Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

uk debt...unable to pay..worried

Options
  • 18-04-2008 6:02pm
    #1
    dizzyguy
    Closed Accounts Posts: 23 ✭


    Hi
    I lived in the UK for 3 years. I currently owe 6000GBP there. I have only worked for 2months out last year ( still not working) due to illness. I maybe able to get a family loan to pay some of this debt.
    Can the uk company chase me to ireland?
    I have given them my irish address and have spoken with them.
    Basically I have to be in arrears before they can do anything but there is no way i can pay back the guts of 8000euro. I should be well enough to work by june but am going to uni sept.
    any advice on what mbna will do?
    Is there agreement between uk and roi?
    i own no property, am on social welfare and have no assets.
    thanks


Comments

  • Options
    #2
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Yes they can chase you to Ireland if they are bothered.
    Talk to them again and explain your situation,they will listen.
    Ask if you can put the £6k over 7 years or something in an MBNA loan and that it can be reviewed in 6 months when you get a job.Work out what you can afford (say €40 a month or something and let them make a term around that).
    At least if ytou do that the debt will be classed as moving.
    It's a mistake to do nothing as it will only muck up your credit history profile if a judgement is sought.
    Don't worry about it anyway just talk to them.Whats the worst that can happen? nothing worse than not talking to them anyway.
    Don't worry either about what they might say to you when you haven't talked to them yet.

    Best of luck.


  • Options
    #3
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    Were you on social welfare when you applied for the card (I am assuming you are referring to a Credit Card debt)? If so, you might have a small case whereby they mis-sold you a product. Did you get Payment Protection Insurance with the card (as this would cover your repayments due to illness for a while)?

    As regards them being able to chase you over here for your debt, the answer is yes. You owe them money and they can chase you wherever. The only question is whether it's worth their while.

    As regards getting a loan to pay it off, you would have to pay back far more than €40 a month as that wouldn't even cover the interest and thus the debt would continue to increase!

    Burying your head in the sand will only make this worse. You could destroy whatever hopes you have of ever buying a house/car etc if the worst came to the worst.


  • Options
    #4
    dizzyguy
    Closed Accounts Posts: 23 ✭dizzyguy


    dotsman wrote: »
    Were you on social welfare when you applied for the card (I am assuming you are referring to a Credit Card debt)? If so, you might have a small case whereby they mis-sold you a product. Did you get Payment Protection Insurance with the card (as this would cover your repayments due to illness for a while)?

    As regards them being able to chase you over here for your debt, the answer is yes. You owe them money and they can chase you wherever. The only question is whether it's worth their while.

    As regards getting a loan to pay it off, you would have to pay back far more than €40 a month as that wouldn't even cover the interest and thus the debt would continue to increase!

    Burying your head in the sand will only make this worse. You could destroy whatever hopes you have of ever buying a house/car etc if the worst came to the worst.

    No I was working when i got the card.
    I didn't get PPI.
    I have been paying £5p/m for last 9months on it but now they want more.
    I think I have to continue to default on it before they will talk to me. As long as i make minimum payments which are now about 150euro p/m they see that i can afford it. I haven't payed more han 5gbp.
    my social welfare payment is 197euro per week.


  • Options
    #5
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    To be honest with you, I think you need to talk to MABS fast.

    They're the experts on this kind of thing and will be able to give you Personal Financial Advise as opposed to anything I or any poster can do for you over the internet.

    Sorry to say, but from the sounds of things you are in a desperate situation and either have to find some way to have the debt written off (really messing up your credit history), or postponing going to college until you have cleared the debt.


  • Options
    #6
    dizzyguy
    Closed Accounts Posts: 23 ✭dizzyguy


    been reading over mabs,
    it looks like what I need.
    There's an office near me and I am going to pop in. I need a face to face.
    I had been looking at english places like that but they couldn't help me properly because I'm in ROI now

    THANKS FOR THE LINK


  • Advertisement
  • Options
    #7
    muletide
    Registered Users Posts: 1,506 ✭✭✭muletide


    Hi,

    Hope this is some help to you,

    A friend of mine went to college in England, about 4 years ago,and got a bank loan of about 5K while there. He paid back F**k all while in England so the bank chased him when he got back.

    What he did was, every time he got a reminder he just sent off a Bank draft for about 50 sterling and the odd time when he came into some cash he sent a bit more, he is still working it back but the bank seem happy enough as long as he sends something (no matter how small)on a regular basis.

    And it has not affected his credit rating either as he got a mortgage last year and it was never raised as an issue.

    The thing to remember is Student Loans are big business in the UK and the banks are used to them being paid back slowly.

    So my advice is small and often ( and it does not matter how small just send something the banks have thousands of people on their books who completly ignore repayment notices - do NOT become one of these) - and do not default as they will chase you

    And best of luck with it.

    Mule.


  • Options
    #8
    dizzyguy
    Closed Accounts Posts: 23 ✭dizzyguy


    muletide wrote: »
    Hi,

    Hope this is some help to you,

    A friend of mine went to college in England, about 4 years ago,and got a bank loan of about 5K while there. He paid back F**k all while in England so the bank chased him when he got back.

    What he did was, every time he got a reminder he just sent off a Bank draft for about 50 sterling and the odd time when he came into some cash he sent a bit more, he is still working it back but the bank seem happy enough as long as he sends something (no matter how small)on a regular basis.

    And it has not affected his credit rating either as he got a mortgage last year and it was never raised as an issue.

    The thing to remember is Student Loans are big business in the UK and the banks are used to them being paid back slowly.

    So my advice is small and often ( and it does not matter how small just send something the banks have thousands of people on their books who completly ignore repayment notices - do NOT become one of these) - and do not default as they will chase you

    And best of luck with it.

    Mule.


    Hmm...interesting


Advertisement