Moving to the USA with my partner, what do I do about my debt?

[VicNaysmith]

Hi All

 

I am new to this website, but found some useful information and thought I would post my dilemma and hopefully get some advice.

 

I am moving to the USA in 3 weeks time with my long term partner as his job has been relocated over there (for 3 years). I will be moving over on a visitor visa, therefore I won't be working (although I intend to look for work once I get there).

 

My issue is this, I have debt of about £10,000 here in the UK that I have been paying off (I have never defaulted or had to freeze payments) for many years, but obviously I am about to be unemployed, with no idea when I will be working again and don't know what to do about paying my debts.

 

Has anyone got any advice? Is it worth me simply picking up the phone and explaining my situation to my creditors?

 

Unfortunately my partner cannot afford to pay to look after me and my debts!

[unclebulgaria67]

If there is any chance of you returning to the UK within say the next 10 years, then you might want to resolve the debt before you go. The risk of doing a runner without advising creditors or coming to some form of conclusion, is that CCJ's or bankruptcy is obtained in your absence. This might prove to be a nasty surprise if you had to return the UK.

 

Solutions to the debts, might be making a reduced full & final settlement offer.. Advising creditors to put a hold on the accounts, as you are moving to the US and will need a bit of time, before you can recommence payments to them. Or to phone debt specialists such as Stepchange to get advice on some form of debt relief solution which might be available.

 

You are probably best to speak to Stepchange and see what they say. Then approach your creditors in writing about your situation.

[VicNaysmith]

Thanks very much for the advice, I don't intend to do a runner, I don't want to ruin my credit or risk CCJ's - in an ideal world I would just carry on paying it as when I am employed, I can afford to!

 

I will call Stepchange and see what they suggest,

 

Thanks!

[unclebulgaria67]

If you can afford to, you should just maintain paying the payments due for as long as you can. If you move outside of the UK, you should inform creditors of this in writing. This way, they should not have any excuse applying for CCJ's without advising the court of your absence. There is a special process for county court claims and bankruptcy, if the person concerned is no longer in the UK. This is more complicated and expensive, as they would have to serve court documents to where you are resident abroad. There should then be no sneaky courts wins by default in your absence and if they did, you have good reason to ask for a set aside.