what methods to debt collectors use to chase debt in another country does anyone know ? If you buy a house can they find you, serious answers please
2007-02-22 23:20:42 · 16 answers · asked by rehad 2 in Business & Finance ➔ Credit
Just pay your debts. You can afford to buy a house abroad after all.
2007-02-22 23:25:11 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Please try to settle your debts before you leave. As one poster has observed, things may not work out in the new country and if you have to return to the UK you will have serious issues to face. Having said that, many debts can only be pursued under English (or Scots) Law. Now what that means in practice is that they can send the debt to a debt collector in the other country, but it cannot be enforced.
Renting a house can also help a debt collector to find you. Here in the USA rent payments get reported to credit bureaus too. Even one credit application will get you a credit file at one of the big three (at least).
2007-02-23 07:59:27 · answer #2 · answered by skip 6 · 0⤊ 1⤋
If you're trying to buy a house in the U.S., the mortgage company here is going to check your credit in the U.K. They're not idiots, you know. It's not like you can move from one country to another and get a clean slate. Your credit history follows you around.
And yes, they can chase you to another country. All they have to do is find a debt collector in that country to start harassing you again. Moving doesn't make it go away. If the debt is fairly small, then it probably wouldn't be worth their while to chase you around the world but if it is a significant amount of money, they likely will.
2007-02-23 07:30:29 · answer #3 · answered by Faye H 6 · 0⤊ 2⤋
They may not be able to chase you for the debt and force payment in another country, but the big debt collection agencies are now all over Europe and they have lots of ways of keeping tabs on you. What you also need to bear in mind is that banks in other countries may well ask for a reference from your UK bank, plus an up to date credit reference from Experian, we know this as friends with an estate agent and he mentioned this when we last saw him, banks in other countries are tightening up on their lending as many have been duped by people before. Information may well be shared behind the scenes, while many EU countries abide by the Data Protecion Act, they have differences and may well breach it openly when asked about foreigners, I have seem examples with my own eyes!
2007-02-23 14:08:11 · answer #4 · answered by SunnyDays 5 · 0⤊ 0⤋
Forget most of what you have been told, the truth is they can't catch up with you and after 6 years you slate is wiped clean. I know for a fact it can be done (my brother did it) He now has good credit in the states. The debt collectors letters stoped coming after a while, If they can't find you they can't touch you.
2007-02-23 07:51:13 · answer #5 · answered by cross 2 · 1⤊ 0⤋
You may be made bankrupt in your absence from the UK if they cannot find you.
What if it does not work out in your new country and you want to come back.
By running away from your debts you in my opinion are being fraudulent. The rest of us will pay for your debts in increased costs.
2007-02-23 07:45:22 · answer #6 · answered by Mark J 5 · 0⤊ 0⤋
They can find you anywhere, it's not worth the risk try to run from them!
I moved from the UK in 2002, I was in debt and I still am, but i am slowly paying it off. I would advise getting in touch with your debtors and arranging a payment plan, the worry will drive you crazy if you just leave without sorting it out.
2007-02-23 07:25:46 · answer #7 · answered by Nickynackynoo 6 · 1⤊ 1⤋
I heard that if a person left the UK to come to US that in 5 yrs their debt would be erased. Not sure how true, but worth looking in to.
2007-02-23 07:24:21 · answer #8 · answered by JusMe 5 · 0⤊ 0⤋
I don't think the debt collectors will get you but immigrations will, and they won't allow you to stay unless you can prove that you can support yourself and have a job to go to............all of this, of course depends totally on your circumstances and which country you are going to live in. ie do you have to work? are you related to someone from that county?, do you have dual nationality? Is your husband working there? etc. etc.
2007-02-23 07:26:48 · answer #9 · answered by doingitallforwrenches 3 · 1⤊ 0⤋
in another country doubt it, ive known lots of people who have had tons of debt and no one has caught up with them
but depends who your debt is with really if you owe thousands they may search for you but for a couple of hundred they wont bother
2007-02-23 07:24:42 · answer #10 · answered by ♥♥™Tia™♥♥ 6 · 0⤊ 0⤋