Paying off Your UK Debts

[Widge 0]

I have three large debts in the UK loan/overdraft/credit card all of which I have been paying since I have been here (two don't even know I have left the country lol). The banking system here is a nightmare and archaic and so do not rely on it to be helpful especially if you are going to be living in the sticks ( I cant even get foreign currency here at any bank !!!!!) The answer is to use paypal but DO make sure you set up a UK paypal account with the UK bank before you leave (I didn't and as my UK bank account now has my USA address I can't get the account verified). you then transfer effectively from yourself to paypal in USA to yourself paypal UK and from there to your bank. All UK banking is done online and I have had no problems with that in two years (Halifax).

With regard to leaving/abandoning all debt forgetting the moral side of it I am not prepared to completely wipe out an excellent credit record in the UK when it is impossible to predict the future I have absolutely no idea what tomorrow may bring any number of situations could mean that I or we may return to the UK in the future and with every other headache that would bring adding zero or worse credit rating wouldn't be easy.

I also seem to recall a situation where someone had their UK debt sold off to a US debt chasing agency and ended up in a worse mess than they started at but cannot recall any details.

[Fandango 1,439]

I have three large debts in the UK loan/overdraft/credit card all of which I have been paying since I have been here (two don't even know I have left the country lol). The banking system here is a nightmare and archaic and so do not rely on it to be helpful especially if you are going to be living in the sticks ( I cant even get foreign currency here at any bank !!!!!) The answer is to use paypal but DO make sure you set up a UK paypal account with the UK bank before you leave (I didn't and as my UK bank account now has my USA address I can't get the account verified). you then transfer effectively from yourself to paypal in USA to yourself paypal UK and from there to your bank. All UK banking is done online and I have had no problems with that in two years (Halifax).

With regard to leaving/abandoning all debt forgetting the moral side of it I am not prepared to completely wipe out an excellent credit record in the UK when it is impossible to predict the future I have absolutely no idea what tomorrow may bring any number of situations could mean that I or we may return to the UK in the future and with every other headache that would bring adding zero or worse credit rating wouldn't be easy.

I also seem to recall a situation where someone had their UK debt sold off to a US debt chasing agency and ended up in a worse mess than they started at but cannot recall any details.

That is quite interesting actually, I'm going to search for any posts on this later on.

[ladybutterfly 0]

I have three large debts in the UK loan/overdraft/credit card all of which I have been paying since I have been here (two don't even know I have left the country lol). The banking system here is a nightmare and archaic and so do not rely on it to be helpful especially if you are going to be living in the sticks ( I cant even get foreign currency here at any bank !!!!!) The answer is to use paypal but DO make sure you set up a UK paypal account with the UK bank before you leave (I didn't and as my UK bank account now has my USA address I can't get the account verified). you then transfer effectively from yourself to paypal in USA to yourself paypal UK and from there to your bank. All UK banking is done online and I have had no problems with that in two years (Halifax).

With regard to leaving/abandoning all debt forgetting the moral side of it I am not prepared to completely wipe out an excellent credit record in the UK when it is impossible to predict the future I have absolutely no idea what tomorrow may bring any number of situations could mean that I or we may return to the UK in the future and with every other headache that would bring adding zero or worse credit rating wouldn't be easy.

I also seem to recall a situation where someone had their UK debt sold off to a US debt chasing agency and ended up in a worse mess than they started at but cannot recall any details.

That is quite interesting actually, I'm going to search for any posts on this later on.

But how would any debt company in the UK know you are now living in the USA? For all they know you are still living in the UK!

[munchkins 0]

there is a very good site regarding the"debt chasers" if I can find it again I will post it, it's interesting to say the least about what they are and are not able to do

I actually know someone who 20 years ago moved over to the states and left a £100,000 tax bill unpaid and the couple are still in the states, struggling to stay there at the moment as they did it the wrong way so they just go to Spain for 6 months of every year and then back to the states to the business they own. Seems to be working for them with the lawyer they have working on their behalf.

If the Inland Revenue do not chase you why should anybody else?? We also have it on good authority that if any debt is below £10,000 it will just be written off and you will be made bankrupt in your absence, the chance you take if you decide not to pay of your debts is if you are going to come back to the UK

At the end of the day it is each to his own

[Mags 112]

I, personally, couldn't leave any debt unpaid. The basic fact is that you have stolen this money. Steal money and you are a criminal in my eyes. If you borrow money and don't pay it back, you are stealing. If you use a credit card and don't pay it back, you are stealing. That money isn't yours to keep. Nor the goods you purchased...

You can't say it is right to leave this debt. It isn't.

I understand that there may be unmitigating circumstances...but the better person would face up to their debts and pay them, rather than running away.

Just my £0.02.

[munchkins 0]

I am not saying that it is right, I am lucky as I do not have any debt at all, never use credit cards. I learnt the hard way but people do do it and that is why I say each to their own, it is up to themselves and their own conscience.

A Lot of people will say that it is "pay back time" as the credit card companies etc have no conscience when they practically throw money at people and then come all heavy handed and threatening when the very same people they have thrown money at get into difficulties through no fault of their own. And it is Ok to say well those people should not have been so irresponsible, there are mitigating circumstances in so many cases.

[Mags 112]

I am not saying that it is right, I am lucky as I do not have any debt at all, never use credit cards. I learnt the hard way but people do do it and that is why I say each to their own, it is up to themselves and their own conscience.

I agree. My comment wasn't directed at you btw!

[munchkins 0]

I know that Mags,

By the way, just who's are those cats climbing that Christmas tree, not yours I hope

Edited December 1, 2006 by munchkins

[Mags 112]

I know that Mags,

By the way, just who's are those cats climbing that Christmas tree, not yours I hope

Nah, although I think mine have been known to try...