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If you move out of the UK they won’t bother chasing you for the outstanding debt. It’s not worth it for them!
Moving away means no more debt.0 -
corrected that for you...Years_of_debt wrote: »What’s the total debt [STRIKE]you’re friend[/STRIKE] you owe[STRIKE]s[/STRIKE]?No free lunch, and no free laptop
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Oi! I'm a teecha and mie spellin iz pirfect.Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS0
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What happen when I move out of UK now that Brexit is happening? The lender will be able to chase me in another country?
So Brexit is working then."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
poppasmurf_bewdley wrote: »So Brexit is working then.
Its actually a very good question, if we leave without an agreement, does that mean that all current reciprocal agreements will be honored, or not....?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
If we leave without agreement nothing will work unless it's negotiated.sourcrates wrote: »Its actually a very good question, if we leave without an agreement, does that mean that all current reciprocal agreements will be honored, or not....?
Right now a debt can't be collected from anywhere outside the EU so if we leave with nothing then there will be no right to collect from the EU either.
No deal and everything breaks.0 -
It is indeed a very good point.
Hard to imagine a situation where debts a cannot be enforced between the UK and the EU and vice-versa not least as this would massively impact both the EU and the UK in terms of trade.
Without the potential to recover money from debtors, business and the financial arrangement involving factoring of debts would be hammered and as a result credit terms would be slashed with the resulting knock on effect on cashflow and trade generally.
...but we are in uncertain territory. Certainly if the OP left the UK for good, the chance of having to pay up would be reduced.....but would spend a long time looking over his shoulder!0 -
It's almost like the whole thing is a shambles that hasn't been thought through at all!Brock_and_Roll wrote: »It is indeed a very good point.
Hard to imagine a situation where debts a cannot be enforced between the UK and the EU and vice-versa not least as this would massively impact both the EU and the UK in terms of trade.
Without the potential to recover money from debtors, business and the financial arrangement involving factoring of debts would be hammered and as a result credit terms would be slashed with the resulting knock on effect on cashflow and trade generally.
...but we are in uncertain territory. Certainly if the OP left the UK for good, the chance of having to pay up would be reduced.....but would spend a long time looking over his shoulder!"Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
Right now a debt can't be collected from anywhere outside the EU
I often hear this said and it is totally incorrect. First of all if you've any assets in the UK those can be at risk and HMRC for example have MARD agreements with many nations outside of the EU. Several debt collection agencies also operate in non-EU nations. Certainly in any first world nation I wouldn't be feeling entirely confident.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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