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Debt Help needed

Debt Help needed

Old Nov 17th 2004, 9:18 am
  #1  
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Default Debt Help needed

I divorced a few years ago leaving me nothing but the debt which included around 25,000 gbp with 3 credit cards. I moved to the US 2 years ago and due to health reason, didn't work for a while, therefore nothing was paid. I then secureda low paid job and with the help of a debt management co. in the UK I managed to negotiate a monthly payments to the card companies. (My new girlfriend also helped me meet the payments). With the exchange rate the way it is and with wiring costs I just found it impossible to pay these every month, so done the real sensible thing and stuck my head in the sand and stopped paying them.
Now out of the bluse a company calls me from Illinois, claiming to have bought MBNA card debt and info and they now want payment. My 2 questions are:
1. Does this mean I now have bad debt in the UK and the US?
2. Is it legal to sell my debt and info to a US company?

Thanks in advance.
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Old Nov 17th 2004, 1:12 pm
  #2  
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Default Re: Debt Help needed

Originally Posted by peregrine
1. Does this mean I now have bad debt in the UK and the US?
2. Is it legal to sell my debt and info to a US company?

Thanks in advance.
yes
and
yes
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Old Nov 17th 2004, 1:27 pm
  #3  
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Default Re: Debt Help needed

Originally Posted by peregrine
so done the real sensible thing and stuck my head in the sand and stopped paying them
At which point do people believe that not paying back their debts is a sensible idea???

I left the UK with three credit card balances and a personal loan all of which get paid monthly. I would never consider sticking my head in the sand with them. It's irresponsible.

Grow up and pay your debts.
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Old Nov 17th 2004, 2:37 pm
  #4  
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Default Re: Debt Help needed

Originally Posted by rincewind
At which point do people believe that not paying back their debts is a sensible idea???

I left the UK with three credit card balances and a personal loan all of which get paid monthly. I would never consider sticking my head in the sand with them. It's irresponsible.

Grow up and pay your debts.

Manc, thanks for the straight forward answers, just as I thought really.

Rincewind, At which point did I say that not paying the debts were a sensible idea????
I came on here to seek some advice regarding something, what I didn’t ask for or deserve is some self righteous tosser giving me a lecture on growing up and responsibilities. You have no idea what my personal circumstances are, except for the ones I described and I didn’t go into a lot of detail about it. I think if you knew anything of my past, you may not have been so quick to judge, than again, maybe not.
Anyway, I’m happy that your life is moving on nicely, but maybe you should look outside your own insular views and see that some people maybe aren’t as lucky as you, with regards to earning, health, etc.
Thanks again for the advice..
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Old Nov 17th 2004, 2:47 pm
  #5  
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Default Re: Debt Help needed

If you've really got nothing it sounds like you might be a good candidate for bankruptcy. The company in IL will end up with next to nothing and no way to reclaim it. The obvious question is whether the other two compaines will wait for you to clear US bankruptcy before they move your debts over here.

BTW, I should stress that I'm no lawyer so take that advise with a big salty pinch of salty salt.
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Old Nov 17th 2004, 2:47 pm
  #6  
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Default Re: Debt Help needed

Originally Posted by peregrine
I divorced a few years ago leaving me nothing but the debt which included around 25,000 gbp with 3 credit cards. I moved to the US 2 years ago and due to health reason, didn't work for a while, therefore nothing was paid. I then secureda low paid job and with the help of a debt management co. in the UK I managed to negotiate a monthly payments to the card companies. (My new girlfriend also helped me meet the payments). With the exchange rate the way it is and with wiring costs I just found it impossible to pay these every month, so done the real sensible thing and stuck my head in the sand and stopped paying them.
Now out of the bluse a company calls me from Illinois, claiming to have bought MBNA card debt and info and they now want payment. My 2 questions are:
1. Does this mean I now have bad debt in the UK and the US?
2. Is it legal to sell my debt and info to a US company?

Thanks in advance.
;p

You have posted in what is pretty much a public forum so don't be surprised that you get responses that might come across as critical. If you can't take the criticism, you shouldn't have posted in such a public place.

I do not know the answers to your questions but if I were in your shoes, I'd search on the web to see whether you in fact have bad debt in both the UK and US. Whatever the answer may be, you should have researched this before, as you put it sticking "your head in the sand and stopped paying them".

As you may be aware, leaving the UK with outstanding debts would probably cause you major problems should you ever wish to live in the UK in the future.




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Last edited by NC Penguin; Nov 17th 2004 at 2:56 pm. Reason: Spelling errors
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Old Nov 17th 2004, 2:50 pm
  #7  
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Default Re: Debt Help needed

Originally Posted by peregrine
Manc, thanks for the straight forward answers, just as I thought really.

Rincewind, At which point did I say that not paying the debts were a sensible idea????
I came on here to seek some advice regarding something, what I didn’t ask for or deserve is some self righteous tosser giving me a lecture on growing up and responsibilities. You have no idea what my personal circumstances are, except for the ones I described and I didn’t go into a lot of detail about it. I think if you knew anything of my past, you may not have been so quick to judge, than again, maybe not.
Anyway, I’m happy that your life is moving on nicely, but maybe you should look outside your own insular views and see that some people maybe aren’t as lucky as you, with regards to earning, health, etc.
Thanks again for the advice..
You are so welcome

Before coming to a forum, how about learning to structure your posts to actually say what they mean. Sentences such as "so done the real sensible thing and stuck my head in the sand and stopped paying them" sort of gives the impression that you don't feel paying your debts is important.

If that is not what you meant, I suggest rewording to make your point more clear.

As for me being lucky, I am no such thing. I struggle every day to make ends meet and to ensure my debts are covered back in England as well as paying my bills here. You have no idea of my personal circumstances either.

