..:( for example, if I don't talk to anybody and just leave the country, what can they do?
if these are stupid questions, please forgive me.. I just want to learn what can happen..:/

marleyboy

If you're asking "Will I get away with it?" the blunt and to the point answer is NO!

thriftylass

You got into the debt. Where would it lead if everybody just pretended they didn't spend the money and ran away. I don't think you can hide from this. Be sensible and contact a debt advice charity as above suggested.

Gordon_Hose

*sniff* *sniff*

I smell something...

dadanagast

thank you guys.. i will contact the debt advice charity..

agrinnall

A worst case scenario is that someone you owe money to tracks you down in Turkey and hires some unpleasant locals to remove several of your vital organs.