Living In USA with £70K of Unsecured UK Debt... HELP!!!

withoutapaddle

So simply waiting it out isn't enough. It would still be highly likely that I would be hassled by shady debt collectors. The constant phone calls and visits to my home was the main reason I left the UK in first place. It would seem that bankruptcy is the only real option in order to have a truly fresh start.

But can I still declare bankruptcy when I am not resident in the UK or another EU country? I last lived in the UK from August 2005 to December 2005 and then returned to the USA where I've been ever since.

That means I've lived in the UK within the past 3 years and should still be able to file bankruptcy right? But can I do the entire thing from over here or would I have to return to the UK is asked to?

BAILIFFCHASER

Look on the bright side. If you come to the uk to visit you will have no problems with debt etc. However if you come here to settle is when you need to think long and hard. The other way is if you change your name and then come back.

withoutapaddle

My aim is to eventually move back to the UK. If I change my name what does that achieve?

BAILIFFCHASER

If you change your name how are they going to find ? Especially if you change your name in the us and notify the british counslate their. You could also keep the same name and surname just change the spelling around.

GeorgeUK

That's actually a question i've never seen on this forum.

How many people, after informing a DCA that a debt is statute barred, are still chased by other DCA's for this debt?

Might be worth making another thread asking about this.

No idea about finding out about CCJ's without a credit report. Not sure if one of the debt charities will be able to help. CCCS would be my first choice but as you don't know what debts you have - not sure what they could tell you.

dopester

GeorgeUK wrote: »

That last sentence sums it up nicely.

After 6 years, the debt would still exist but you would be under no legal obligation to pay it. The courts would not hear a case that involved a debt that was statued barred and so the debt could not be enforced.

Not too sure what happens if a CCJ or similar has been issued though.

I'd be wary of just accepting this 6 year limitation barred magic solution to the £70,000 worth of debt you did a runner from. If we all worked the system like this we could all be millionaires - and those dastardly banks would have to fund our lifestyles of pleasurable excess without any repercussions.

Quotes sourced from another forum: (I'm not sure if accurate but seems to make sense to me):

if they can prove you failed to inform the credit card company of your change of address and it was deliberate ,the statute of limitations does not apply, likewise because you have moved 3 times over the last year they will be able to demonstrate that you deliberately tried to avoid paying the debt again so the statue of limitations does not apply.

You have moved 3 times in the last 6 years ,your creditors can argue with good grounds the the statue does not apply due to your continued moving and that is why they have just tracked you down ,also they can argue you failed to notify your creditors of your change of address the first time you moved and it was deliberate the courts have upheld similar claims.

What many posters have said here could be true and fact, but tbh I think you'd need to do much deeper research and maybe check with experts on such a situation given the size of the debt involved.

withabix

I think the OP needs to get proper legal advice on this one.

As he left the UK to escape his debts, I suspect a court would rule that the 6-year 'clock' stopped when he left the UK and would re-start again when he returned to the UK. I suspect you didn't advise your creditors of your change of address when you moved to the USA, so I agree with the above posts on Statute of Limitation.

Otherwise a lot of people would do this. It would be a great way to fund the start of a new life abroad - get a £25,000 unsecured loan just before you leave the country....:rolleyes:


Also, changing your name to avoid detection is probably a criminal offence.

withoutapaddle

I don't think I'm ever going to be in a situation where I can pay off the debts and just want a fresh start. I know I have made big mistakes, both in running up the debt and in running away, but I now want to deal with things in the best way possible.

From what I've read I think the best option is to declare bankruptcy as this will clear me from the Debt Collectors once and for all. Of course this isn't any easy option but I think it's the best solution in my case.

The suggestion of changing my name seemed a little deceptive and I really don't think it would achieve much. I don't want to live my life as some kind of fugitive on the run from my debt. Time to face things and go the bankruptcy route.

rog2

withoutapaddle wrote: »

From what I've read I think the best option is to declare bankruptcy as this will clear me from the Debt Collectors once and for all. Of course this isn't any easy option but I think it's the best solution in my case.

You know, wap - bankruptcy is not the 'end of the world' as many people would have you believe. Neither is it an 'easy option'. It is, however a very effective way of dealing with an otherwise hopeless debt situation. Why not have a browse through the 'Bankruptcy and Living With it' sub forum of this board (just click on the link at the top of the page) and you will see how many of us have 'dealt with bankruptcy'.

The suggestion of changing my name seemed a little deceptive and I really don't think it would achieve much.

I quite agree with you, wap. In fact, if it were proved that you changed your name to 'escape your debts' then it could turn the whole situation into a criminal matter.

For what it's worth I see no mention of the OP stating that he moved to the States with any intention of 'escaping his debts' - withabix. In fact, if you read his opening post, again, you will see, and hopefully understand, the circumstances that led to this 'debt' situation, as well as his efforts to deal with those debts, including throwing the proceeds of the sale of his flat at those debts.
If the OP were, indeed, trying to avoid dealing with those remaining 'debts' which have probably also been inflated with penalty charges, then yes - he could, legally, stay in the states for the next three years, then return to the UK and use the 'Limitation Act' to inform any creditor or dca who chases him, that he will not be making any further payments as the 'debts' are now 'statute barred'.
Personally, I think that he is genuinely looking for the 'fresh start' that bankruptcy would give him - to suggest otherwise could be seen as judgemental.

rog2

withoutapaddle wrote: »

Between 1995 and 2005 I managed to rack up around £70K of unsecured debt. During this time I was a student and the debt includes student loans as well as many credit cards and unsecured loans.

Just one thing to be careful of, wap. Most 'student loans' can not be included in bankruptcy - you would need to take advice on this.