I am moving to another country. I have two credit cards which i cannot afford to pay. can I just stop paying them? will I be arrested if I return to the Uk at any time? Will my credit score be affected in another country?
2007-01-12 00:22:38 · 15 answers · asked by grottie2000 1 in Business & Finance ➔ Credit
You can leave your debt behind but as soon as you return they'll find you!!!! Better to try and sort it before you go or just don't come back!
2007-01-12 00:28:42 · answer #1 · answered by prettywoman 6 · 0⤊ 0⤋
I dont think you will be arrested as you have not done anything criminal, you have just gotten into debt.
There are two thought here. One. the reason why credit card interest is high is to cover bad debts which frequently occur. So the risk for credit cards companies is to accept bad debts, which yours is one.
Two. It would be better to leave with a clean slate, you could negotiate with them to reduce the rate of interest or cancel interest all together.
Credit Score in another country. You will have to develop a credit rating in your next country by opening a bank account etc, but I have just been through a mortgage and they did not check with the U.K
Contact Citizens Advice Bureau website for more information
2007-01-12 00:37:08 · answer #2 · answered by fizz 3 · 0⤊ 0⤋
Yes you can leave the country without telling these guys. In the new country if you want to wait a few years before applying for a new credit card, then this won't hurt your credit there, otherwise you will need to provide your UK credit reference for new credit cards in the new country.
I don't think that immigration people will tell the credit banks about your entry or exit in the country, so you will be relatively safe from being arrested.
But this all won't be ethically any good.
2007-01-12 00:36:31 · answer #3 · answered by AnSID 3 · 2⤊ 0⤋
The UK credit record under your name will be marked as "Gone away" which is sort of like a bigtitme naughty default. It is not an arrestable offence to default on your credit card. The onus is on the credit card companies to prove that you intended to defraud them because (in the UK at least) you are innocent until proven guilty.
Regarding credit record in another country, it depends upon the country. Even within the EU there are big differences in the scrutiny operated by financial institutions. Spain, you'll probably be okay. Switzerland, forget it.
Good luck.
2007-01-12 00:42:20 · answer #4 · answered by chopchubes 4 · 0⤊ 0⤋
credit has nothing to do with the police or criminal law
so no u will not be arrested for not paying them
but your credit will seriously suffer for 6 years
u will be hounded by the companies where ever u go and
u wont get any credit card, bank card, mortgage, finance of any kind
for the next 6 years
so its not worth it
best to make some kind of arrangement with the credit company
even if its £50 a month just pay them that at least for a while
they will fuss about it but eventually they will have to accept any thing u can afford
good luck
2007-01-12 00:33:11 · answer #5 · answered by me 5 · 1⤊ 1⤋
*cough* just remember that you are not much more than a number as it is. Your passport has your social security number and anytime it is used you give the authorities (government) a way of tracking you. If you don't pay off your creditors they will eventually have their case taken to court and if you are a no show a warrant will go out for your arrest although it would be a minor "infraction" once the government catches up with you, you CAN be extrcated and sent back to the U.S. to serve time in prison. You might want to read those agreements you signed when you signed up for the credit cards....you can go to jail for non payment or wind up loosing everything you have in court and if you ever wish to return to the U.S. to live you can also lose the privelige to get a loan for a car, a house, and may even have problems getting a job. So yeah go ahead leave your debtors behind...they'll be here long after YOU have forgetten your debt.
2007-01-12 00:36:15 · answer #6 · answered by Anonymous · 2⤊ 2⤋
I would suggest Australia or New Zealand, wonderful climate, not quite the cesspit of a country that the U.K as become. I would put the cards in an envelope, post them to the credit card agency's with a note saying catch me if you can...Have one last spend befor you post the letter..
2007-01-15 16:04:41 · answer #7 · answered by Anonymous · 1⤊ 0⤋
I had a credit card in the UK. I destroyed it after I left the country but kept on paying it until my debt was clear. Why expose yourself to potentail problems? The past tends to catchup with people.
2007-01-12 00:39:10 · answer #8 · answered by al29252 3 · 1⤊ 0⤋
If they issue an arrest warrant, you could be extradited back to the UK.
Your credit card debt is your responsibility. If you aren't able to pay back what you owe, you shouldn't have spent today's cash yesterday. Fleeing to another country won't solve your problems.
2007-01-12 03:16:35 · answer #9 · answered by Michael L 2 · 0⤊ 1⤋
contact the credit card places and let them know you are having difficulties. do u still have the cards? y wouldn't your credit score be effected? if you are going to another country make a clean slate to start from. then you won't have to worry about it.
2007-01-12 00:41:03 · answer #10 · answered by koifishlady 4 · 0⤊ 0⤋