Credit Card dets - Moving abroad

ChadClifton

Hi all,

I am moving abroad soon and was wondering what credit cards companys can do if you stop paying them and leave the country. Im not one for not paying off my debts, but the repayements are crippling me and I just wanted to understand what my postition is with these debts. I owe about 7500 grand.

Thanks

ad44downey

Happy Days! Just don't come back ever to the UK and you should be fine. I can't see them extraditing you for a credit card debt.

realaledrinker

Don't worry about it. The rest of us won't mind paying increasing interest rates to cover the bad debts of the likes of yourself.

nomoneytoday

It's fine having a mental age of 12 to avoid your responsibilities..

Karl.H_2

You won't escape! They'll get you in the end. If moving country was that easy to escape debt, everyone will do it. Don't be too sure.

hillendale

ChadClifton wrote: »

Hi all,

I am moving abroad soon and was wondering what credit cards companys can do if you stop paying them and leave the country. Im not one for not paying off my debts, but the repayements are crippling me and I just wanted to understand what my postition is with these debts. I owe about 7500 grand.

Thanks

My advice would be to speak with your c/c company and inform them that you are finding it hard to keep up the repayments and try to come to some arrangement where they will lower the amount of interest they are charging you are lower the overall monthly repayments . Try this 1st before doing a runner .
regards:D

ixwood

Face your problems. is 7.5k that much in the grand sceme of things?

It'll cost close to that to move.

user051105

Experian & Equifax are world wide companies, hope that clears it up for you

iceicebaby

user051105 wrote: »

Experian & Equifax are world wide companies, hope that clears it up for you

...... Which will make obtaining credit wherever your going difficult. Don't forget you need a credit check even to rent in some countries.

Don't be childish and run away, sort it out. Its the rest if us who will ultimately have to pay in the end via increased rates and less attractive deals for those of us who are responsible to cover the losses caused by irresponsible people.

clearform

ixwood wrote: »

Face your problems. is 7.5k that much in the grand sceme of things?

It'll cost close to that to move.

You misread his post. He's not moving abroad to avoid the debt, he's moving abroad anyway.

wenyi

ChadClifton wrote: »

Hi all,

I am moving abroad soon and [...] Im not one for not paying off my debts, but [...] I just wanted to understand what my postition is with these debts. [...]

Thanks

Apologies for having been jumped on by others when you just asked a simple question.

The answer is that it is unlikely that you will be pursued through any legal avenues if you simply cannot afford to repay. It's even more unlikely if there are a number of debts for small amounts (say under GBP2500).

Equifax/Experian will not link your credit in the new country, and they are not as ubiquitous as all that anyway.

Bear in mind that debts are uncollectable if you do not acknowledge them or make any payment for six years. Don't know how long you plan to be away for.

Of course, I encourage you to pay what you owe. But if you simply cannot then you at least have the right to know what remedies might be taken by your creditors in different circumstances. I would have thought that everyone had a right to that information.