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No longer in the country - credit card debt outstanding

  • 11-06-2022 5:51am
    #1
    visa631
    Registered Users Posts: 1 ✭


    Hello,

    I have recently left the country. I have 2 credit cards with balance of €4,000 and €2,500 respectively. I am now living in another EU country with much lower standard so paying off the CCs will take a long time. I do not own anything in Ireland. I am considering not paying off the cards. What can realistically happen?



Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,494 ✭✭✭✭Victor


    Potentially:

    They sue you and get and enforcement order in the country you are living in.

    Your credit record is in bits for the next 6-12 years.

    You are blocked from getting a credit card with the same brand(s).


    Is there someone who could loan you the money and you repay them? Could you get a bank loan to pay off the credit cards?



  • #3
    Dempo1
    Registered Users, Registered Users 2 Posts: 27,024 ✭✭✭✭Dempo1


    Just to add the Debt will infact remain on OP"s credit report in perpetuity until its cleared.

    Highly unlikely any enforcement will take place in another EU or Non EU country, too expensive, so Debt will be sold at a discount and the purchaser will sit on it knowing at some stage OP will have to deal with them. Some think the Status Barred debt defence angle is a clever way around avoidence of an unsecured Debt, not so simple or straightforward I'm afraid.

    Best deal with now, gradually in my humble opinion.

    Is maith an scáthán súil charad.




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