djdutts

Hmmmmmmmm.

Tricky one.

I'm caught between the devil and the deep blue sea - literally! Got a couple of credit cards in the UK and to be honest, they have really mucked me around and taken the p*ss. They have been charging the earth and it really makes me think.

Is there anything to stop me just leaving for Oz?? The house will be sold etc, but these companies budget for losses - eg bad debt. They write off certain amounts every year - they expect it. I know that it's a clean slate over in Oz, so what do I do? After all, that money would be put to better use over there!

Hmmmmmmmm. What to do............

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mlbonner

While I see your point, who do you think picks up the bill of people who leave without paying I'm still paying off my UK credit card bill, its not a huge amount but it feels a lot bigger on Aussie dollars. Personally my conscience wouldn't allow me to just leave. I guess only you can decide what to do at the end of the day.

tiredwithtwins

yes, but by charging huge fees and high interest rates to existing good customers!

no, they sell the debt on to a debt collection agency who then hound you for the money - whats to say the company they sell it on to isnt an international company who can trace you in aus? watch the global challenge boats - half of the sponsors on those sails are international debt collection companies.

do the honest and decent thing and pay your debts.

rob&lucy

I wouldn't just leave, try and pay as much off as you can, and find out about payments online or from another country, the debt wont just dissapear, it will sit there gathering interest and if you ever try to do any banking or apply for anything in the uk it will pop up as bad credit, remember visa/mastercard are international companies, and they will catch up.
I know it seems like a possibility to just up and leave but you never know whats down the line and if you ever get labelled with bad credit it takes years to get it taken off your credit file and you cannot get anything, not even a mobile phone, let alone mortgage,loan, credit cards or finance even if you have paid the debt back in full.
I just don't think its worth it, but thats my opinion.

wargod

Personally i would pay them off. A bad credit rating will hound you wherever you are.

4500 Times

Just paid ours off in full :scared: :scared:
A bit unfair as Debs did all the spendin'

Do the decent thing and pay it off

sharkin

This has been discussed before with interesting comments from some people who worked in the credit card companies. Apparently they can't track you to Oz and afetr X no of years (I think7) your credit rating in the UK is cleared so if you aren't coming back within that time to claim credit....

djdutts

It's 6 years and then the debt is cleared, including your history.

Other people do not pick up the bill. Like what's already been said, it's passed on to debt collection agencies. If they can't recover the debt, the agency simply passes it onto another agency for less etc etc.

I'm still not sure if they will track you down abroad. In fact, I'd hazard a guess to say I bet they won't. Plus these major organisations do budget for losses - providing credit is a risk, they know this.

Hmmmmmm.

tiredwithtwins

look at it from worse case scenario - you have to move back to the uk = you go tits up cos you cant get any credit for SIX years - thats a bluddy long time!!

djdutts

Yeah I agree.

But also, there is the argument that not being able to get credit is a good thing (apart from mortgages!).

Not having a credit card again, not being able to get a loan..... Not actually a bad idea.

moneypenny20

Stop winding people up Just pay it off.

ABCDiamond

They don't sell it on for the full value, maybe 40% or so ? Therefore everyone else will have to pay a bit more to cover the shortfall.

After 6 or 7 years, the company may no longer be able to chase you, but they are allowed to keep your debt on the file, and if you apply to them, or a linked company, in the future, they may be able to refuse you service or credit.

I heared that someone isn't able to get a telephone line installed again due to and old Telephone debt.

It's actually a strange question from someone who is advertising mortgage services ?

Stewie

You applied for the card...you incurred the debt...you pay it off...simple

rapitts

You can just leave and not pay the cards, as long as nobody informs them that you moved to Australia (neighbours, friends, etc) as they will trace you here otherwise.

Credit cards/Debit is recorded against your U.K. address with your name and dob, thats why when you are asked for previous addresses on application forms, however having said that there are special agencies which deal with tracking down people in the U.K., any credit reference is recorded against a address, this may be for simple things, phone, etc.

So basically if you moved within the U.K. to another address and didnt inform the credit card company, within severals months they will probably find you if you had applied for any type of credit, added to some mailing list,etc. (this includes you bank statements)

There are massive of databases which hold this information in the U.K.

So thats basically how the system works in the U.K. so if you moved overseas it gets a bit hard to locate just one person, you could have moved to spain, USA, etc. all they have is your DOB and name to search on.

It depends on you if you want to take the risk. I think the credit card companies in the U.K. are a pain in the arse lending people money, its all profit and profit, they dont really care. When I meet my partner her credit bills were stupid, she basically used some of the money from her house sale to pay it. But having said, if you do think about not paying your bills and leaving, make sure you have learnt your lesson with credit cards !!!!

CreditCardKing

I don't see any point in paying off your card if you have nothing to loose, I personally would pay it because my parents still live in the UK and when they leave there estate to me in 30 or 40 years I don't want debt collectors knocking on my door and believe me they will, the banks don't just forget about your debt they will keep it on file and as soon as you get some money into your hands then they will want their share.