When I read posts that suggest non-payment of debts, it kinda pisses me off. And there have been plenty of threads where people seem to think they can just walk away from their responsibilities.

As advice, speak to a financial advisor who would be more than happy to take your money just so you can feel like you've done something.

And I have looked inside myself. I like what I see. It makes me warm and fuzzy.

Last edited by rincewind; Nov 17th 2004 at 2:53 pm.
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Old Nov 17th 2004, 3:24 pm
  #8  
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Default Re: Debt Help needed

Originally Posted by rincewind
And I have looked inside myself. I like what I see. It makes me warm and fuzzy.
Sure that's not the booze?
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Old Nov 17th 2004, 3:35 pm
  #9  
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Default Re: Debt Help needed

Originally Posted by peregrine
Manc, thanks for the straight forward answers, just as I thought really.

Rincewind, At which point did I say that not paying the debts were a sensible idea????
I came on here to seek some advice regarding something, what I didn’t ask for or deserve is some self righteous tosser giving me a lecture on growing up and responsibilities. You have no idea what my personal circumstances are, except for the ones I described and I didn’t go into a lot of detail about it. I think if you knew anything of my past, you may not have been so quick to judge, than again, maybe not.
Anyway, I’m happy that your life is moving on nicely, but maybe you should look outside your own insular views and see that some people maybe aren’t as lucky as you, with regards to earning, health, etc.
Thanks again for the advice..
This is not a free advice service. It is a site for people to express their opinions. Stop being so lazy and search the forum - there are several threads with exactly the advice you need. You'll also find opinion there. If you don't want the opinion, then read between the posts, or pay a lawyer to answer your questions.

For the record, I understand and sympathize that some people can genuinely not pay back debt. In those cases, there are still responsible avenues for reconciling the situation. You did not follow these way back and now you're whining that it seems someone is holding you accountable. Tough luck. Don't expect sympathy from everyone.
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Old Nov 17th 2004, 3:41 pm
  #10  
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Default Re: Debt Help needed

Originally Posted by Bob
Sure that's not the booze?
Maybe a little
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Old Nov 17th 2004, 3:56 pm
  #11  
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Default Re: Debt Help needed

Originally Posted by dunroving
This is not a free advice service. It is a site for people to express their opinions. Stop being so lazy and search the forum - there are several threads with exactly the advice you need. You'll also find opinion there. If you don't want the opinion, then read between the posts, or pay a lawyer to answer your questions.

For the record, I understand and sympathize that some people can genuinely not pay back debt. In those cases, there are still responsible avenues for reconciling the situation. You did not follow these way back and now you're whining that it seems someone is holding you accountable. Tough luck. Don't expect sympathy from everyone.

Ok, for everyone this. I assure you that I'm aware that this is not a free advice service, I just thought that other fellow Brits may have been in the same situation at some point. This is my first time on the forum and didn't realise there was a search option. Try reading the the questions again.
Never, at any time, did I say that I was trying to avoid paying. I was being self critical when I mentioned that I stuck mt head in the sand. Believe me. I wish I could get the funds to repay these responsibilities and I'm hoping that in the near future I will be in the position to repay something on a monthly basis.
Thanks for the warm welcome by the way.
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Old Nov 17th 2004, 6:41 pm
  #12  
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Default Re: Debt Help needed

Originally Posted by peregrine
Ok, for everyone this. I assure you that I'm aware that this is not a free advice service, I just thought that other fellow Brits may have been in the same situation at some point. This is my first time on the forum and didn't realise there was a search option. Try reading the the questions again.
Never, at any time, did I say that I was trying to avoid paying. I was being self critical when I mentioned that I stuck mt head in the sand. Believe me. I wish I could get the funds to repay these responsibilities and I'm hoping that in the near future I will be in the position to repay something on a monthly basis.
Thanks for the warm welcome by the way.
Its a great shame, that some people come across as real arsholes, on here, but most are good helpfull Brits!!! and bring a smile to my face when reading this cite, good luck anyway.
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Old Nov 17th 2004, 6:57 pm
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Default Re: Debt Help needed

Originally Posted by Brit Vic
Its a great shame, that some people come across as real arsholes, on here, but most are good helpfull Brits!!! and bring a smile to my face when reading this cite, good luck anyway.

Thanks Brit Vic, I'm sure I'll get it all sorted through time. As for arseholes, ah well, each to their own eh? Life's too short.
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Old Nov 17th 2004, 7:46 pm
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Default Re: Debt Help needed

Originally Posted by peregrine
Thanks Brit Vic, I'm sure I'll get it all sorted through time. As for arseholes, ah well, each to their own eh? Life's too short.
Considering the two of you have 13 posts between you, your observations are laughable. Try searching back through the posts of some of the "arseholes", and you'll find that generally we are extremely helpful and have spent hours giving useful advice. But sometimes we just tell it like it is, especially when a neophyte asks for free advice and gets all whingy when they get opinion in return.

Like I said, if you try searching the site (you know, using the Search facility that most Web sites have) you'll find plenty of helpful advice on the topic of debt problems - you might be surprised to find that some of that advice came from "us arseholes". Or maybe you'd prefer to pay some lawyer $250 an hour to tell you the same thing we will.
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Old Nov 17th 2004, 8:11 pm
  #15  
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Default Re: Debt Help needed

calm calm down.....everyone needs to take a chill pill.

There is no easy way to pay off credit card debt back in the U.K, out of my $250 check I send, only 65 quid actually comes off the account, its ball breaking I know, but its just got to be done.

I have noticed though, that people tend to jump down new-posters neck on similar subjects, so lets not be hasty and help a little.
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