Moving away from UK - debt questions

[portlandbill]

Hi, need some advice please on my current position.

 

Having built up various debts over the years on credit cards and accumulated a very large mortgage; my family and I have decided to emigrate to the USA to be with family over there.

 

We have managed to sell our house and with the proceeds will have enough funds to clear the mortgage, secured loan and some of the Credit Card debt. I estimate we will have about 8k of funds left from the house sale to clear debts but have about 14k of CC debt in total.

 

Do you think given we will have no assets left and intend moving away that the CC firms are likely to settle the accounts with a lesser amount and if so how would we go about approaching this?

 

Also, we will effectively be homeless for about 3-4 months whilst we prepare for the move overseas, during this time we will be living with friends who have offered us some space in their home. Now, we dont really want to give their address to any CC firms for post as we dont want them hassled, we were intending just forwarding post to the new address until we moved overseas.

 

Are we breaking any sort of agreement with regards not having a postal address? We will also not have a land line but will just be using mobiles until we leave so all contact will have to be via that.

 

Any ideas/suggestions would be greatly appreciated on how to manage the remaining debt we might have in the UK before we leave, especially as we wont have a permanent address anymore. We want to do the right thing and pay as much debt off as we can and leave on a cleanish note?

 

thanks

[portlandbill]

Bump

[exasperated]

Hi Portland Bill,

Its a shame you did not come on the site earlier for assistance. If you have the time and have not yet sold your house my advice would be to CCA request all the companies whom you owe money to. As you probably know those who do not have an enforceable agreement cannot demand money.

If your time scale is four weeks then it you will need to be quick in posting out the CCA requests and getting the CCA's loaded on here for assistance

Here is the CCA request letter send them recorded delivery....

 

Dear Sir/ Madam

 

Could you please forward me all the requested information, under § 77-78 of the Consumer Credit Act 1974, and under the provisions of the Consumer Credit (Cancellation Notices & Copies of Documents) Regs 1983.

• A copy of my fully executed Consumer Credit Agreement and any other document referred to in it, including, but not limited to, a copy of Loan application, antecedent correspondence and recordings, pre-contract disclosures by you or your agents, including underwriting for insurance referred to in the Agreement for the above-referenced parties and linked account(s).
  
• Copies of all papers relating to any additional insurances, including Personal Protection Insurance, referred to in the Agreement and linked accounts referred to in it.
  
• Copies of all papers in relation to broker’s fees, commissions and any other monetary award and/or commissions paid to your agent and/or broker in referred to in the above-referenced Agreement.
  
• I enclose the statutory fee of £1 serial number:
  

[portlandbill]

Well house sale is still going through and we expect to complete in next 4-5 weeks. Sounds like i shoud definatley send a request for CCA to each card company to see if the debt i have is enforceable.

 

Given we are likely not to be in the house and living with friends during this process cause any legal issues? We intend just doing a postal redirection of mail to a business address.

 

Not sure where we stand with the CC firms if we dont have a fixed home address for a few months and i certainy dont want to give my new address overseas to them in case we have any problems paying them in the future. Can anyone offer any advice on this point?

 

thanks for any advice

[exasperated]

PB,

If you get the CCA requests out this week they only have 12 + 2 working days to reply before the account would be in dispute. This means you will still be in your house. Get them as fast as you can and others will advise on the best course of action regards your move if needs be

Exasp