45K Debt & leaving uk?

[doris22]

 

Hi all, I have run up debt on 3 credit cards to £23k and have a bank loan for £22k,

i have lost my job as the company cease trading do not have any assets,

no house and thinking of leaving with kids and moving to Spain as my parents live there.

I appreciate a lot of you will say I am running ignoring my debts but I have no way of paying back anything,

without causing too many of you to start having a pop..

.what are my options,

run and hope all goes away after 6 years as I have no intention of EVER returning to the UK,

will someone eventually make me bankrupt?

I am sure the bank are not going to be happy with £22k owed and wont let it go....

but if i have no fixed address in the UK.

.,.what will happen..

.I know they can chase you abroad but with no benefits

, living of my parents I cannot see any other options..

..I am truly sorry for what I have done but cannot see a way out...

should i write to all concerned and explain my situation and say I want to leave the country never to return or just go?? 

[London1971]

It will slip off your Credit file 6 years from default.  If they go for a CCJ that will be on your Credit file for another 6 years.

[ericsbrother]

keep a note of all of the debts  and as soon as you are settled in Spain give them yur new address so they can correspond with you there. The chances of them wanting to take the matter to court will then drop considerably. It wil also leave you with a big blank space on your credit files should you then return to the UK at some point in the distant future as the CRA's wont be reporting on your files if Spanish law is different (certainly the case for Germany)

[doris22]

My concern is what will the bank do in particular, the loan was unsecured and over £23k, would I be better off writing to them all explaining thatI have no job, my circumstances have changed and have since left the UK for good?

[London1971]

1 You have no house, so they cannot pursue a charging order, and make you sell what you don't have

2. The only correspondence you need to do, is provide your new address.  You will receive lots of threats, especially if they sell the debt on to a DCA. However they are powerless to impact your credit rating in Spain.

[fkofilee]

While we normally are rather reserved about offering advice in these situations as we dont condone debt avoidance, the realism is that a lot of companies wont pursue you overseas as the chance of recovering the account drops significantly. 

 

Make sure you update all of your creditors with your address in ye olde Espana - Hopefully youll be okay  

 

 

[doris22]

Thank you all, much appreciated

 

[doris22]

I have a loan and have since lost my job, the loan was for £23k unsecured, although I am not a home owner (mortgage all in my partners name), I am now going to live with my parents abroad..

.what are they liable to do, I have no assets here in the UK,

will not return to the UK,

do I just send them a letter say my circumstances have now changed I have no job and are leaving the uk?

Whilst I am not proud of the situation I have got myself in,,..do not want to waste anyone's time chasing me  etc if I am not here

[dx100uk]

your last bit is correct

in all truth theres not a lot anyone can do

[fkofilee]

If its for £23k they may chance it because its not just a couple of grand... But in all honesty it is unlikely. 

Id suggest that you keep them updated of your Spanish address and go from there  

 

[unclebulgaria67]

Remember that once you have been in Spain for 90 days, that you have to register with local Spanish authorities. Below pension age,  if you are not working and paying Spanish taxes, you will need to have comprehensive health insurance. 

 

It is ok moving to Spain, providing that you are going there to work and be able to support yourself financially or be lucky to have family with financial means to support you.

 

i have family in Spain and they have seen many British people in this situation, move to Spain for a better life, away from the hassle back home. But living in Spain, only becomes an extended holiday, with most returning to the UK within a year. They are then faced with having to go through so many hurdles. E.g. Habitual residency test for benefits, trouble getting permanent rented housing etc. 

 

I would suggest that you might want to write down a list of pros and cons about each option. UK v Spain.  

Have you obtained debt advice ?

 

 

 

 

 

 

 

 

l

[doris22]

thanks for the reply, but if I have no assets, car, savings, live in Spain with no intention of returning to the UK contact them by recorded delivery explaining that due to change in circumstance of no longer working, unable to keep repayments up and have now left the UK...what in your opioin do you think will happen?

[doris22]

Hi all, so a little more help please.

If I write to all my creditors explain my change of circumstance (no job) and moving out of UK never to return, can I give them a email address as a form of contact until I get a reg address? or do I give them the B & B address i am staying in abroad on a temp basis (the bed and board is free) as I do not want to give out my parents address as to where I will be going for good for obvious reasons.

 

I am just wondering what else I can give them, unfortunately I have nothing to pay as no assets and will be living with parents initially.

 

As I will be at no fixed address for a time would this be advisable to just give them an email address, the phone number they have will be disconnected any day now,

 

just wondered what was the best course of action.

What happens if they cannot locate you, ie no address and no phone?

Do I enlclose a copy of a channel tunnel crossing to say I have left with my children and its a one way ticket??

[AndyOrch]

Hi doris22

 

What type of debts and rough amount ?

Where exactly are you moving to (None EU ) ?

Are you currently making payments to the debts?

 

Andy

[dx100uk]

ive merged your 3 existing topics on you moving as all the required information people need is already listed.

 

I suggest you might find it useful to now re read from post 1 again too.

 

Thread title updated

 

[doris22]

I have 3 credit cards £10k, £3,700 and £13000, store card £1200 and bank loan £23k... will move to EU country never missed a payment, no ccj or defaults as been keeping up payments, now list job, no assets so not to sure what best to do in contacting them al advising my circumstances 

[dx100uk]

post 3 once you are settled in your own home

6mts to a year is not going to hurt them

and anyway there is in all reality little they can do.

 

[doris22]

Post what? Letter confirming I’m jobless and left the UK?

[dx100uk]

no what is says

simply write to each creditor with your new address in spain.

what are you scared of..?

 

 

[doris22]

I don’t want my parents knowing what I have done. Can I just contact them with an email address and say I am at no fixed address? So sorry I know that sounds awful but I cannot see how these people will just stop as I’m now abroad... £23k from a bank and they will or can just not do anything? As much as I have done wrong the whole thing worries me as I have two very young children and feel these people will not let it go

[London1971]

Your parents won't know anything, unless they open letters that are addressed to you. Creditors will stop pursuing you when you go abroad because there is nothing they can do .  After 6 years it will even dissappear from your UK Credit Report

[doris22]

Thankyou, I do understand this but what I need to know is if I just give them an email address to use as correspondence is this enough? What can I give them to prove I’m out of the uk? I don’t want to give my parents address so if I don’t give this what s the worst could happen?

[dx100uk]

no

send the letters as advised

stuff and all

[doris22]

Thank you x

[unclebulgaria67]

As long as you understand the consequence of not providing an address in Spain, where you can be contacted ?

 

I say this as you seem reluctant to do so, because you do not wish to concern your parents.

 

The risk of not providing a valid foreign contact address, is that UK creditors go to a UK Court in your absence. If this happens in say 5 years time in 2024, they would have 6 years further (longer if court agrees) to enforce any judgement. So not providing a contact address to creditors and keeping them updated if you moved, can open you up to Court actions you have no idea about.  And once they have a UK Court judgement, they can transfer to Spain to try to enforce, with local debt collectors contacting you. 

 

It might be better to tell your parents, as they might at some point open one of your letters in error or in your absence open letters. Also if you have any phones registered to you or your address, debt collectors seem to find ways of getting hold of telephone numbers, so you cannot rule out calls being received.