Irresponsible Question Time - What happens if I just decide not to pay?

adnanjanuzaj

Ok but I don't have to turn up? It's not that serious, I'm guessing. They just add legal fees to my "debt"?

DevCoder

Might want to google "attachment of earnings"

Ebe_Scrooge

adnanjanuzaj wrote: »

Ok but I don't have to turn up? It's not that serious, I'm guessing. They just add legal fees to my "debt"?

No, it's not that serious. If you fail to turn up to a court summons then the worst that can happen is they issue an arrest warrant. I wouldn't worry about it. I'm sure "Mr. Big" will look forward to the arrival of his new cell-mate, who he will "break in" gently
:rotfl:

adnanjanuzaj

Why has it taken 4 pages for someone to tell me I risk going to prison? Not sure I believe you.

Ebe_Scrooge

adnanjanuzaj wrote: »

Why has it taken 4 pages for someone to tell me I risk going to prison? Not sure I believe you.

It would take a lot for you to go to prison - in all likelihood it wouldn't happen. But failing to appear in court when summoned is a very serious offence, and you could easily be arrested for it. Of course, what happens after the arrest is up to the judge, and for a first offence it's highly unlikely you'd be sent to prison. But if you Google for "failure to appear in court", and make sure you look at a UK site ( not an American one ), you'll see any number of solicitors firms etc. that confirm it's an arrestable offence, with a maximum penalty of 3 months inside ( I think it's classed as "contempt of court" ).

But none of this matters - you seem to be determined to not pay what you owe, and believe you are untouchable. Feel free to put your theory to the test.

amstel2

If you have no assets & your not bothered just go bankrupt. After 6 years it drops off file & your squecky clean again as if it never happened. Thats what happened to me & i owed way more than you. It was very easy for me & i even kept my car.

I also know of people drawing out cash on their cr card to pay the fee.

If its could enough for Donald Trump, Kerry Katona (both more than once) etc it's could enough for everyone & it's perfectly legal. Its not your problem you can't pay it's theirs.

Sarah_London

adnanjanuzaj wrote: »

I owe money on a credit card. It's in an interest free period for another 12 months. I've used it for almost all my purchases for the past year and now owe nearly £10k. Make the minimum payment each month of about £100.

I have no assets - no mortgage although I do have a car.

I know a lot of people will frown on this but if I just decide to never pay it back once the interest free period finishes. What's the worst that can happen?

I know my credit rating will be damaged but dont' really care.

Edit: I have the money to pay it off but it is not held in accounts with the organisation with whom I have my credit card.

It's amazing how upset people seem to get. After all, this is simply a request for information. If you don't agree, or dislike the idea of not paying, you should reply with exactly what steps the lender will take.

Anyway, I think it's an interesting question, and would also like to know what happens with the recovery of unsecured debts. They are not secured on an asset, so that must mean it cannot be easy to take away your belongings? Also, I do not agree with an earlier comment that said 'they will usually take your car'. Even in bankruptcy, where you lose control of all your assets, you are are usually left with a vehicle of some type.

Still, with my limited knowledge I will do my best to answer the original question....the worst that can probably happen is that you end up bankrupt. If this happens, your main problem will be that the court will examine every account you hold, and this means they will likely find the £10k that you are holding on to.

So, the next plan is to store this money in cash under your pillow. The problem with that plan is that you have to provide a satisfactory explanation to the court as to what you did with this 10k, and why you cannot repay it. If you give an irresponsible answer like 'I lost it gambling on a horse' or 'I left it in a suitcase at the railway station' then your bankruptcy will last forever lol. I think they can impose very long terms of bankruptcy. And to clarify what that means....any money or assets that come to you during the bankruptcy period will immediately fall under the control of the court.

To be fair, you would be better off spending the money legitimately, and not paying it back, rather than having the money to pay, and not paying. But still, if your behaviour is deemed irresponsible, or if they decide that you never had any intention of repaying, then it can even lead to charges of fraud I believe.

Good luck!

EDIT: Turns out the law was changed, and that the maximum is now 15 years. Still a pretty long time to be under the restrictions of bankruptcy!

amstel2

You have several options open to you.

As in my earlier post you could just go BR now & take your chances with your savings.

If your cr rating is still ok at the moment then play the long game by moving the debt to another 0% b/t card (the longest one you can get e.g. 42 months). Then gradually empty the cash out of your your savings & keep some where safe or put the cash into someone else’s a/c. This would just look like normal living costs. Then go BR in 4 years’ time. As you’re self-employed you have more scope for your income & expenditure figures, regarding an IPA.

You could do similar to the above & maybe get a DRO.

Now am not promoting breaking the law or questioning the morality of all this. I am just expressing a factual opinion. I take the view that there are plenty of celebs, politicians, Knights of the Realm & especially bankers with their noses in the trough, fleecing us all & getting away with it.

lisyloo

Ok but I don't have to turn up? It's not that serious, I'm guessing. They just add legal fees to my "debt"?

No judgement here just information.


If you get taken to court and loose then you'll get a CCJ (county court judgment) put on your credit report. This will make it difficult for you to get credit in future, so if for example you settled down and wanted to get a mortgage then it could be a problem.
An unsatisfied CCJ (where you don't pay) is judged worse than a satisfied one. These things stay on for 6 years AFTER they are SETTLED.
It could affect your chances of getting a job, especially if you wanted to work in any role connected to finance.


The lender might decide to sell on your debt and the company that buys it could be very persistent, calling regularly.


You (and the people you live with) might also send ba;liffs round to your house. These people operate at the edges of the law e.g. put great pressure on other people and tell half truths to get anyone else to pay.
This could bother partners, children, house sharers and if you rent your landlord might be too pleased either, because sometimes they take stuff that doesn't belong to them.

amstel2

lisyloo wrote: »

No judgement here just information.


If you get taken to court and loose then you'll get a CCJ (county court judgment) put on your credit report. This will make it difficult for you to get credit in future, so if for example you settled down and wanted to get a mortgage then it could be a problem.
An unsatisfied CCJ (where you don't pay) is judged worse than a satisfied one. These things stay on for 6 years AFTER they are SETTLED.
It could affect your chances of getting a job, especially if you wanted to work in any role connected to finance.


The lender might decide to sell on your debt and the company that buys it could be very persistent, calling regularly.


You (and the people you live with) might also send ba;liffs round to your house. These people operate at the edges of the law e.g. put great pressure on other people and tell half truths to get anyone else to pay.
This could bother partners, children, house sharers and if you rent your landlord might be too pleased either, because sometimes they take stuff that doesn't belong to them.

I thought the 6 years runs from the date the CCJ is issued. This is why the system gives no incentive to pay them. Pay or don't pay it sits their for 6 years.