I currently owe over £42,000 on credit cards and am emmigrating in June. What should I do with my debt?

Question

They are all non priority debts. I am employed as a bar manager and hold a personal licence. If bankruptcy was the best option would it effect my licence at all?

Answer 1

hi, I don't promise anything but if you are willing to read
people in debt often seem to find some help here :
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!

Answer 2

Well to be honest you are that far gone, i would try and make it higher . You are never going to have to pay it back, and in my experience even if they caught up with you , you can always offer a pound a month, this seems to satisfy everyone these days. The thing is the only problem with debt is not so much the fact that youve got it, cos as above you can get away with paying very little back.

The problem is you credit history, because once your on that track youll never get anymore credit.

BUT why should you care cos your going to be in a different country and there is no international credit checking system as far as im aware

good luck and spend spend spend

Answer 3

Bankruptcy is a good idea and an option to take up on. But the only thing is you can't leave the country for a period of years until its cleared. If I was you I'd look into it first before jumping the gun.

Answer 4

Enjoy your new country of residence and bin the debt. Don't bother with bankruptcy once you leave these shores they cannot touch you. My friends did this many years ago and went to Aussie, they purposely ran up a fortune on credit - and good luck to em. Fortune always favours the brave.

Answer 5

Well, you spent the money and now you are thinking of not paying it? Technically that is stealing! But hey if you are happy to do that, go ahead. Or get some advice and offer to pay it back slowly! They will not leave you alone and you will get CCJs and a bad credit score and if you ever want to come back to the UK you will be f***! I speak from experience!

Answer 6

dont pay it back, dont give your neighbours here your new adrress abroad, sometimes the credit companies use tracing agencies to look for your where abouts, they ask your neighbours at each side and a few doors up, they asked us about a former neighbour, they shouldnt let you run that much up in debt, its their own stupid faults, they are so greedy, they can afford it anyway, i,d just go but dont tell anyone other than your closest family when you are going, dont leave your family though tpo pay off your debt, its only secondary debts anyway, you cant go to prison for them, good luck

Answer 7

Consolisate your debt and start paying them:

Ways to Consolidate Debt
http://www.debt-explained.com/category/Ways-to-Consolidate-Debt.html

How to Avoid Bankruptcy Explained
http://www.debt-explained.com/category/How-to-Avoid-Bankruptcy-Explained.html

Answer 8

The country you are going to might have some restrictions, better check first! Try to reach some kind of settlement, even if it's just a symbolic monthly payment for now.

Answer 9

Log onto martins money savers and reclaim the ridiculous charges that I am sure they are charging you.

Take the credit card companies to court, it is relatively easy, a friend of mine is taking her bank to court at the moment as she has had £1,000.00 in charges deducted from her account.

And when you win in court, run as fast as you can.

Answer 10

Consolidate your debts or take advise from a credit counselor:

Credit Counseling Programs
http://www.complete-debt-info.com/category/Credit-Counseling-Programs.html

Online Debt Consolidation
http://www.complete-debt-info.com/category/Online-Debt-Consolidation.html