I owe over £30K in UK and moving to Ireland. Would there be repercussions if i up and left not telling anyone

Question

I am in a dilema whereby i need to move home for family reasons but on the job front i will not be earning even 60% of what i get here:-( I will be in an awful situation and really don't want to go through IVA's or Bankrupcy...
Has anyone done this before? As in, within the EU, can they trace you or anything? I would be very scared but people are telling me that you can just leave it behind you without saying anything?

I have looked into IVA's and bankruptcy already, but because i am working now here in the UK, i cannot do anything about it! I have to wait until i am missing payments etc before i can do anything which is rediculous... I want to sort it before leaving, this is not something i want hanging over my head. Has anyone ever gone bankrupt?? What does it entail?

Answer 1

you cant escape it will follow you try and sort it out by a mutual meens

Answer 2

Your options to clear debt are;

1. Repay it
2. Arrange an informal repayment programme (Debt Management)
3. Arrange a formal repayment programme (IVA)
4. Go bankrupt

From the top repaying the debt is probably not an option. You may wish to arrange a debt management plan follow this link for more information
http://www.myiva-adviser.com/blog/2006/12/what_is_a_debt_management_plan.php
An IVA is a possibility subject to your qualification follow this link for more information
http://www.myiva-adviser.com/blog/2007/01/iva_do_i_qualify_for_an_iva.php
Then finally to go bankrupt. Follow this link to learn more about bankruptcy.
http://www.myiva-adviser.com/blog/2007/01/bankruptcy.php

These are your choices and it will be for you to make them. Although I don't know all the details on balance I think bankruptcy seems the best option.
I base this opinion on these factors.
1. By discharging your debt before you leave it is dealt with legitimately.
2. When you go to Ireland it is unlikely that your credit record will follow you, therefore possibly allowing you to get credit there.
3. If you do ever return to UK as long as it is 6 years since you were discharged from bankruptcy you can have the information removed from the bankruptcy register.
4. Bankruptcy is a relatively cheap option at £475 in fees and court costs.
5. This has to be a better option to running away with the fear that one day creditors will catch up with you.
6. An IVA may be possible but bankruptcy is as quick and cheaper.
7. You have no mentioned assets or savings that would be taken off you.

Obviously any advice given here is based on limited information. If you would like a more detailed conversation with no obligation call 0800 088 7503 or visit http://myiva-adviser.com

good luck

Answer 3

No there is nothing that can be done to you, but you will get blacklisted, So you won't be able to obtain credit for at least six years, But this can be longer. It depends what sort of person you are, But I would not be frightened you have only got into dept, millions of people are in more dept than you. Its not a criminal offence, Its only a personal dept. The only thing they can do if they trace you is, they can send bailiffs to seize your possessions. And if they find out your working they can put a hold on your wages. Do not tell anyone where you have moved to. Ps Don't worry I owe a £100 grand

Answer 4

Do you really want to be looking over your shoulder for ever and a day. The easiest way is to become bankrupt, painful as it may be,but at least the bailiff won't be turning up unannounced,at home,work or family wedding.
May the luck of the Irish be with you.

Answer 5

I cannot support deliberate dishonesty. You have enjoyed/used the goods and services that you owe the debt on. Others suffer higher interest in order to cover anticipated bad debts.

As for tracing you that depends on a lot of things (especially if you have enemies)

In my view you would be best to go to the citizens advice bureau
and ask about rescheduling debt. There may be other courses of action you can take without giving yourself a criminal record.

What if you need to return to the UK?
What if other relatives here suffer consequences for your selfish actions?

Answer 6

Had a similar experience myself. My advice is you speak to a debt counsellor (i.e. Go to citizens advice) and tackle this before it gets worse.

Unless you do this your creditors will simply pass on your debts to bailiffs and debt collectors who will then charge collection fees additional to your original debts and some hard lad will coming knocking on your door.

Don't worry about all the moralising gits. You have made a few mistakes and are victim of Blairs Britain - A lone sharks paradise. What you need to do now is tackle this problem head on. It will not go away.

Answer 7

They will hunt you down, it is very easy trace people, you might get away with it for a couple of months, and then when you think you are in the clear there will be a knock on the door, guess who? the bailiff and court officials, not worth the risk.

Answer 8

Don't run away, that'll make you a criminal.
Before you go to Ireland, make yourself bankrupt, that way you avoid paying the £30 large--LEGALLY.
Being a bankrupt has consequences: no cards, no credit, etc.
But after a few years your slate is wiped clean and things return to normal.

Answer 9

what sort of a 'new life' are you going to live if you are hiding away. Its more then likely they will catch up with you if you try to obtain credit. Face it bankupcy, at least its over and done with.

Answer 10

when you start create bank accountrs and establish credit in ireland, you might be traced and prosecuted. maybe you should consult a debt counsellor if you don't want to file for bankruptcy.

Answer 11

yes they will follow u and if u get caught u will go to jail for fraud.
u will be better of going in to bankrupcy but they will want to know how u can afford to go a live in ireland.
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