Welcome to our frequently asked questions and forum area.
On this section of our website we are posting some of the questions that people email us from all over the world. Hopefully you will find the answer to a query that you may have. If not feel free to email us and we will do our best to answer you.
UK Creditors Pursuing Debt Overseas Advice
Q: I have been living in Australia for two years and have over £40,000 worth of UK debts, mainly from the shortfall on my property in Wales. Nobody knows where I live and many people have commented on forums that they will never pay this type of debt and they will never be found. Do you agree with this?
A: This is an interesting question. There are definitely two schools of thought on this issue and there are many people currently in this situation. There are also many factors that also influence the person's decision. If you think you may return to the UK one day, then bankruptcy from abroad "leaves the door open" for you to return to a debt free situation as you have dealt with the issue. If you don't deal with your debts and one day return home to the UK then you can guarantee that you will walk into a huge amount of issues with regard to the outstanding debts including County Court Judgements, debt collectors, bailiffs and also major problems in relation to your credit profile.
If you have no intention of returning to the UK then you may decide to take the chance that someone will never find you. If however you take this option and maybe after 4 or 5 years find that your creditors catch up with you overseas then you no longer have the option of declaring yourself bankrupt as you will be outside of the three year time limit to take this option.
Also bear in mind that most banks are Global institutions and operate in many different Countries. Laws are always changing and with the technology of the internet many people are easily traceable. In some cases you only need to look on social networking sites such as Face book or My Space to find where somebody now lives.
At the end of the day if you are happy to take the risk that nobody will ever find you then that is your decision. If however you want the situation "off your mind" then dealing with your debts gives you this peace of mind and also gives you the ability to go back to the UK if life overseas does not work out for you.
How can creditors find you abroad?
Q: I have been living in South America for just over a year and have UK debts. I don't think that my creditors will find me here but I now need to return to the UK to sort some family issues out. I am now worried that my creditors will be waiting for me when I arrive in the UK. Any advice?
It is doubtful that your creditors will be waiting for you and they do not have access to flight information at airports. It may be worth thinking about bankruptcy before you travel back as there are no travel restrictions if you have been declared bankrupt in the UK. You will be able to travel in and out of the Country without any issues and without worrying about your creditors.
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