Hi All,

I'm looking for some advice regarding my debts because frankly I'm an idiot and don't know where else to turn.

My situation is so:

I have £10k or so left on an unsecured Natwest Loan which I originally took out back in 2015 but have rescheduled a few times, I'm pretty sure it's supposed to run for at least another 4 years at around £300 a month.

I also have £1900 on a 0% credit card which doesn't run out till September 2019. I will however pay £300 or so off this next month.

I also have phone and tablet contracts which run to about £960.

I move to Canada at the end of August to start a doctorate, they are giving me enough scholarships to cover my fees and have about £10k afterwards. I'm intending to look for a part time job over there and can work up to 20 hours a week during term or any amount of hours during the summer.

I originally was in a job where I earned £26k pre-tax so going from that to £10k even living as a student will make it impossible to cover my debts.

I want to find some way of paying my debts off and definitely want to avoid bankruptcy, an IVA or anything of the like as if I wanted to stay in Canada the immigration authorities would, from what I understand, take a very dim view of it.

I've spoken to a debt charity who have said they probably could help but are only willing to speak to me properly after I've finished my job on the 20th of July. I would like to try and sort something out before then so I can stop worrying and beating myself about my idiotic credit habits! It'll also the last thing I need when added to the stress of having somewhere to live in Canada etc...etc...

Many thanks in advance for any advice anyone can give me

if you aint coming back...bugger all they can do.

dx

Well, I have heard stories of people being chased in Canada for UK debt after moving over there and I know there is a mechanism for enforcing UK judgments over there. Either way I don't want them making me bankrupt here as that will screw up my immigration prospects over there, possibly at least. Also I do actually want to pay it because at the end of the day this is down to my stupidity.

Depends on whether you own any assets in the UK such as a house.

Banks do not quickly proceed to bankruptcy or obtain CCJ's. It can be several years before any action is taken and then by a Debt Collection Agency who buys the debt. Nothing will happen in the near future that would affect immigration to Canada,

If you intend coming back to the UK say within 10 years, then you might want to avoid a CCJ.

Best thing to do in these situations, if you have no UK assets, is to write to the Banks after you have moved abroad to advise of change in circumstances. Advise them that you will need to settle in Canada first to see what money you have to pay any commitments and you will come back to them.

Once the Banks acknowledge you are in Canada, then any debt enforcement would be in Canada, which is possible, but not that likely. They would have to believe it was worth it, given the likely costs they might not get back.

as above

go do it

and then tell you UK credititors you are now resident abroad

then they nor any debt buyer can get or enforce a CCJ or anything as you cant get one whilst you are not resident.

as long as the creditors know.

don't place too much on what you read

most of it is posted by DCA's spoofers to kid people.

a dca is not a bailiff

and will do anything to spoof you out of money.

Thanks! Good to know it won't be anytime soon, I've got 0 assets pretty much, hence why the interest rate was extortionate haha!

I might well come back in the next 10 years but can't be sure, thanks for the advice re change of circumstances. Anything in particular I should include in that letter or any template letters lying around? Do you recommend not telling them in advance of my issues?

Once you are in Canada write to the Banks just explaining that a once in a lifetime opportunity arose that has meant a change of circumstances. If you have anything to confirm residency in Canada send them a copy. Advise that until you know income/expenditure in Canada you won't know how much is available for UK commitments. It is then up to you to sort out. You might decide to make payments if they agree not to add interest and charges, which if they did add might make payments hardly worth it, as they would not repay the original loan amount.

Ok, thanks!! I'll look into drafting that and maybe speak to step change at some point as well.

Does anyone think its worthwhile me trying to negotiate with my bank/creditors before I move to Canada?

Or speaking to a debt management charity etc..?

I'm just a tad worried about them either chasing me abroad or trying to seize any of the stuff I leave at my parents.

I also don't want them harassing my parents for example with letters or some such.

For that matter what are the chances of balliffs turning up at my old UK address or my parents,

where I will live temporarily before I move?

Also worthwhile noting I am currently in Scotland so may be more complicated for me as think Sheriff officers have more rights than Bailiffs?

Don't give your parents address to anyone, as yes if it gets noted on your credit record or any record they will be hassled with letters, phone calls and possibly visited.

If you arranged any forwarding from your previous address to your parents address, Royal Mail forwarding address can be found out by people tracing you.

It could be months or years before any court involvement, but companies you default payment on will start sending letters and try to phone you.

If you contact creditors before moving they may not be interested negotiating with you, because you are moving abroad and walking away from the commitments you entered into. They will want full payment of the outstanding balance or continuation of the normal monthly amount.

Not sure Stepchange will be able to offer much advice, as you are moving abroad because of an opportunity that has arisen. They would not be handling any debt managemebt arrangement.

You need to write to all creditors as soon as you have a Canadian address, so they know where you can be contacted. Also stops a UK Court judgement in your absence. Without court judgement, no visits by bailiffs to last known UK address.

Does anyone think its worthwhile me trying to negotiate with my bank/creditors before I move to Canada?

Or speaking to a debt management charity etc..?

 

 

I'm just a tad worried about them either chasing me abroad or trying to seize any of the stuff I leave at my parents.

I also don't want them harassing my parents for example with letters or some such.

 

 

For that matter what are the chances of balliffs turning up at my old UK address or my parents,

where I will live temporarily before I move?

 

Also worthwhile noting I am currently in Scotland so may be more complicated for me as think Sheriff officers have more rights than Bailiffs?

no its the otherway around

you have more protection in scotland..

DCA's def don't have any powers to do anything

and there are no such things as bailiffs.

sherif officers only serve court papers.

just go and deal wit them afterwards

NO-ONE can go to ANYONES house new or old

once you tell them you've moved

END OF!!