U.K debt in Canada

[Eurowanderer]

I have 2 credit card debts of approx 8000quid in the U.K. If the debt is sold to a Canadian debt collection agency, how much legal power do they have to enforce the collection? Both credit card agencies know my Canadian address.

[fkofilee]

Not really very much, unless they pursue it through the UK and Canadian Courts, but itll cost them.

Can we have more info on creditors and DCAs?

[renegadeimp]

It is very unlikely to be sold to a foreign DCA. It will likely be sold to a random UK dca, they will try and find you for a month or two, then put the debt into 'storage'.

[Eurowanderer]

Thanks people. The creditors are HSBC master card and MBNA master card. If debt placed in storage, how long before it is erased? I did offer full and Final payment of 50% to HSBC but they refused. They wanted min payments till I could pay more. The APR is 30%.

[renegadeimp]

It never gets erased, unless you are in scotland. But after 6 years from the date of last payment for credit cards, it becomes statute barred which means they cannot do anything in the legal system to enforce it. They can still ask for the money but they cant do anything in law to get it. In that case, its suggested by the regulators that the Creditor marks it as SB and files it away under "non collectable". Sadly though many creditors will still harass the debtor after it has become SB, even offering discounts, so they get something from the debt.

[Eurowanderer]

Thanks once again. The upshot seems to be that it is really actually close to nil chance of them being able to collect if I choose not or am not able to cooperate?