I am going to move abroad and I have few debts. To what amount should I realistically expext banks and credit cards to chase me abroad?
2007-02-01 11:42:55 · 17 answers · asked by georgia i 1 in Business & Finance ➔ Personal Finance
Ok. I have to make a couple of things clear.
1st I am a foreigner 2nd I MUST go home 3rd I know I will not able to pay the debt from there 4th I am in trouble
2007-02-01 12:02:26 · update #1
DONT BUY "STUFF" ON TICK THAT YOU CANT AFFORD.
2007-02-01 11:48:21 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you acknowledge a debt (i.e phone the debt collecting agency) it will be ANOTHER 6 years to wait til it goes statute ! You are best to ignore them and not reply. Just, make sure you change your bank account. Get a basic one that doesnt require a credit check, then they will have very little chance of catching up with you. The only way a debt can be written off is if you have a disability. You should give debtline a phone, they are very good at dealing with these sort of things. They can send you out scripts to send to the companies, making token payments of 50p a week cause you have so many other commitments. If a collection agent comes to your door, remember that they are nothing special. They have no powers and you are entitled to slam the door in their face and laugh whilst doing so !! Good luck ############ Re: will someone turn up at your door. They could, but there's not a lot they can do to be honest! (unless they have a warrant of sale or summit) They take different action for different things. Things like utilities (gas, electricity, community charge) have severe legal consequences, whereas things you have on HP or credit are less severe (catalogues, tv's etc) You could work out a payment plan, and pay them at a ten quid a week. It's your choice.. don't let their red letters get to you though. They are worded to sound threatening
2016-03-29 00:40:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Once you become a deadbeat, skip, you can expect the bank or credit card company to give the debt to a credit collection agency if it is below $2,500. Above that amount the company will usually take the case to a lawyer or in-house attorney to get a court judgment. Because you will be overseas, they will get a summary judgment that they will hold against you till you die. As soon as you get back to the states, and get a job, or try to buy a house, they will get a lien against you and collect eventually.
Why do you want to stick it to the other debt holders, credit card holders and stockholders? They are the ones who will be paying off your debts.
2007-02-01 11:50:23 · answer #3 · answered by The Parthian 3 · 1⤊ 1⤋
Consolidating debt is an ideal way to reduce your amount and tenure of debt. You make a single payment to one lender on a certain date and this will help you clear off the debts faster. But the fact remains that debt
2007-02-01 15:46:04 · answer #4 · answered by stew w 2 · 1⤊ 0⤋
I would go & forget about them after a few years the companies will be able to claim off there insurence.I do not think they will chase you abroad it will cost them too much.
2007-02-04 22:50:02 · answer #5 · answered by Ollie 7 · 0⤊ 0⤋
You will be astonished of how they can hound you. You are exactly the type of person we don't want in our country. Your name will go down on that list that they look at when you try and come in the country. I was owed money from someone who went to South Africa. I found his address by detective work and wrote not to him but to his neighbour. He didn't like that one bit but his neighbour knew not to lend him any garden tools
2007-02-02 06:55:20 · answer #6 · answered by Professor 7 · 0⤊ 0⤋
It depends on who you have the debt with. Many companies now have affliliates overseas, and it's much harder to "run" away from a debt now.
2007-02-01 11:47:49 · answer #7 · answered by gene m 3 · 1⤊ 0⤋
These days they will blacklist you internationally if you default. You would be surprised to find how much this affects your life. Honesty really is the best policy ...... for you.
2007-02-02 21:04:06 · answer #8 · answered by fred35 6 · 0⤊ 0⤋
they wont, and you only need to move next door, not accross the globe.
but when you return you will find you can't get credit. anywhere
2007-02-01 11:47:20 · answer #9 · answered by Anonymous · 2⤊ 0⤋
They wont chase you, but your credit rating will always find you...
2007-02-01 11:46:54 · answer #10 · answered by Buster Hymen 3 · 2⤊ 0⤋
They may not but your rating will be rubbish when you come back!
Get honest and pay up.
2007-02-01 11:46:17 · answer #11 · answered by jannyjamjar 2 · 3⤊ 0⤋