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UnluckyLuke

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About UnluckyLuke

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  1. Decided against it. Hope not to regret. The moment I considered this was 2 days before the bottom of the stock market. Would have entered at the the very bottom. My evaluation, at least short term, was spot on. Anyway, decided against it, and once a decision is made, made it is. The idea of maxing out a credit card from zero in 1 day and then defaulting on everything immediately seemed too risky. Thanks!
  2. citizenB, same background but very different issue. The issue of the first thread was about what to do with the address after moving abroad. unclebulgaria67 helped me with it, and the thread should have been closed. The issue of the last post was about betting on the stock market with credit card money to avoid default. Very different, and addressing something not covered anywhere else: move abroad with UK debts + maxing out credit card for betting before eventual default. Key question: is that fraud? Can we please unmerge these two? Otherwise the thread will currently not attra
  3. Hello all, Somebody please tell me I'm out of my mind. Or not! I left the UK and moved to a non-EU country. I left behind two significant unsecured loans (so you get the picture, the biggest is for 20k). I will soon be defaulting on these. Because I do no plan to go back I expect little negative consequences if any at all. I still hate the idea of defaulting. I wont be defaulting because I can ran away with no consequences. I will be defaulting because I can't pay. I just had a brilliant/idiotic idea, a possible solution to avoid defaulting. I have unused credit cards (zer
  4. Maybe if creditors could get a hold of my SIPP account through bankruptcy, and if my credit file would tell them about it, it may be smart to give the SIPP to charity.
  5. Thanks unclebulgaria67, that's valuable to know. The bigger of the two is for 20k. No assets aside of 5k on a pension/SIPP account, which is supposed to be untouchable. Find it interesting that I've seen other posters with debt as big as mine and still no mention of forced bankruptcy. Bankruptcy would not be great for my job search abroad because supposedly some companies would perform UK credit checks. Supposedly. Couldn't find conclusive info about it. Would my credit file tell creditors what assets I have? Really hope so, that would show them they have nothing to gain from my bankrupt
  6. Hi unclebulgaria67! I just read one post of yours from two years ago saying "for debts over £750 they can apply for bankruptcy in your absence using your last known UK address. Some debt companies are doing this rather than apply for CCJ's." Its the only mention to this I've seen. Find it strange nobody else defaulting and moving abroad has mentioned this. Would you know if it still applies? My debt is well over that threshold. Many thanks, LL
  7. Thing is my current address should cease to exist within a year (my parents plan to sell it). And I hope to move to the US if I find a job there. I would be worried to update creditors' files with a US address, but I would also be worried to leave creditors without an address where I can be contacted (to be able to stop any CCJ sooner rather than later). Keeping a UK forwarding address solves both issues, but it may create another issue: it may be interpreted as sign that I live in the UK. Any second opinion would be enormously appreciated! Thank you unclebulgaria67, you were beyond
  8. One more! On the original subject: When I emigrated I updated my address on my creditors file to a UK based mail forwarding company. I could send the creditors a letter with proof that I am now a permanent resident of another country and update the address on their websites as well (to show my foreign address), or I could send the letter only and leave the address on their websites unchanged (still showing the mail forwarding address). If I opt for the later I may still receive the creditors correspondence, and I may be able to find out if they are getting a CCJ against me.
  9. There is one more thing I have significant doubts on: what to do with my UK bank and credit card accounts. I debate between closing them all before defaulting, or not. Should I expect my creditors to let my bank and credit cards know about my default, seize the little money left on the bank, and force the account closures? Can they do that without a CCJ? The seizure of the money would not be a big deal. What worries me is having the accounts closed for me. That would leave an additional stain in my financial history. Who knows, maybe I save enough to pay all debts and in 5/10 years I ret
  10. Dear unknown friends, Hope someone can offer valuable advice. I have two UK unsecured personal loans. I recently left the UK and moved back to my parents house, in a developing country with no links to the UK. I can't pay one penny on those loans anymore, and I will be soon defaulting. A student loan the size of Jupiter takes precedence, and I am struggling to avoid defaulting on it. I read every single post on the subject I found. I gathered that a creditor/collector cannot legally get a UK CCJ against a non-UK resident. I am debating if to tell the creditors I moved abroa
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