Can I skip Down Under and leave my debts behind?

[SK1]

I stumbled across this article on a local UK newspaper website....read below:

http://money.guardian.co.uk/experts/consumer/story/0,,2128276,00.html

Interesting, I wonder what this person will end up doing?

Does anybody know of someone who's done this and gotten away with it?

Cheers

SK1

[OneTime]

Interesting article there SK1...

Nope, I've not heard of anybody that's gotten away with it, but then again, I've not heard of many people that have actually done it. I know somebody who left the UK with debts, say in the region of 1000 pounds or so and I've not heard of him being contacted YET... but... we'll see...

In the past, leaving debts behind would have been easy - banks really wouldn't spent the time and money chasing people overseas for a few hundred pounds, but these days, with banking, internet and international business the way it is they easily "sell off" the debt to a debt collection agency in another country. I'm just not sure how much is enough for them to do that.

My adivce to anyone would be not to do it, and never to burn their bridges. Things change and you never know when you might want to return to the country you left debt in. Also, Australia is very much against system dodging, and all for only opening it's doors to people of good character... and if they were to find out in any way, that woud be his application over. Credit checks are easy to run these days, as the article says and these days, being in another country is like, in the past, being in another province...

That's my 2c...

[ICE]

Very interesting!

But like you said, it's not worth doing it, you might need to come back!

[Steve]

I have heard of people who ran up large (10K or so) credit card debts and returned to SA. They were apparently never contacted. Although technology has moved on a lot it's still pretty difficult to track someone down if they move to a country which doesn't have detailed computer records.

If the debt is large enough I think the banks would make an effort to get their cash back.

[LongJohnny]

Eish! I'm not a expert in these types of things, but I would strongly recommend to that guy to settle his debts in the UK before he rocks up here in Oz. Australia and the UK are both very IT sophisticated in a range of spheres, e.g. banking, credit histories etc. If he jumps ship, he may find that he jumps from the frying pan into the fire, to use a metaphor.:bigeek

Or come to some arrangement with his creditors to make repayments even after he has left. I may be wrong but most creditors will be satisfied when you do pay something on a regular basis, even if it takes much longer.

Also, if he is serious with his PR status in Oz, not to do anything to jeopardise it. I know of lots of people who would give anything for PR status in Oz, it's not something to sneeze at.

My2c worth.


LJ

[SK1]

Eish! I'm not a expert in these types of things, but I would strongly recommend to that guy to settle his debts in the UK before he rocks up here in Oz. Australia and the UK are both very IT sophisticated in a range of spheres, e.g. banking, credit histories etc. If he jumps ship, he may find that he jumps from the frying pan into the fire, to use a metaphor.:bigeek

Or come to some arrangement with his creditors to make repayments even after he has left. I may be wrong but most creditors will be satisfied when you do pay something on a regular basis, even if it takes much longer.

Also, if he is serious with his PR status in Oz, not to do anything to jeopardise it. I know of lots of people who would give anything for PR status in Oz, it's not something to sneeze at.

My2c worth.


LJ

The funny thing is I get this feeling this person wants to just jump ship to get away from a life full of debt and unhappiness and is hopeful (desperate) to start over in OZ. Also, what I get from the article, this person has borrowed a fair bit of money to start the application process from a friend in OZ (who may never see their money, especially if they don't know the full extent of their friends debt).

Just imagine, starting a new life (with almost nothing) in OZ and with debts in the UK. Is it possible to survive with such a financial situation? Maybe he/she will live off the kindness of the friend already in OZ until sorted. However long that takes.

If its difficult to make it in your home country, just imagine how difficult it may be to make it in a "foreign" country.

[OneTime]

I wonder how much debt we're talking about. I'd be inclined to think that it's either a hell of a lot (impossible to pay pack) or the guy has no sense of responsibility. I wonder what's so bad in the UK that he has to get out so urgently that he has to borrow money to get there and leave debts behind.

I wish there was a follow up article.

I'm a bit cynical with these things, probably cos I'm the sucker that will usually play it fair and do the right thing, like many of us.

[LongJohnny]

I would hope for this guy's sake that someone wil take him in hand and explain the pitfalls to him.

In the end he is an adult who should be able to make informed and responsible choices, but one would hate so see him come to grief.

I suppose one can't save the world, but if possible, one can at least point it inthe right direction

[paulc]

Guys,

I feel there is a simple answer. Pay unto Caesar, what is due to Caesar. I have a lot of debt, and will most likekly still have a bit when I leave, but I will pay it. Every cent. You are not tricking humans here, but there is a person who misses nothing....

[ICE]

True Paul, true!

[LongJohnny]

Guys,

I feel there is a simple answer. Pay unto Caesar, what is due to Caesar. I have a lot of debt, and will most likekly still have a bit when I leave, but I will pay it. Every cent. You are not tricking humans here, but there is a person who misses nothing....

Well said paul!:thumbs

Life is like a piggy bank, what you put in, you'll get back. And the BIG GUY often puts something extra in it...:grin


Cheers,

LJ