stopped visa payments

debtriddentramp

i have moved abroad to asia and as my wages here have been far lower than the uk so i simply cannot afford my repayments to my uk bank accounts.

i have cancelled all my visa repayments just now but i am worried about the consequences.

does anyone know what affect this will have? will it eventually result in court proceedings?
will i never be given credit again?

any advice is appreciated as i could not find any information on the internet.

CLAPTON

Your creditors will probably default your account after about three months which will trash your credit record for six years.
This will make it difficult or impossible to get credit except at extremely high rates. If your bank ever reviews your a/c with a credit check, it may withdraw your debit card and overdraft facility.
Your last known address and phone number will probably receive a lot of mail / phone calls about it.
They may take you to court and you will then have CCJ.

inmypocketnottheirs

debtriddentramp, what do you expect your creditors to do?

Zebedee69

If you plan on coming back to the UK thats sort of okay. If you are then you realy need to pay because they WILL catch up with you eventually and like CLAPTON said. Your credit rating will the trashed which has far more implications than you might think of.

Hope this helps. Is there a way you can continue paying back?

debtriddentramp

the bank charges were costing me too much and i have had difficulty keeping my uk current account topped up with transfers of money.
i plan on working in asia for at 2or3 years working.
'inmypockets' - i expected they might take me too court, even though i am not residing in the uk.
i am still not sure what i can do about it.

i had been paying bak since i've been here but the repayments have started catching up with me coupled with charges.

what implications will this have on my credit rating in the future?