Be Honest

[fred]

Can you believe this..Im still paying mine off as the balance wasn't worth losing my credit points for..
IMO,if you knock them,dont do it for peanuts..50K at least.

[andypaul]

Can you believe this..Im still paying mine off as the balance wasn't worth losing my credit points for..
IMO,if you knock them,dont do it for peanuts..50K at least.

But if its 50K and as Debt recovery becomes one of the growth markets in the UK, I would have thought they would go looking for any assets you leave in the UK to try and recover even part of the debt surely?

In a flat i lived in one of the people before me left a debt not that big and the effort they went to recover it must have added a fortune to the debt.

I know of one mate who left for Canada who forgot about his Student loan and what have you and feels he can't come back for any length of time or return for good and of course his credit rating is at defcom 5

[joebloggs]

50k would be worth it

well, what would happen if you got yourself in debt, and put the 50k under your bed, made, opps i mean got made redundant, went to CAB, who wrote to your Credit card companies explaining the situation, and would they freeze the interest, and take a payment of £10 a month, as this is all you can afford as your not working, will they take you to court or try and bankrupt you , well if you made efforts to pay them back, who knows , get yourself a job and err well ..

just wondering , i wouldn't do it, not til my misses gets a good job, then we wouldn't need to do it

[andypaul]

50k would be worth it

well, what would happen if you got yourself in debt, and put the 50k under your bed, made, opps i mean got made redundant, went to CAB, who wrote to your Credit card companies explaining the situation, and would they freeze the interest, and take a payment of £10 a month, as this is all you can afford as your not working, will they take you to court or try and bankrupt you , well if you made efforts to pay them back, who knows , get yourself a job and err well ..

just wondering , i wouldn't do it, not til my misses gets a good job, then we wouldn't need to do it

Like you say its a tricky one to judge i have heard of people having problems after a few missed payments and others getting a far more easier time. I mean the best example is the man who didn't pay his mortage for 15 years or so getting away with it
http://news.bbc.co.uk/1/hi/england/m...er/7243246.stm

[joebloggs]

i know someone who owed nearly 25k, and went to CAB, they wrote letters for him, showing breakdown of his monthly costs, and made an offer of £10 a month, which in the end they accepted, becuase they didn't want to inccur more costs of taking him to court and making him bankrupt and getting nothing, i suppose £10 a month is better than nothing , i don't think he even got a IVA, hes still must have a credit rating or it wasn't checked as he has a bank account and had no problem renting a house..

that reminds me, i'm still getting letters from the magistrates court for what looks like a polish surname, they've getting closer thou, first lot came from a court in cumbria, then demands from blaiffs, and now salford magistrates courts, must have been 20 letters up to now !! hehehe what a waste of tax payers money, maybe i'll phone them and tell them, their wasting their time..

[andypaul]

i know someone who owed nearly 25k, and went to CAB, they wrote letters for him, showing breakdown of his monthly costs, and made an offer of £10 a month, which in the end they accepted, becuase they didn't want to inccur more costs of taking him to court and making him bankrupt and getting nothing, i suppose £10 a month is better than nothing , i don't think he even got a IVA, hes still must have a credit rating or it wasn't checked as he has a bank account and had no problem renting a house..

that reminds me, i'm still getting letters from the magistrates court for what looks like a polish surname, they've getting closer thou, first lot came from a court in cumbria, then demands from blaiffs, and now salford magistrates courts, must have been 20 letters up to now !! hehehe what a waste of tax payers money, maybe i'll phone them and tell them, their wasting their time..

I would if i was you otherwise you will have the baliffs at the door, of course doesn't matter if you answer and show some I.D.
But they normally turn up at the oddest time ( the nieighbour had one for a parking fine a few years back knock a few times) and if no one was in or just the Wife it may distress her.

Sounds like your friend had no assets otherwise they would have gone straight after them.
I think now they have to offer you a basic form of bank account, even credit card the one many of our wifes get when they first come over with no Credit history.