Colleywobbles

This is a bit off the subject but was wondering if anyone had any personal
experiences with moving to the U.S from the U.K and leaving behind outstanding debts?
My husband has moved to the states from the UK and has a somewhat large loan yet to
be resolved. (Around £15,000 ) We are not in the financial position at this time to
pay on the loan and were wondering what the worst possible outcome would be if we
abandon the loan altogether. Could he be deported for not paying this amount? Do you
have to be present in the UK to file bankrupcy? Any information or advice would be
greatly appreciated.

Thanks M&A

William Michael Munc

I will be surprised if you receive any helpful information on this but instead you
will hear the negative opinions of a few people. I suppose the company, or bank that
he owes money to could not locate him here without going through a lot of red tape,
and if they do find him they would still have to come here and serve him a suppina (
or however you spell it ) to appear in court, and I suspect an American attorney
could make delays far beyond the expenses they would be willing to pay for an
attorney ??

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Rete

Don't know why Mr. Munc thinks you will receive negative comments regarding your topic.

It is doubtful that the company which is owed teh 15,000 pounds sterling will come after you to the US for payment. However, if you don't formally declare bankruptcy and have the debt discharged in some manner, it is likely that if you return to England they might "grab" you then for payment and/or whatever charges come with skipping out on a debt. This would probably hinder your ability to have your US spouse migrate to England if you should ever wish to.

You have two options that I can see:

1. Talk to the company and see what type of arrangements can be made to lower interest rates and delay payment until you are employed in the US and can start making payment against the debt. In all likelihood they would prefer this than having you either skip out and/or declare bankruptcy.

2. You can declare bankruptcy. I assume that you would probably require the services of a barrister even if only for a consultation on how to proceed. Here in the US you have to appear before a board to answer questions before a decision is made on your petition for bankruptcy. Don't know the procedure in England.

Either way, this debt will not hinder you here in the US in obtaining future credit as your credit history does not follow you.

Rita

Rete

;-)

suppina = subpoena

Sean

did this in 1998, never caused me any problems, I spoke to an attorney about this
very issue in 1998, told me if I wanted to make arrangements with them i could, but
if Chose not too, there is basically nothing they can do about
it.However if you go back to england to live you would likely have a problem, but
for a visit, don't even worry about it. Just don't tell them you are visiting
the country!

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lvlT

does this apply for other countries also? Like Canada?

Sean

Actually in some ways this is a good thing that banks and credit card company's are
losing out because of people leaving there home country's. It's called pay back, they
rip people off everyday, about time they got a taste of there own medicine! I refused
flat out to pay my credit card over there, simply because the bank was run by a bunch
of ****** idiots, that over charge and rip you off every chance they get. So I
commend anybody that shafts them back in this fashion, If they are crappy credit
company's like the one I had. I am not saying skip debts, but i do think the more
poeple do this to them the better!

"Rita" <[email protected]>
[usenetquote2]> > I suppose the thought of receiving negative comments, that Mr. Munc[/usenetquote2]
referred
[usenetquote2]> > to, was that it is wrong to skip out on your debts and not do anything[/usenetquote2]
about
[usenetquote2]> > them. Should be cleared up one way or another whether through making[/usenetquote2]
payment
[usenetquote2]> > arraingements, a deferrment if possible for a period of time, or[/usenetquote2]
bankruptcy.
[usenetquote2]> > Regardless, he gets a clean slate in the US. Although some forms (not[/usenetquote2]
INS ones)
[usenetquote2]> > he comes across in the future may ask if he has ever declared bankruptcy[/usenetquote2]
or if
[usenetquote2]> > he has any outstanding debts...they wouldn't be able to verify his[/usenetquote2]
response.
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Betastar

On Wed, 19 Dec 2001 22:32:05 -0500, "Sean" <[email protected]> spake:

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Yeah - that's a good idea. Then they can raise the interest rates on everyone else to
cover the money you refused to pay.

Rete

Nice attitude Sean. It is one thing not to be able to repay what you willingly borrowed. It is another to borrow willingly and gleeful thumb your nose at not only the company who trusted you but society in general. IMO, that is theft.

And for the record ... my daughter declared bankruptcy and her debts were discharged this past Tuesday by the courts. It wasn't that she didn't want to pay, but circumstances were such that she did not have the money to pay and one of the companies refused debt consolidation. You see her husband had her transfer his credit card debt to her name before their marriage and then married her and dumped her for another woman two months after the wedding.

Rita

Michael Voight

Sean wrote:
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Aren't these the charges what you agreed to by using the cards?? If you agreed to pay
the fees, I don't think it is really a rip off. Not paying a debt, when you have the
money to do so, is stealing.