Help needed urgent please!!!

[theplantoperator]

Hy everyone ,i'm new to this site and i need your help and informations.

I will try to explain my situation as accurate as possible:

I'm living in UK for 7 years now but i want to go back to my country. I have accumulateted some debts(aprox 20-25k) and i'm with a debt management company at the moment.my wife also has about 15k debt.

I just want to get rid of the stress and go back but i can't just leave everything like this(the debt)as the creditors may follow me abroad.

What options do i have???Thank you!

[rory32]

Hi and welcome to CAG.

 

Which country are you moving back to and when roughly are you considering moving back? Are you moving back permanently?

[naughtykitten]

Which debt management company are you with?

[theplantoperator]

Hi and welcome to CAG.

 

Which country are you moving back to and when roughly are you considering moving back? Are you moving back permanently?

i will move back to Romania and i intend to go at the end of january on permanent basis( i will not come back)

[theplantoperator]

Which debt management company are you with?

payplan.

[naughtykitten]

Payplan are one of the good ones -if your wife is not already with them you may want to advise her to discuss her situation with them also, or with the CCCS.

 

As to your creditors following you abroad, yes they more than likely will -depending on who your debts are with, when the debts are from & the type of debts.

 

If you are wanting to clear the debt before you go, then that may be very difficult, however, I'm sure there would be no problem in continuing with Payplan after you move are wanting to continue to clear your debt.

 

If that is the case then I would speak to Payplan to let them know that you are moving & they will advise your creditors who will be more agreeable if you let them know you are moving than them having to find out the hard way.

[theplantoperator]

Payplan are one of the good ones -if your wife is not already with them you may want to advise her to discuss her situation with them also, or with the CCCS.

 

As to your creditors following you abroad, yes they more than likely will -depending on who your debts are with, when the debts are from & the type of debts.

 

If you are wanting to clear the debt before you go, then that may be very difficult, however, I'm sure there would be no problem in continuing with Payplan after you move are wanting to continue to clear your debt.

 

If that is the case then I would speak to Payplan to let them know that you are moving & they will advise your creditors who will be more agreeable if you let them know you are moving than them having to find out the hard way.

if i will do that then all creditors will have to accept a lower repayment rate as the wages back home are lower.is there a minimum i have to pay or they will take the level of wages from back home in consideration?

Also if we agree for an amount , will i pay that amount for the rest of my working period(until retirement)or there is a set time limit?

also is banckrupcy an option considering that i'm not comming back?do i have to justify every penny to the court if i do that? i have a house home inherited from my grandparents,if i go bankrupt do they have acces to assets abroad?sorry for all these questions!

Thanks for your reply!

[naughtykitten]

You will probably need to do a new income & expenditure letter to show that you need to reduce payments due to reduction in income. Payplan will go through that with you. There is no set time limit to pay back by, but it can be re-evaluated at any time.

 

Bankruptcy is an option that you can consider, but you will need to weigh up if this is an option that you want to persue as it may affect things for you in the future. You also have to pay to be declared bankrupt -around £200 last time I heard but I wouldn't be suprised if this had increased. I would discuss this with both Payplan & the citizens advice bureau to see if this is something that would be a possible option for you.

 

As to the house you inherited, I'm really not sure 100% so can't help you with that! Hopefully someone else on here can give you some info!

[theplantoperator]

You will probably need to do a new income & expenditure letter to show that you need to reduce payments due to reduction in income. Payplan will go through that with you. There is no set time limit to pay back by, but it can be re-evaluated at any time.

 

Bankruptcy is an option that you can consider, but you will need to weigh up if this is an option that you want to persue as it may affect things for you in the future. You also have to pay to be declared bankrupt -around £200 last time I heard but I wouldn't be suprised if this had increased. I would discuss this with both Payplan & the citizens advice bureau to see if this is something that would be a possible option for you.

 

As to the house you inherited, I'm really not sure 100% so can't help you with that! Hopefully someone else on here can give you some info!

thanks for your reply!!!