Hi
Just to summarise my situation I have debts back in the UK totalling about 30k, which is soon to get another healthy bump thanks to the reposession of my apartment.
It´s a mix of a little tax, council tax, service charges, overdraft and a few other odds and...
My mortgage, overdraft and one loan is all with HSBC. The od and loan are about 8k in total, the mortgage could be another issue so that one creditor will probably want about 23-30k when al said and done.
Now I have a few options. First is the obvious run back to England and go bankrupt. But I wonder if they will chase the debt, or if I can stare them down for a while whether they´ll accept a full and final settlement for much less? I´m wondering if they´ll sell it on rather than deal with the hassle and expense?
I could also feign complete ignorance and try and ignore it forever and hope it goes away. I´m leaning towards ignoring it for a while then doing the full and final offer for something like 5k. I can get help with that and all would be well with the world.
Also, the council tax bill is big, ridiculous really, like 3k. Would they chase me to Spain or can I leave that one dormant and again hope they sell it on and sell it on? If I ever come back, I could then offer them 20p in the pound when the others are sorted.
Of course I wouldn´t mind walking away from the lot, so if you have experience of this working then please let me know! But I´m looking at more at ádvantageous debt negotiation´by just being difficult to find, in Spain and generally an inconvenience.
Would love to know your thoughts!