UK debt unmanageable.. Been in NZ 6 years
Apr 14th 2020, 12:11 am
#1
Just Joined
Thread Starter
Joined: Apr 2020
Posts: 1
UK debt unmanageable.. Been in NZ 6 years
Hiya... Not sure if this is the right place to post this.
I moved to NZ just over six years ago and am now a permanent resident..
I have a large amount of credit card debt in the UK. I've been paying the monthly minimum for six years and moving them around onto 0% interest balance transfers etc. But now with coronavirus (and a failed business attempt earlier this year) this is becoming harder and harder. I don't know what to do.
Please no lectures on borrowing... Young dumb and I know I was a bit of an idiot to rack up so much debt.
I've even looked into bankruptcy.
The Internet is an overflowing space of information and I don't know what sites to trust and what not...
Does anyone have any experience with debt charities or consolidation etc?
I wasn't sure if this was the right place to post this. Please advise if not.
Thanks heaps in advance.
I moved to NZ just over six years ago and am now a permanent resident..
I have a large amount of credit card debt in the UK. I've been paying the monthly minimum for six years and moving them around onto 0% interest balance transfers etc. But now with coronavirus (and a failed business attempt earlier this year) this is becoming harder and harder. I don't know what to do.
Please no lectures on borrowing... Young dumb and I know I was a bit of an idiot to rack up so much debt.
I've even looked into bankruptcy.
The Internet is an overflowing space of information and I don't know what sites to trust and what not...
Does anyone have any experience with debt charities or consolidation etc?
I wasn't sure if this was the right place to post this. Please advise if not.
Thanks heaps in advance.
Apr 14th 2020, 2:05 am
#2
Concierge
Joined: Jan 2013
Location: Western Australia
Posts: 21,138
Re: UK debt unmanageable.. Been in NZ 6 years
Hi and welcome to BE. This organisation, a debt charity, is recommended in the UK by the Citizens Advice Bureau so would be trustworthy. It's free to use and offers online advice, hopefully they'll be able to help you https://www.stepchange.org/
Best of luck.
Best of luck.
Apr 14th 2020, 5:20 am
#3
Forum Regular
Joined: Jun 2018
Posts: 293
Re: UK debt unmanageable.. Been in NZ 6 years
Iv know quite a few people in laws and mates that have had todo debt freeze before going bankrupt.
They freeze the interest and put all the debt into one manageable account. the debt has no interest rates.
I imagine if your in NZ the would be more than happy it's better than just not paying it.
Only problem is if your planning on going back to the UK. It will mess your credit.
If you have assets in the UK.
They freeze the interest and put all the debt into one manageable account. the debt has no interest rates.
I imagine if your in NZ the would be more than happy it's better than just not paying it.
Only problem is if your planning on going back to the UK. It will mess your credit.
If you have assets in the UK.
Apr 14th 2020, 6:11 am
#4
BE Forum Addict
Joined: Jun 2012
Location: Narangba QLD
Posts: 1,513
Re: UK debt unmanageable.. Been in NZ 6 years
You do know you lost the right to hold a UK credit card when you became normally resident in NZ aye ?
Apr 14th 2020, 6:49 am
#5
Truth is the safest lie.
Joined: Jul 2008
Location: @ the beach.
Posts: 7,240
Re: UK debt unmanageable.. Been in NZ 6 years
Contact those companies and talk to their credit/collections department. If they sell the debt on to a collector they'll probably get cents on the dollar and consequently would likely far rather reach an arrangement with you.
One of my first jobs was handling accounts in arrears and default.
One of my first jobs was handling accounts in arrears and default.
Apr 14th 2020, 12:20 pm
#7
BE Forum Addict
Joined: Jan 2017
Posts: 2,900
Re: UK debt unmanageable.. Been in NZ 6 years
Contact those companies and talk to their credit/collections department. If they sell the debt on to a collector they'll probably get cents on the dollar and consequently would likely far rather reach an arrangement with you.
