£30,000 credit card debt - living abroad - DRO

pedrosa666

Good evening chaps,

Background:

MBNA Credit Card - £15,000 (minimum payment each month £450)

Tesco Credit Card - £6000 (min pm £250)

Halifax Clarity - £7000 (min pm £250)

Two years ago I had to move to Czech Republic as my wife was pregnant and she couldn’t get visa to UK.

So far I have been making minimum payments totalling at £1000 a month but soon will run out of money.

I wanted to ask how would DRO or Bankruptcy look like when applying for it from outside of UK.

I meet the residency criteria as it hasn’t been three years since I was a UK resident. However, I’m not how would I provide proof of current employment and spendings/outgoings considering that I now live in Czech Republic and take home £1400 from my ft job.

Would official receiver want my Czech bank accounts and payslips, they would need translating etc. Or could I just go to UK for some time and not work, say that I’m unemployed etc.

I’m considering DRO or bankruptcy. I do not ever intend to go back to live in the UK. However, my parents live and own the property which is registered on my credit cards. Hence I cannot just forget this debt as I cannot stand a thought of bailiffs harassing them and my parents having to prove that they own items in their own home.

For now I will apply for token payments since I cannot make minimum payments anymore (have been doing so for past two years). However, I need w final solution to resolve this nightmare.

fatbelly

You could possibly do a DRO through Money Wellness.

However, what do you think will happen if you stop paying? These will just wither on the vine. Statute barred after 6 years.

Are you planning to return to the UK?

pedrosa666

fatbelly said:

You could possibly do a DRO through Money Wellness.

However, what do you think will happen if you stop paying?

Are you planning to return to the UK?

No I will not come back.

When I stop paying accounts will defaults, my parents will start getting letters. Then bailiffs will turn up… My parents always keep the doors open so they will just walk in no problem. 

I just cannot let that happen.

Grumpelstiltskin

No bailiffs will not turn up at your parents, so forget that.

I presume your creditors have your parents address? Not the best idea but if push comes to shove give your creditors your  Czech address.

pedrosa666

Grumpelstiltskin said:

No bailiffs will not turn up at your parents, so forget that.

I presume your creditors have your parents address? Not the best idea but if push comes to shove give your creditors your  Czech address.

Yes my cards are registered at my last UK address which is my parents house. Also, my driving license is registered to that address and my £800 car which my dad uses (registered in my name).

Grumpelstiltskin

You must have realized by giving your parents address you were putting them in a position where they would at least keep receiving letters addressed to you from your creditors.

I don't know the legalities of having your UK driving license registered there. Do you have a Czech driving license?

steven141

It may be worth contacting the credit card companies individually and explaining the situation, they may offer some sort of payment plan which is lower than what you are paying. 

I would also give them your new address to avoid them contacting your parents, however some banks don’t allow you to hold accounts outside the UK but as you are due them money, they may accept to close all accounts for further use and allow you to pay off what you are due but by bit.

The best bet is to speak to them as they will want to cooperate with you otherwise they will know that you could just stop paying and since you are no longer a resident of the UK, they can’t do a thing about it so that fact that you are trying to pay it back would surely be seen as a good thing by them. 

pedrosa666

steven141 said:

It may be worth contacting the credit card companies individually and explaining the situation, they may offer some sort of payment plan which is lower than what you are paying. 

I would also give them your new address to avoid them contacting your parents, however some banks don’t allow you to hold accounts outside the UK but as you are due them money, they may accept to close all accounts for further use and allow you to pay off what you are due but by bit.

The best bet is to speak to them as they will want to cooperate with you otherwise they will know that you could just stop paying and since you are no longer a resident of the UK, they can’t do a thing about it so that fact that you are trying to pay it back would surely be seen as a good thing by them. 

 

Thank you 🙏

Would emailing CEOs be my best bet?

sourcrates

pedrosa666 said:

fatbelly said:

You could possibly do a DRO through Money Wellness.

However, what do you think will happen if you stop paying?

Are you planning to return to the UK?

No I will not come back.

When I stop paying accounts will defaults, my parents will start getting letters. Then bailiffs will turn up… My parents always keep the doors open so they will just walk in no problem. 

I just cannot let that happen.

Not going to happen, creditors don`t throw away money engaging bailiffs, worst that will likely happen is your UK credit file may get a few stagnant CCJ`s sat on it, a few debt collection letters will be sent, calls etc.

Why not pre-empt this by simply updating your address with each lender, they won`t be coming after you abroad, you are but an account number to them, your debts will go through the same collection routine as all the rest, there won`t be any brownie points to be earned as its an automated process.

Once they realise you are abroad, they will off load the debts pretty sharpish, trying to re-coup their losses, then whoever buys them will almost certainly soon come to the same conclusion, then it may be rinse and re-peat, or they may just go after easier prey.

No loyalty or morals in debt collection, they will soon forget about you.

pedrosa666

sourcrates said:

pedrosa666 said:

fatbelly said:

You could possibly do a DRO through Money Wellness.

However, what do you think will happen if you stop paying?

Are you planning to return to the UK?

No I will not come back.

When I stop paying accounts will defaults, my parents will start getting letters. Then bailiffs will turn up… My parents always keep the doors open so they will just walk in no problem. 

I just cannot let that happen.

Not going to happen, creditors don`t throw away money engaging bailiffs, worst that will likely happen is your UK credit file may get a few stagnant CCJ`s sat on it, a few debt collection letters will be sent, calls etc.

Why not pre-empt this by simply updating your address with each lender, they won`t be coming after you abroad, you are but an account number to them, your debts will go through the same collection routine as all the rest, there won`t be any brownie points to be earned as its an automated process.

Once they realise you are abroad, they will off load the debts pretty sharpish, trying to re-coup their losses, then whoever buys them will almost certainly soon come to the same conclusion, then it may be rinse and re-peat, or they may just go after easier prey.

No loyalty or morals in debt collection, they will soon forget about you.

Could it be that they find a debt recovery agency in my country and since I have given them my new address this will lead them straight to my door?

sourcrates

Again, extremely unlikely, a debt collector in your country would have to buy the debt, which will never happen.

Consumer debts in the UK do not get sold abroad.

You would have nothing to worry about.

Don`t overthink things, UK debts tend to stay UK debts.