I owe money in the UK to credit card companies and loan companies but am now having to look after my parents who are ill. If I was to take them abroad with me and not pay the creditors what would happen? Would they write the debt off or would I be traced and arrested? Any advice would be most helpful.
2006-11-12 21:20:33 · 8 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Short answer is yes and after seven years your credit history would be clean aswell. I just moved in this country and didn't tell them where and they wrote my debt off but my credit has been screwed for years, and if i could go back i would not do it again
2006-11-16 19:58:32 · answer #1 · answered by Paul E 1 · 0⤊ 0⤋
The previous occupier of my house did this and it has caused us no end of problems still 2 years later. We still get phone calls and letters asking about him. Its not fair on the people left behind.
Surely if your parents are both ill you get financial support for them? Do you not have any assets you could sell first? Britain is one of the few places you get free health care so think about it carefully. You might be better off approaching a free advice centre such as consumer credit counselling service, be honest about your debts and they will give you some useful advice. good luck.
2006-11-14 00:38:48 · answer #2 · answered by Anonymous · 0⤊ 0⤋
you would definately NOT be arrested! i think most companies would write most debts off if they couldn't find you, as think of how much it would cost them to search all over the world for you.
on the other hand, such drastic action isn't the only way: check out this link http://www.nationaldebtline.co.uk/england_wales/
these people are reputable, won't charge you & can give you some good advice.
2006-11-13 10:01:23 · answer #3 · answered by stinkycatwoman 1 · 0⤊ 0⤋
You borrowed the money, you pay it back, you new the words and stipulations of the non-public loan even as you got it, in case you do not pay it back it will be bled out of different purchasers of the monetary agency, you look to have a ligger concepts-set, pay your charges, and sleep an nighttime, they receives you contained in the great.
2016-11-23 19:09:23 · answer #4 · answered by ? 4 · 0⤊ 0⤋
without leaving a forwarding address the debts are written off after 7 years pressuming you don't surface in this country again inbetween.
2006-11-12 21:27:11 · answer #5 · answered by mark leshark 4 · 0⤊ 0⤋
These credit card companies readin this, must be pissing themselves in fear lol.
2006-11-12 21:27:24 · answer #6 · answered by Anonymous · 0⤊ 0⤋
they will probably find you in some way or another.
i'm sure you wouldnt be the first one to try something like this
2006-11-12 21:32:09 · answer #7 · answered by zargonius 3 · 0⤊ 0⤋
yes, but if you come back you'll have to pay with intrest!
2006-11-12 21:32:15 · answer #8 · answered by Montella 2 · 0⤊ 0⤋