worst case scenario

Cyberfreakster

Hi,
I have a friend who is thinking of moving abroad. The trouble is, she has a credit card debt that she knows she wont be able to pay off by the time she leaves the country. I have tried telling her not to do it, but she seems to be pretty adamant about it. Can anyone let me know what would happen, if she was to do this. Hopefully, i can give her this info, and she will change her mind!!

thanks

Clariman

Cyberfreakster wrote:

Hi,
I have a friend who is thinking of moving abroad. The trouble is, she has a credit card debt that she knows she wont be able to pay off by the time she leaves the country. I have tried telling her not to do it, but she seems to be pretty adamant about it. Can anyone let me know what would happen, if she was to do this. Hopefully, i can give her this info, and she will change her mind!!

thanks

She would still be liable for the debt and the creditors would pursue her for it even though she was abroad. It would massively affect her credit rating and she would be registered on GAIN - the Gone Away Information Network (I think it is called) which appears on her credit file, so any time she tried to borrow in the future any lender would see that she had done a runner.

And then there is the morality of the whole thing which is another matter.

Clariman

telly-addict

And the interest will keep mounting up, month after month, until she re-appears and has to pay some off. I can't imagine the credit card companies forget about big debts?