Debt management

Old Oct 19th 2007, 12:39 pm
  #1  
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Default Debt management

Hi all,
planning on moving out relatively soon to NZ, next 6 months or so, and the plan was always to clear debts with the house sale and be free for the first time in about 10 years! Trouble is, I've just added it up, and its a tad more than i thought it was.... I've been chatting to friends and family and get a standard 'So? Just leave them, you're not coming back right?' Surely it can't be that easy? Has anyone done a runner or know someone who has and what was the story? Does it work?
Morally, I think I could live with myself, maxing the cards out before I go would ease the guilt i guess, but being deported and having to pay it back doesn't sound good... can they find you in NZ?
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Old Oct 19th 2007, 12:56 pm
  #2  
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Default Re: Debt management

Originally Posted by pompeybrood View Post
Hi all,
planning on moving out relatively soon to NZ, next 6 months or so, and the plan was always to clear debts with the house sale and be free for the first time in about 10 years! Trouble is, I've just added it up, and its a tad more than i thought it was.... I've been chatting to friends and family and get a standard 'So? Just leave them, you're not coming back right?' Surely it can't be that easy? Has anyone done a runner or know someone who has and what was the story? Does it work?
Morally, I think I could live with myself, maxing the cards out before I go would ease the guilt i guess, but being deported and having to pay it back doesn't sound good... can they find you in NZ?
Don't do it.

This isn't out of moral obligation to the finance co's, it's becasue you don't have a crystal ball and being blacklisted will most likely effect your ease of returning to the UK, should you decide to.
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Old Oct 19th 2007, 1:14 pm
  #3  
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Default Re: Debt management

Originally Posted by pompeybrood View Post
Hi all,
planning on moving out relatively soon to NZ, next 6 months or so, and the plan was always to clear debts with the house sale and be free for the first time in about 10 years! Trouble is, I've just added it up, and its a tad more than i thought it was.... I've been chatting to friends and family and get a standard 'So? Just leave them, you're not coming back right?' Surely it can't be that easy? Has anyone done a runner or know someone who has and what was the story? Does it work?
Morally, I think I could live with myself, maxing the cards out before I go would ease the guilt i guess, but being deported and having to pay it back doesn't sound good... can they find you in NZ?
Yes they can find you, Inland Revenue can anyway, I recieved a £50 cheque from them a couple of weeks ago
NZ has pretty close links with the UK I think with tax issues etc. so I for one wouldn't risk it.
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Old Oct 19th 2007, 2:57 pm
  #4  
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Default Re: Debt management

Originally Posted by pompeybrood View Post
Hi all,
planning on moving out relatively soon to NZ, next 6 months or so, and the plan was always to clear debts with the house sale and be free for the first time in about 10 years! Trouble is, I've just added it up, and its a tad more than i thought it was.... I've been chatting to friends and family and get a standard 'So? Just leave them, you're not coming back right?' Surely it can't be that easy? Has anyone done a runner or know someone who has and what was the story? Does it work?
Morally, I think I could live with myself, maxing the cards out before I go would ease the guilt i guess, but being deported and having to pay it back doesn't sound good... can they find you in NZ?

Hi ya I've pm'd you
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Old Oct 19th 2007, 9:16 pm
  #5  
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Default Re: Debt management

Originally Posted by pompeybrood View Post
Hi all,
planning on moving out relatively soon to NZ, next 6 months or so, and the plan was always to clear debts with the house sale and be free for the first time in about 10 years! Trouble is, I've just added it up, and its a tad more than i thought it was.... I've been chatting to friends and family and get a standard 'So? Just leave them, you're not coming back right?' Surely it can't be that easy? Has anyone done a runner or know someone who has and what was the story? Does it work?
Morally, I think I could live with myself, maxing the cards out before I go would ease the guilt i guess, but being deported and having to pay it back doesn't sound good... can they find you in NZ?
hi jacky g here....why don't you aroach the company's and offer them a settlment figure....we had car loans,credit cards etc,we wrote to them and told them we were emigrating and this is what we want to pay and they agreed,cut a huge chunk of the loan,and it was money in our pocket..there is always room for negotiation..i would definitely say pay them off,

we came here and decided this was going to be debt free life,no car loans,no debt....its a good feeling..
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Old Oct 20th 2007, 5:39 am
  #6  
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Default Re: Debt management

First, I must say I am surprised that you would think that it would be OK or that a spend up on the credit cards would make you feel better. Even if you propose a debt settlement with your creditors, yo uwill find that if you return to the UK you may not be able to borrow money or if you can, it will be at higher rates.
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