Finance

[JACKLANE]

I have been out of the uk for two years and have setteled and I do not plan on returning. I have two credit cards and a flexible loan that i have been paying off on a monthly basis. I am thinking about stopping my payments? what will happen if i do so? also i have a property that i rent out on a fixed mortgage that is due for renewel in two year will this be effected? My postal address where all the loans are now registered is a friends house will this cause him problems as well Thanks

[bednobs]

the debts will start to accrue, and its likely the lenders will take the debts to a county court. With a ccj against you you will find it hard to remortgage
morally, it is also the wrong thing to do.
If you ever come back here, you are just storing things up for the future

[Ethel]

If you have a property in the UK and default on your debts and go missing, the creditors will apply to the court and get a charge put on your property.

You will certainly have great difficulty renewing your mortgage at a good rate if you have CCJs .

You are committing fraud already - it is a condition of every loan and credit card that you inform them of your new address.

Eventually the court could order the property be sold to repay your debts.

It could cause great problems for your friend too. He or she could be seen to aiding and abetting the deception by allowing your post to be sent to his address.
He could be subpoenaed to attend court and give your current address.

[factor-fiction]

Great answer from Ethel as always (apart from your Do Wop answer ysterday!)

[Ethel]

Do Wop, MmmmBop - it all means the same thing. :)

[factor-fiction]

Ethel-I was referring to the Bobby Darin groupie joke. Sorry Jacklane, this isn't chatterbank is it.

[ethandron]

Any CCJs brought against you could be held against your friends address (as its your postal address) this could affect his credit rating.

Ultimately its the rest of us that will end up paying for your actions in higher charges from the banks so I hope you get caught and lose your property.

[JACKLANE]

Thanks your answers they were what i expected. I was waying up my outgoings and getting frustrated. I have always paid everyone never missed any payments and like everyone else get **** all back for loyalty. I will carry on paying because it is the right thing to do.
thanks

[bednobs]

what do you mean you get sod all back? They give you money!