Abandoning uk debt when living overseas

cantdoitanymore

Hello

Moral judgement aside....

I have approx £5000 in uk credit card debt. I’ve been living overseas (outside the EU) for 6 years and have been slowly trying to chip away at this debt for all that time. I’m sure I’ve long since paid the original debt but it’s not going anywhere because of interest. I cannot physically pay enough each month to reduce the debt.

I’m here for good now and I will NEVER go back to live in the UK. I will go back to visit every couple of years or so.

Realistically, what can I expect if I just stop paying? I have no assets in the uk. Will they go after my parents? They will have their address on my records as that’s where I had my mail sent during the first couple of years away.

Can I just expect a whole heap of letters that I can simply ignore? How likely are they to send a debt collector here? What will happen when I go back to the uk to visit - ambush at the airport?

Thanks

kwame41

I doubt you will make the top 10 hit list for interpol next time you land in the UK. It would cost more to chase you abroad than what is owed I expect.



Unsecured debt is yours and no-one elses so as long proof is available nothing can be taken from anyone else.


That said, I wouldnt walk away from a debt just because I couldnt be chased for it. Expect the debt to rise significantly with charges for collection etc. And I doubt it will go away over time.

chattychappy

It will either get written off (eventually) or possibly end in a county court judgment against you which will be hard to enforce if they don't know where you are.

That said, international cooperation may change over the coming years. CRAs may share date more than they do now. So it's possible that it will haunt you at some time in the future - either through local enforcement or denial of credit in your new home.

Most likely you'll "get away with it".

But...

I've met many British in Asia who claimed they were living there for good and would never return. Some did, despite what they said. Reasons include - being booted out, long term sickness, running away from relationships, career issues, relatives back home being sick long term, never quite fitting in to the local scene.

History can repeat itself, too. A chap I know set up a new life having run away from a messy divorce and huge debts. Had a great time for a few years, but eventually got into a dodgy relationship and ran up debts in a regime without the checks and balances of the UK. Literally ran back to the UK feeling lucky to be alive. Mid fifties and living off his parents again...

Potbellypig

To answer your question in short - realistically, nothing of any significance will happen.

owen_money

chattychappy wrote: »

History can repeat itself, too. A chap I know set up a new life having run away from a messy divorce and huge debts. Had a great time for a few years, but eventually got into a dodgy relationship and ran up debts in a regime without the checks and balances of the UK. Literally ran back to the UK feeling lucky to be alive. Mid fifties and living off his parents again...

But I bet he's got some great stories though

foxy-stoat

If you havent reduced the debt due to the interest then you haven't been making the minimum payments.

Your parents credit history will be effected as the defaults and subsequent CCJ will be registered at your Parents address, they will expect lots of letters and finally bailiffs, but as long as they have receipts for all their possessions they wont end up paying anything.

nick74

foxy-stoat wrote: »

If you havent reduced the debt due to the interest then you haven't been making the minimum payments.

Your parents credit history will be effected as the defaults and subsequent CCJ will be registered at your Parents address, they will expect lots of letters and finally bailiffs, but as long as they have receipts for all their possessions they wont end up paying anything.

Unless the OP has a 'financial association' with their parents (eg a joint account with them) then a default would have no effect on their parents credit file. Just living at the same address is not sufficient to create a financial association.

For example in 2006 a former lodger of mine left my address to move to Greece, owing around £25k in total on four different credit cards. There were various debt collectors after her and at least one County Court Judgement but it never had the slightest effect on my credit file.

shortcrust

foxy-stoat wrote: »

If you havent reduced the debt due to the interest then you haven't been making the minimum payments.

Your parents credit history will be effected as the defaults and subsequent CCJ will be registered at your Parents address, they will expect lots of letters and finally bailiffs, but as long as they have receipts for all their possessions they wont end up paying anything.

I think you're well aware that that's a load of rubbish.

kwame41

They will have to deal with debt collectors knocking on the door chasing money though. Taking all the hassle for a son who has abandoned his responsibilities.

I'm sure they will be very proud...

jimbo26

foxy-stoat wrote: »

Your parents credit history will be effected

No they won't

shortcrust

kwame41 wrote: »

They will have to deal with debt collectors knocking on the door chasing money though. Taking all the hassle for a son who has abandoned his responsibilities.

I'm sure they will be very proud...

NO. THEY. WON'T.

Let's try to give accurate info on here, eh?