CC Debt
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- domacle
I have a friend moving over from Australia to the UK. He has accumulated a lot of credit card debt (in excess of $10,000AUD).
He, being an idiot, and no intention of moving home, thinks that the debt will disappear magically. What's the best advice I can give him to pay it off (he currently can't afford to pay anywhere near the minimum repayments)? What happens if he lives in the UK and doesn't pay it off?
Cheers
- JSK0
If he wants to renew his passport, he needs to have clear record of any lean or such.
- rubbish. You could owe 50 trillion dollars and still have a current passport. That's a private debt, a credit card.mikotondria3
- yep he is talking utter bollocksfadein11
- nb0
- "Say hello to Miguel Sanchez."ETM
- There sure is a lot of black smoke coming from my house.Pumpkin_baby
- 74LEO0
Is there a CL in Australia? He could escort, do porn or be a fag for a lil bit.
- stoplying0
Bankruptcy is only a 7 year stint. Get on board!
- monospaced0
What happens? Bad credit happens and your friend could be fucked for a long time if he ignores it. That shit follows you and only gets worse when collection agencies are after you.
- BattleAxe0
you mean it does not magically disappear ?
- popfodders0
Happens all the time in the USA. Knew of a girl that did that from USA to Asia. About 20K in debt.
Who do you think absorbs that sh*t? APR's and such skyrocket.
- lol - bollocks - credit card companies have defaults already built into the systemfadein11
- JSK0
This is for child support but..
"Under the Passport Denial Program, states certify cases in which an obligor owes more than $5,000 in unpaid child support. The Office of Child Support Enforcement transmits the information to the Department of State so that a U.S. passport will not be issued, or renewed, to someone who is not supporting his or her children. Passports can be seized if the holder requests a change, such as a new address or an additional dependant. In some cases, the CSE agency can help to obtain a Federal warrant. The Department of State can then start procedures to revoke the passport or arrest the obligor at the border when he or she returns to the United States."
- aldebaran0
"thinks that the debt will disappear magically"
lol - let he be damned. worry about yourself.
- It's called a Jubilee. Haven't had one in a few millenium.TheBlueOne
- goldieboy0
In the UK there are special debt government agencies which help you find a solution before it's get's to being bankruptcy. I'm sure they must have something similar in Australia? Usually, approaching the people who you're in debt to works... They want there money back so would rather you didn't go down the bankruptcy route.
- Oh, and if he lives in the UK and doesn't pay he's debt off in Oz he'll be fine ;)goldieboy
- domacle0
So how many years would he need to live in the UK before thinking about returning to Australia? He has a UK passport and is happy to live here for as long as possible.
Is there anything that they can do to a track him down abroad?
I told him not paying it (or attempting to pay it) is not an option
- Jacque0
Tell him to not be a dick and pay his damn bills.
- popfodders0
- oh Doug...mikotondria3
- ..the fuck am I talking about - Roger ! Oh, Roger !. Sorry.mikotondria3
- ukit0
Actually credit card debt and credit score does not follow you across borders...that may change in the future but for the time being you could theoretically skip out on your bills and resettle somewhere else with no consequences.
Of course, you'd have to live with the shame of knowing you ripped off the big banks...:)
- and by "shame" you mean "the awesome"TheBlueOne
- I saw fuck banks too, but you better plan on never going back to the country where the debt was incurred.popfodders
- monNom0
honestly, 10k is a drop in the bucket compared to the head-aches resulting from defaulting on a debt. He should sell some of his shit and work it down.
He'll probably never rack up debt again after going through the shit of paying it off.
- domacle0
what happens if he goes back in 7 years? Is it wiped? He seems to think after 7 years they wipe the debt (or stop chasing it as such)
- He's thinking of the 7 year itch ;)goldieboy
- But seriously, I haven't a clue if that's the case. Google?goldieboy
- Um, no. If you let it linger for 7 years it just wrecks your credit worse and worse. Bankrupsy will clear it after 7 years. Letting it build is a bad idea.mynameisdave
- Letting it sit without doing anything is a very bad idea for your credit.mynameisdave
- formed0
Yeah, 10k is nothing in the big picture. As he matures, he'll realize that there are far larger losses possible (look at all the investors that lost fortunes buying an "investment property")
People gotta take some responsibility for their own ignorance/greed/stupidity. It'll catch up sooner or later, as it should.
- 10k is nothing. take a chill pill. and why cant he afford minimum payments on that - does he work?fadein11