Animals & Nature0 min ago
Finance
9 Answers
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
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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.
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.