ChatterBank2 mins ago
Debt Abroad
4 Answers
Hi there,
If anyone can help it would be appreciated....
My husband and I are moving to Australia in September but have a large outstanding debt.
This is currently 14k, but started at 35k and we have paying off as much as possible over the years to try and clear it. The debt was not my husands fault but he is liable to pay it.
We have put off our move for over a year to try and clear this debt and have paid off so much over the last 5 years but we can't pay anymore and just want a clean slate.
What we want to know is whether our debt will follow us to Oz, how long before the debt is written off and also whether it will affect our credit reating over there?
If we do come back to the UK to live (not that we intend to at all), how long before we are taken off the black list?
Many thanks for your help and fact over specualtion would be appreciated.
If anyone can help it would be appreciated....
My husband and I are moving to Australia in September but have a large outstanding debt.
This is currently 14k, but started at 35k and we have paying off as much as possible over the years to try and clear it. The debt was not my husands fault but he is liable to pay it.
We have put off our move for over a year to try and clear this debt and have paid off so much over the last 5 years but we can't pay anymore and just want a clean slate.
What we want to know is whether our debt will follow us to Oz, how long before the debt is written off and also whether it will affect our credit reating over there?
If we do come back to the UK to live (not that we intend to at all), how long before we are taken off the black list?
Many thanks for your help and fact over specualtion would be appreciated.
Answers
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Germany and Canada have reciprocal debt agreements with the UK when it comes to tracing debtors and debt collection practices. There is not much information available regarding other countries with such agreements although a search on the web may reveal more, it is possible that creditors do not want this information to be readily available.
A reciprocal agreement in the UK means a UK Court can enforce a CCJ (County Court Judgment) using the legal system of the other country. If there is no such agreement in place, a debt creditor can sell a debt to an agency in the relevant country and debt recovery procedures will commence under the law of that land.
A reciprocal agreement in the UK means a UK Court can enforce a CCJ (County Court Judgment) using the legal system of the other country. If there is no such agreement in place, a debt creditor can sell a debt to an agency in the relevant country and debt recovery procedures will commence under the law of that land.