One of my first jobs was handling accounts in arrears and default.
One of my first jobs was handling accounts in arrears and default.
Apr 15th 2020, 10:14 am
#8
BE Forum Addict
Joined: Jun 2012
Location: Narangba QLD
Posts: 1,513
Re: UK debt unmanageable.. Been in NZ 6 years
Have still got the UK bank account and other UK based investments. Nothing illegal about that, however we have not got UK credit cards anymore. The UK bank simply refused to renew them as we didn't remain eligible, as a condition of holding a UK credit card is that you are normally resident in the UK. It is there as a condition in the smallprint. Im sure one could easily get one by telling porkies and giving them a relatives or friends UK address but as I said that'd be committing fraud just so you can continue to play the 0% transfer game with your UK debt, especially when you've lived and worked in NZ the past 6 years.
Apr 15th 2020, 10:24 am
#9
Forum Regular
Joined: Jun 2018
Posts: 293
Re: UK debt unmanageable.. Been in NZ 6 years
Yup. So did we.
Have still got the UK bank account and other UK based investments. Nothing illegal about that, however we have not got UK credit cards anymore. The UK bank simply refused to renew them as we didn't remain eligible, as a condition of holding a UK credit card is that you are normally resident in the UK. It is there as a condition in the smallprint. Im sure one could easily get one by telling porkies and giving them a relatives or friends UK address but as I said that'd be committing fraud just so you can continue to play the 0% transfer game with your UK debt, especially when you've lived and worked in NZ the past 6 years.
Have still got the UK bank account and other UK based investments. Nothing illegal about that, however we have not got UK credit cards anymore. The UK bank simply refused to renew them as we didn't remain eligible, as a condition of holding a UK credit card is that you are normally resident in the UK. It is there as a condition in the smallprint. Im sure one could easily get one by telling porkies and giving them a relatives or friends UK address but as I said that'd be committing fraud just so you can continue to play the 0% transfer game with your UK debt, especially when you've lived and worked in NZ the past 6 years.
Banks wont give you credit cards or give you a loan.
I got told when I changed my account and address before I moved.
I could still get one because my accounts are still in a UK address but your suppose to declare your living abroad. yeah its fraud.
Apr 15th 2020, 1:19 pm
#10
BE Enthusiast
Joined: May 2010
Posts: 526
Re: UK debt unmanageable.. Been in NZ 6 years
Yup. So did we.
Have still got the UK bank account and other UK based investments. Nothing illegal about that, however we have not got UK credit cards anymore. The UK bank simply refused to renew them as we didn't remain eligible, as a condition of holding a UK credit card is that you are normally resident in the UK. It is there as a condition in the smallprint. Im sure one could easily get one by telling porkies and giving them a relatives or friends UK address but as I said that'd be committing fraud just so you can continue to play the 0% transfer game with your UK debt, especially when you've lived and worked in NZ the past 6 years.
Have still got the UK bank account and other UK based investments. Nothing illegal about that, however we have not got UK credit cards anymore. The UK bank simply refused to renew them as we didn't remain eligible, as a condition of holding a UK credit card is that you are normally resident in the UK. It is there as a condition in the smallprint. Im sure one could easily get one by telling porkies and giving them a relatives or friends UK address but as I said that'd be committing fraud just so you can continue to play the 0% transfer game with your UK debt, especially when you've lived and worked in NZ the past 6 years.
Maybe its just your bank?
The same when I moved back to the UK.
I've still got a Westpac account and until recently had their credit card too. They offered to renew it but I never bothered!
Last edited by Robbie2010; Apr 15th 2020 at 1:23 pm.
Apr 15th 2020, 10:44 pm
#11
Truth is the safest lie.
Joined: Jul 2008
Location: @ the beach.
Posts: 7,240
Re: UK debt unmanageable.. Been in NZ 6 years
Was never an issue for me but I never explicitly asked. I just updated my address to a New Zealand one and they sent my statements and replacement cards to my New Zealand address. 
