45K Debt & leaving uk?

[fkofilee]

Doris... We keep repeating the same advice but you aren't reading it correctly... 

 

UncleB is right... Give all creditors your Spanish address and watch them whistle... Otherwise the entire thread is a waste of time

[doris22]

Yes I understand now, thanks to you all

[AndyOrch]

And keep a copy of everything...letters/email/date/time to prove that they are aware of your circumstances and new address.

[doris22]

Hi again, I appreciate there is not probably much they can do if I give them my Spanish POBOX  number and email address as a point of contact. My concern is the bank loan £23k is a lot for one one not to do anything about... I may have £4500 I could possibly pay off before I leave is it worth me doing this?

 

tia

[unclebulgaria67]

Using a PO box at a post office in Spain is quite normal for people living in the countryside, where there are no post deliveries. So that should be ok. I know with a family member in Spain who left UK debts behind, that creditors refused to register any Spanish correspondence address on UK credit records.

 

You can add notes to your UK credit files with your Spanish postal address, by contacting the Credit Reference Agencies. Banks can be a bit naughty in not advising Debt Collection Agencies of foreign correspondence addresses,  so you might want the Banks to confirm in writing to you, that they have noted your Spanish correspondence address. The Banks might want proof of the Spanish address, which you can provide with the Spanish Post Office box confirmation or Spanish residency document.

 

Not worth offering the Bank any money. You could send them a letter explaining your financial problems and asking them about the process of the reviewing any full & final settlement offer, if you did not want to go down the insolvency route. The Bank will not be very interested, beyond telling you to obtain independent debt advice.  Most Banks would rather write off the debt and sell it on to Debt Buyers.  

 

 

[London1971]

I had a  27k debt with HSBC back in 2007. Then I went off to Canada, didn't pay them back anything, moved back to the UK in 2010, didn't pay them back anything.  The debts were off my Credit file and statute barred in 2014.  At this point there was nothing HSBC could do to chase me, and any lender looking at my Credit file would have no idea that it had ever existed either.

 

If I would have paid of 4500, it would have made zero difference.  It's the same for you.

Edited March 17, 2019 by London1971

[doris22]

Thankyou both for your replies. One last thing is there a template or particular wording I should use to address all creditors? Do I just write to them giving the cc number or bank account number saying, sorry I have no job, my circumstances have changed and have left the UK here’s my pobox address and email to contact me? Or something more? Do I mention that I have notified all credit agencies too, with regards to me being no longer in the UK? Thanks again for all your adviser 

[dx100uk]

Just send your address

Use their ref or credit account number so they know what you are on about

Nothing more

[doris22]

 

Hi all,

I have two credit cards with Virgin that I have kept for emergencies only,

I have run up huge debts on loans and other cards but kept these two clear, as I have since lost my job and my loans and other cards are now not going to get paid,

 

whilst I understand my credit rating is going to get slashed etc etc,

Will these cards get revoked back,

will they still work should I ever use one? 

 

Just assumed that once your credit file has been severely damaged, other companies would then not want the risk...am I correct thinking this?

Or would I be better just handing them back?

[BankFodder]

Well I'm very sorry to hear of your difficulties. This kind of stuff can be very frightening and very depressing.

It is certainly unlikely that the cars will be revoked – unless something happens to draw the issuers'attention to your new situation.

On the other hand, although it may be very tempting to keep these cards available for a "rainy day" I would say that it is a very dangerous thing to do.

My own personal advice is that you would be best off cutting them up before you are sidetracked by a moment of weakness.

Then tell us about all the other debts that you have and we will see if we can give you any advice as to how to handle them.

I would suggest that you do this as soon as possible because if your loans are going to get paid then it will only be a very short time before you start receiving letters and threats and you feel even worse about your situation.

So get the scissors out, cut the cards up – and stop your situation getting any worse and then start telling us the rest of the story and will see if we can help you make things a bit better.

[ericsbrother]

they would have to contact you with their new terms of business so cant just revoke the card.

However, you should cut the card up now as you already have enough problems and acquiring more debt is not going to help you one bit.

You can tell us about your other debts if you wish, creditors will prefer to know where they stand rather than be forced to take action so get things all listed and we can offer advice on how to priorotise things and what to say to your creditors to minimise the effects of the debts.

[doris22]

many thanks, Yes I am going to destroy them and then ask for the accounts to be closed. 

 

[doris22]

Quick  couple of questions,

 

As previous posted am moving to Spain and as  advised will contact all creditors with my new PO Box address (plus copy on contract as proof) and email for them to contact me,

 

I understand that some banks and some card companies will not accept you have moved abroad and update you credit record, so do I contact the likes of Equifax, Experien before I leave to give them my details? 

 

Finally

the house I live in is owned by my partner and is all in his name, i have NOTHING in my name at the property, cars etc.

 

If one of the above is transferred to a Debt Recovery Agency

can they come after him?

Can they lodge a 'charge' or anything against the house..

 

.all the cards (4 in total and bank loan) were all taken out in my own name and when I completed the applications I was classed as 'Other' not home Owner..

 

then I was told I can be accused of obtaining the cards through fraud!!!

I have lived in the house for over 10 years but its not mine.

..now very worried.

..any advice xx

[AndyOrch]

No and no.

 

Andy

[ericsbrother]

 as long as he understands that they have no powers to say or do anything . They will tell lies to get moeny out of people even if it is the wrong person

[dx100uk]

I have merged your numerous threads all related to your move to spain

its a lot better to keep to one topic please

[dx100uk]

and where are you reading all this rubbish from?

a DCA is not a bailiff and have ZERO legal powers to do anything!!

 

dx