Personal debt

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I went through a very bad divorce which started about 18 months ago. Stupidly thinking I was doing the "right thing" I opened a new account in my name only at the same bank and took out a new loan in my name only to cover the loan in our joint account(dec. 99). My now ex wife managed to have me ejected from my job which left me with no money. I eventually had had enough of her constant hounding me for money that I didn't have along with threats of violence (aided by some thugs), so I drew out 5 grand on my credit card and disappeared overseas (mar. 2000). I haven't worked since January 2000 and am being kept by some friends overseas, who witnessed some of her appauling behaviour. Needless to say I haven't been in touch with my creditors since the day I left. We also had some stuff bought on HP which is in my name but still in the former marital home, which was also transferred into her name by court order. I have settled overseas and looking to obtain residency of this country, but I would like to know what I can expect from my creditors. Obviously I dont want to obtain a criminal record based on these events and I have every intention of contacting them, when I get back on my feet, but there is little point at the moment as I can't work due to permit restrictions.

I would appreciate any positive input.

Many thanks.

-- Joe Davies (joe9467@aol.com), June 07, 2001

Answers

Owing money isn't a crime. The items on HP which were formerly transferred to your wife's name are now her problem, not yours. If you are still jointly liable for the loan then you should contact your solicitor again and get this sorted out.

Lenders (credit cards, loans and mortgages) can pursue a person abroad for a debt. Whether or not they do is another matter. For one thing, they have to find you. There is also the cost of pursuing the debt abroad, which may be prohibitive is the debt isn't that big.

You say that you've every intention of paying back what you owe. However as far your creditors will be concerned, you've disappeared and you owe them money. They may well have already issued proceedings to your last known address and there may now be county court judgements against you in the UK - who knows.

If you really want to contact your creditors and make arrangements with them, then you can. But they are likely to want settlement or some arrangement strongly in their favour straight away.

-- pendle (pendle@amun-ra.demon.co.uk), June 12, 2001.


Hi Jo

I don't no if this makes things easier, but after my bussiness failed and I was shafted by fellow partners I had no choice but to go and I ended up in Scotland, my debt which was all unsercured amounted to 150,000 and phoned every creditor to ask if anyone would bankrupt me and they all said no. So I thought stuff them and never heard a word since 1991

-- Duncan Rider (Duncanrider71@hotmail.com), July 12, 2001.


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