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dazzle
Junior Member
173 Posts |
 Posted - 26 June 2008 : 14:19:34
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| If someone owed £20,000 on four different credit cards and decided to sell house, paying off the mortgage and then move to another country with the collateral, what would the eventual outcome of the unpaid credit card debts be. If its that easy why don't everyone do this?? After 6 years would they be written off? Could the person on return to the UK ever be traced and obtain credit? Can the person still return for visits to the UK to see family? Where can you obtain more information about this scenario? |
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melanie_giles
Senior Member
1191 Posts |
Posted - 26 June 2008 : 23:23:29
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Perhaps because most peopole have consciences and are pretty honest! If the accounts have not been pursued for six years or more then the debtor can claim immunity under the Statute of Limitations.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 27 June 2008 : 13:49:49
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Hi Dazzle,
This is very dangerous ground. If it is proven that the credit was obtained with no intention of paying it back, then that's 6 months at Her Majesty's pleasure for fraud!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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dazzle
Junior Member
173 Posts |
Posted - 27 June 2008 : 13:58:48
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| What does claiming immunity under the statute of limitations mean? and if the £20,000 has been built up over a long period of time just for living and everyday expenses this is a circumstances bought on by the sheer amount of the cost of living in the UK. Thats why its probably best to throw in the towel and live elsewhere....... |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 27 June 2008 : 14:01:38
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Dazzle,
With regard unsecured consumer debt, if nothing is paid back in a six year period, then the debt ceases to exist.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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Porcorosso
Junior Member
United Kingdom
235 Posts |
Posted - 27 June 2008 : 14:13:42
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A person I was acquainted with some 15 years ago tried this. The left the Uk unannounced. however they had to return for personal reasons some three years later. They were caught up with quite quickly. I don't know the exact details but the outcome had a distinctly custodial flavour.
The ostrich has taken his head out of the sand. |
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melanie_giles
Senior Member
1191 Posts |
Posted - 30 June 2008 : 00:51:00
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It's not really about not paying anything during the six year period, but more about having no contact with the creditor during that time.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 08 July 2008 : 15:51:35
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Hi Melanie,
My understanding is that there can be contact, but as long as there is no financial transaction in that six year period, then the statute of Limitations still applies.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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melanie_giles
Senior Member
1191 Posts |
Posted - 09 July 2008 : 00:49:38
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Not my undertanding or knowledge Julian - communication is the key and if there has been any the six year clock starts from the last date of communication regarding the debt.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 09 July 2008 : 17:30:12
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Hi Melanie,
It's been a while since I got my banking law qualification, so many thanks for the clarification.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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peter133
Junior Member
Azerbaijan
170 Posts |
Posted - 11 July 2008 : 15:01:29
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HI melanie
You are doing such a great job.my best regards are with you.It's not really about not paying anything during the six year period, but more about having no contact with the people during that time.
_____________________________________
peter
http://www.stop-credit-card-debt.com |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 11 July 2008 : 15:04:23
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Indeed, keep up the great work!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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Ian Richards
Junior Member
United Kingdom
296 Posts |
Posted - 11 July 2008 : 18:01:50
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Hi
This might be useful
http://www.hmrc.gov.uk/manuals/IHTmanual/IHTM28384.htm
Although there is one thing to think about, if there has been a CCJ and the CCJ has been sent within the 6 year period the debt will still enforceable and will not be statute barred! However you can apply to the court to have the CCJ set aside allowing the statute of limitations to take affect.
Ian
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Running way from debt!
