(About 50k between various cards etc)In a panic, he has defaulted on payments and disappeared for a while. He intends to go to Europe for a while and sort himself out so that eventually he can try and sort out his debts back here. How likely is it that the banks or debt collectors will issue him with CCJs if he has no known address in UK? And are the banks likely to investigate him for fraud if he disappears for a while, even though he wants to resolve the problem when possible? He is very scared that he may be arrested at the airport leaving or returning to UK.. (He badly regrets it believe me, so please no smart *** comments...) Any info from people who are in the field would be greatly appreciated! Ps, my friend does not know I%26#039;m asking for advice!)
A friend made bad decisions and got in bad credit card and unsecured loan debt in UK.?
Whether or not there will be any criminal proceedings regarding his outstanding debts depends on the nature of the debt and whether or not the credit facility was taken out fraudulently. If he committed fraud taking out the loan (giving false employment details, false names etc) then he could face criminal proceedings. This is an unlikely thing, but possible. They would not deem it fraud if he disappeared for a while, UNLESS he took out the credit so that he could disappear. This would be taking out credit facility with no intent to repay, but the amount would need to be considerable in order to make it financially worthy for the company to get lawyers to take your friend to court (it%26#039;s all a costly business). We%26#039;re talking hundreds of thousands of pounds.
Your friend will get CCJ%26#039;s and defaults regardless of his current address. They will all be done against his %26#039;last known%26#039; address, which is all the law requires.
It is highly unlikely there will be any police waiting for him at the airport (unless he has committed MAJOR fraud and even then they would need to know he%26#039;s on his way!).
Most companies will be glad to hear from him and will enter into payment arrangements. In fact, all of them will.
A friend made bad decisions and got in bad credit card and unsecured loan debt in UK.?
Maybe he should get out and stay out.
A friend made bad decisions and got in bad credit card and unsecured loan debt in UK.?
He won%26#039;t be arrested (provided it is all unsecured debt and not council tax, utilities etc).
The worse that will happen is that his credit rating will be stuffed up for a fair while (at least 6 years) and he%26#039;ll have trouble getting bank accounts etc in the future. The debts will lie dormant until a time when they can track him down and then issue CCJ%26#039;s etc.
If he is so worried, just go bankrupt and then go off into Europe, it%26#039;ll be a weight of his mind and he%26#039;ll be able to straighten himself out.
A friend made bad decisions and got in bad credit card and unsecured loan debt in UK.?
Go bankrupt indeed.
http://www.insolvency.gov.uk/
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