Pay day loans - leaving the country

[thelittlelad]

Hi All,

 

I have a number of payday loans and cannot currently pay the debt (£1000). I am leaving the UK next month and will be living in Canada for a number of years and then in Ireland for four years. If I was to return to the UK to live it would be in six or seven year’s time.

 

Can someone please advise me on what the consequences are of walking away from the loan companies and ignoring the debt? It seems like a desperate option but may be my only one. Any advise welcome.

 

Many thanks.

[paxon]

Basically there is nothing they can do.

If they don’t apply for a ccj then after 6 years they would be statue barred and they can’t touch you.

Though like I said if they or the collections agency go for a ccj I think it never expires. Though I would not worry for such small amounts.

[paxon]

p.s dont quote me on that wait for it to be franked first.

But I hardly expect interpole to be chasing you round the globe for a few hundred you owe to p,d,l's , they have better things to do I think.......

[tomtom013]

I agree with Paxon

[cerberusalert]

If the £1K is split between several loans it would not be viable for them to chase you while you are abroad, they can't legally obtain a CCJ against a non-uk resident so they cannot take enforcement action either in Canada or Eire & it would be too expensive for them to attempt to gain a judgement over there... even if they had a forwarding address.

 

Any adverse information registered on your credit file here in the UK would drop off after six years and your UK credit file cannot be shared with anyone abroad either.

[bboy]

it's people like you that make these loans expensive for those of us that dont abuse these services. your leaving the country for how much!? people wonder why this country is going backwards!? there is your answer!!! all the clever people are getting pay day loans to the tune of £1000 then moving abroad. definatly only idiots left here/!!!

[Cait116]

wish I could afford to b*gg*r off. Maybe the Bahamas or Mauritius .............................

[paxon]

Glo i know what you mean, i would but no more p.d.l's will except me...... lol

 

So to conclude Thelittle lad happy globe trotting!

[Cait116]

:lol::lol::lol::lol:

[thelittlelad]

Thank you for all the responses.

 

I hope you're right!!