Leave my debt behind?

Question

I've got a load of debt which is a real drag to maintain. I had this idea of leaving the country and emigrating to Japan. Will the debt catch up with me? What will happen? Will I be able to return in the future?

Answer 1

If you incurred the debt, you are legally and morally responsible to pay it back. Running away won't make it go away, and you won't be able to come back unless you plan to deal with it then. Stand up, and do the adult thing here.

In the meantime, you will have a hard time establishing yourself wherever you go. Do you think a bank in Japan or Canada or Germany or Italy or Australia is going to give you credit without checking on your credit history? Do you think you'll be able to go someplace overseas and set up a new life without credit? Do you think you can support yourself for a few months until you get a job without credit? The answers to all these questions better be "No", or you're fooling yourself.

Your best bet is to contact the companies that you owe, and tell them you want to pay them back, but that it's tough to do so. Ask if they can lower the interest rate, and then work out a payment plan with them. THEN, STICK TO THAT PLAN.

Shred all your credit cards but one, and only use it for real emergencies. A new purse or darling little black dress is NOT an emergency, btw. Pay cash for everything else. Get a 2nd job and work evenings or weekends. Quit smoking and drinking, and quit going out for lunch 3 times a week. Carry a brownbag lunch to work - EVERY DAY.

Make a list of ALL of your loans - credit cards, car, house, etc. If you have extra property, like a cottage or land somewhere, sell it - you can't afford it right now.

Sort the rest in order of how much you owe. Make the basic miminum payment on everything except the one with the smallest balance, and put EVERY SINGLE SPARE NICKEL towards that loan. When it's paid off, put all the money you were paying towards that towards the next lowest balance. Keep doing this until you've got everything paid for. You not only will be free financially then, but you'll feel incredibly proud of what you've accomplished - and you should, too!

Good luck - it's not easy, but it's the right thing to do.

Answer 2

If you owe a fair amount of debt - all a creditor needs to do is contact a Japanese solicitor to find you and sue you.

Obviously they wouldn't do this if it wasn't worthwhile. They couldn't do it if you went to rural China or Zimbabwe or somewhere but Japan, well in this information age you might as well be in Birmingham.

If they don't chase you abroad the debts will be waiting for you when you return to the UK. If they get a CCJ against you the debt is enforceable forever (not 6 years).

Now, it used to be the case that creditors wrote off debts quite regularly but you will have read that they are tightening up their bad debt books and complaining about debt write off.

Also you may have visa problems emigrating with debt. Australia and the USA are quite sniffy about debt,

As Christians against Debt say "God will forgive you, Black Horse won't".

Answer 3

Kenoplay has this proper the following, and if the information take position later, your let can, and could be withdrawn, it really is not that the mastercard agencies will seize you, debts are hardly ever actionable or well worth at the same time as chasing the international over, until eventually they're tremendous, yet what they'll tell all and sundry in the international, through the debt files they submit for the market, that lets all and sundry comprehend, who, what, quantity, the position, and what for. Oh, huge, huge, OH..... you do not "comprehend a debt isn't an arrestable offence", undesirable information the following pal, once you've a debt, and also you ought to deliberately default on it, that constitutes a fraud, and that is indictable in regulation, and a criminal offence.... And, pricey, sweet ,naive, PRISSY, you're denied the right to to migrate to any kind of countries exceptionally Australia, usa and Canada, yet no longer to Europe, or South Africa, and as to the position human beings get there suggestion from ? it really is sweet there, in the immigration application papers, that nationality papers should not be issued to everybody who has an uncleared debt of their u . s . of starting place.....many countries, usa protected, gained't enable immigration from aids victims, and Australia will; no longer let any who were previous those who smoke, and not using a sparkling set of x-rays, and guaranteed well being coverage and /or a sponsor that would verify that an immigrant gained't fall financially on it really is well being service, as a burden, at any time of their lives, i ask your self merely the position you get the perception that it really is, all sweetness and gentle, and satisfied, open borders, in this international, merely tremendous Britain, is that stupid, and seem on the top result, a rustic that could no longer fund it really is own pensioners at a factor that does no longer even adventure Greece and it really is human beings, and faces a substantial mission at the same time as the mass immigrastion timebomb reaches retirement age, already some are dealing with retirement a 12 months later by technique of regulation, than their dad and mom, ( myself protected ) and it is going as a lot as 70 for men and females, presently, to pay for immigrants unfunded pensions, many years decrease back, we were dealing with a existence of leisure in our previous age, now we are dealing with operating until eventually eventually we drop, different countries do no longer cope with immigration as a "exciting difficulty", we do, dumb dumb dumb.....

Answer 4

OK, the story: one man had a business. His accountant hold all papers and loads of them had been destroyed in the house fire (it was an accident). 25 years later debt found the Man who created half of it ( papers had been lost about confirmations of payments so he didn't have a proof for much of the lot). But now it was much bigger ( APR, charges ext) and the most unsuitable time to deal with. He lost his 4 bedroom house in a good place.((

Answer 5

Leaving and running is not an OPTION.
Try this instead...

Try this Debt Management Company called direct debt management http://www.direct-debt-management.com.
Its free and no obligation chat with a debt advisor.
They helped me by paying off debt and a one small single payment per month with low interest.
The website is http://www.direct-debt-management.com

Answer 6

You are considering doing this and then going one of the Asian countries that place fiscal honesty in the highest regard!!! Be careful what you try it may come back and bite you in the a~s when you can least deal with it.

Answer 7

umm...that's stealing. A thought like that is why society is going downhill so fast...criminals and theives. Running away from your debt is a selfish act. Don't be an idiot. And don't spend more than you have anymore. Pretty simple.

Answer 8

that does seem a bit drastic. go to your c a b (citizens advice bureau) and get help. do not run from your debt it could well follow you.

Answer 9

You are aware your money came from Japan, right?

They charge 0.5% annually over there.

Answer 10

i had loads of debt...credit cards loans ect...i just stopped paying and when the baliiffs came my mum said i moved away and that was 7 years ago...fcuk em they earn enough out of us!!!!!!!! p.s i owed about 15k