Big CC/overdraft debt, unusual situation - need advice please

fatbelly

debtworrierafc82 said:

a). If i can't cover the payments and expect to fall into arrears and eventually default, should I cancel the direct debits asap?

b). I'm not sure i want my creditors to know my current location. Is this a mistake? They have my last address (my parent's place), so I can still get the correspondence that I expect to receive, but if I did decide to contact them should I let them know I live outside of the UK  (and now outside of Europe) in your opinion. Would it make any difference to the situation other than they know where I am?

c). What are the chances of creditors issuing things like CCJ's for these kinds of unsecured CC debts (approx £46,000 as mentioned above)? I understand it's possible they will pass my debts to different companies after some time, but again i'm confused about how to deal with this all because I'm not in the UK and haven't notified any of them about this. 

a yes

b yes it's a mistake. see c

c individually they are not particularly likely to start a court claim. As a rough guide only about 1 in 10 defaulted debts do so. As you have, or will soon have, seven, then there's a fair chance that one will go down that route. The likelihood is less if you are living overseas than if they believe you are in the UK. 

debtworrierafc82

Thank you both for your responses. It's so much appreciated.

So, to update them on my current location I would have to speak with them to let them know, or it can be done through the apps? Would they ask how long i've been abroad? It's a while, so would that be seen negatively? I guess I'm worried if they have my updated address they could pass the debts to local enforcers in my country - does this ever happen? It's outside the EU (and not the US).

In answer to Swoosh84, I have no assets in the UK - i do hope to return one day, but not in the near future.

Thanks again.

fatbelly

Just give them your new address, not your history. It doesn't matter how you do it.


It's somewhere between difficult and impossible to enforce a debt in another non-EU country. It depends whether there is a reciprocal agreement.

debtworrierafc82

Is it easy to find out if there is a reciprocal agreement? For these amounts is it something they may pursue?

runforlife

debtworrierafc82 said:

Thank you both for your responses. It's so much appreciated.

So, to update them on my current location I would have to speak with them to let them know, or it can be done through the apps? Would they ask how long i've been abroad? It's a while, so would that be seen negatively? I guess I'm worried if they have my updated address they could pass the debts to local enforcers in my country - does this ever happen? It's outside the EU (and not the US).

In answer to Swoosh84, I have no assets in the UK - i do hope to return one day, but not in the near future.

Thanks again.

No need to speak to them. Just write. Tell them you are in financial difficulty and would like them to stop any further interest charges and fees. Include that you only want correspondence by letter or email and not by phone. Tell them that you are considering a debt management plan and will be in touch with them in due course (you can manage your own DMP or get one of the charities to do it for you). Good luck 

fatbelly

debtworrierafc82 said:

Is it easy to find out if there is a reciprocal agreement? For these amounts is it something they may pursue?

You'll need to rummage around on google. IIRC the legislation for this is about 90 years old so if you're in  a 'newer' country there won't be. If you're in one of the old UK colonies there may be. 

Either way it is not much used and any creditor would have to take a commercial decision on it.

sourcrates

The reality is, although technically its possible to enforce a UK debt in a non EU country, it rarely happens.

Debt buyers do not like complications or added time and costs, such as this situation presents.

Their "commercial decision" would likely be either to write the debt off, leave it as delinquent, or sell it on again blindly to another company, and its rinse and repeat all over again.

You do need to remove your folks UK address from the creditors database though, otherwise they will be inundated with letters, calls, possibly personal visits from collectors, and if any accounts progress to the legal stage, bailiffs as well.

You don`t really want to put mum and dad through that now do you.

debtworrierafc82

Very true, I most certainly do not want them getting bothered by my issues. I guess I just am expecting the creditors to 'scold' me for not telling them of the address change. It's not like it could have been that recent due to this pandemic. I tried looking on the apps about changing address and it says if I moved outside of the UK I need to call them. Should be fun...

sourcrates

Personally I would do everything in writing, much more civilised.

debtworrierafc82

sourcrates said:

Personally I would do everything in writing, much more civilised.

Is that a problem if I am planning on stopping my direct debits ASAP? For some reason in my head it sounds better to do that after telling them of my address change. Please correct me...
In terms of a letter, I just need to inform them of an address change with no extra info? Thanks