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Thread: what happens if you owe loads of money but run away

  1. #1

    Default what happens if you owe loads of money but run away

    I've got loads of debt. Mainly credit cards and unsecured loans from different creditors. I'm thinking of moving abroad soon. If I just ran off and ignored my debt problem would I get away with it?

  2. #2
    Senior Member thixty's Avatar
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    yes [10char]
    wax on wax off

  3. #3

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    Thanks. That's a great weight off my mind.

  4. #4

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    Quote Originally Posted by Stubbsy View Post
    I've got loads of debt. Mainly credit cards and unsecured loans from different creditors. I'm thinking of moving abroad soon. If I just ran off and ignored my debt problem would I get away with it?
    Usually the unsecured debts will be sold to tracing agencies. If you re-enter the UK with a six year period they will quite possibly find you using credit reference agencies (the linked address function - won't bore you with details)

    I would speak to a personal insolvency specialist. They could set you up with a legal arrangement called an IVA. These would allow you to legally negotiate a deal with your creditors and within a couple of years maximium you can be debt free and legal. This is far easier than running abroad, which will come back to bite you on the ass in years to come.

  5. #5
    Team Colosseum Tommo's Avatar
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    Yes you would.... I moved abroad for 4 years & had a clean credit history, paid my cards off etc when I went

    I came back to the Uk and cant get shit on credit & just a basic bank account with a cash card, not even a Delta/Maestro thing cos I have no 'history' in the UK for the last 3 years... I wish I had raped the fuckers for thousands!

    It all gets written off after about 3 years so my advice is screw em!

    But dont rip off your steds dealer as he will never forget

  6. #6

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    Just come back in 7 year.....sorted.

    LOL @ bomberh giving serious advice.

  7. #7

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    Bomberth, that makes sense and probably what i'll do. I haven't paid any of them since June and they are goiung a bit mental now and threatening me with court. Just hypothetically though, how would they be able to trace you if you don't apply for further credit anywhere and don't have yourself on the electoral roll at an address?

  8. #8

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    Quote Originally Posted by Stubbsy View Post
    Bomberth, that makes sense and probably what i'll do. I haven't paid any of them since June and they are goiung a bit mental now and threatening me with court. Just hypothetically though, how would they be able to trace you if you don't apply for further credit anywhere and don't have yourself on the electoral roll at an address?
    You don't have to take credit to get an entry on your credit history. Getting a public utility bill or opening / re-activating a bank account will leave a trace on your credit agency file (the part the public can't see) Even using a price comparison site such as confused.com can leave a print on your file.

    I guess it is more than likely that you'll want to live in the UK again. Further, at some point you'll want a bank account (receive wages etc). To be honest it is easier to go bankrupt. The UK has people visit from all over Europe to go bankrupt whilst on UK soil because our laws are so lenient. I would take proper advice.

    Kind regards

  9. #9

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    You will get hunted down and locked up, probably fucked in the ass a little bit, then beaten up, probably fucked a little more and then given the chair.
    Taking this shit, one day at a time.

  10. #10

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    Depends on the level of debt

    we had our car on hp moved away and they found us......we only owed about 2 k on an 8k car

    if you leave and then ccjs are issued but you never recieve them they should clear after 7 years, though if the debt is sold on then that company can persue the debt again and possibly re issue a ccj


    again it depends on the levels of debt

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