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Moving to Germany with debts in the UK

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As strange as it might seem: I was being serious. As far as I know that's the normal procedure when you've got debts.

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What sort of answers are you looking for? You have two directions. Hide or pay it. Hide and your credit rating if you ever decide to go back to the UK is fucked.

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On advice. Here here some more details. Was married in the UK. Got divorced. Ex will not sign any equity over to me (about 160,000GBP) have two kids so it´s difficult to force them out of the house so basically I have nothing until the usual rules apply. I need advice on how I can deal with personal debts I have please

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Do you want advice on how to pay it back or do you want advice on how to avoid paying it? There really aren't any other options which is why they are the only suggestions people have given.

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Try and get a bank loan to consolidate your debts and arrange it with payments that you can afford.

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Thank you Tom. I´m a responsible father who is still paying maintenance for my kids even so tthe CSA have no jurictiction over mme here I believe. My big question is what can UK debtors do to me here in Germany. Very conflicting info on the web. I´m also concerned about what they could do re my former matromial home where my kids live etc

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I would think the CSA can get you here anyway. I'd also not be so sure about being able to hide financially here. It's one Europe after all. Did you go into the marriage with the dept and how did you end up with it at the end of the divorce?

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As far as I know from other threads on here, your debts may be "sold on" from the UK to here, i.e. the UK debtors get someone in Germany to come after the money, which means generally just ignoring them and hoping they'll go away is a bad idea...

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Hi Pas. The CSA can do nothing to me here as I´m paying on a voluntary basic the amoumt they would take from me anyway. The debt is my own and nothing to do with the marriage. The FMH is in joint ownership but my ex refuses to let me have any of the equity.

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One of my best mates in the UK owns a debt collection agency. He is on the "business" rather than personal side, but of course sometimes needs to track down individuals. If it is worth chasing then of course they just chase across borders. Your legal position as far as I know is no different being here in Germany, same as if you had commited a crime for example.

 

However. The guys above are saying you either PAY or HIDE. That is not great advice - you should take the 3rd option of consulting an insolvency practioner in the UK. They will recommend that you either offer your creditors an Individual Voluntary Arrangement or accept Bankruptcy. The IVA can be a great option as you basically just consider your income and outgoings, work out how much you can pay, and put together a proposal over 3-5 years for example. This might only be 5% or 10% of the total debt, but for the creditors can offer a better option than bankruptcy. Being in Germany I suspect will HELP your cause as they are more likely to accept the IVA 'cos they know that chasing you in Germany just adds to their aggravation levels.

 

Basically you put a gun to the head of your creditors. They can make you bankrupt OR accept your IVA proposal for xxx per month. I think you need 75% of the vote by value from the creditors to get approval of the scheme. If you fail to pay you normally would then move to bankruptcy.

 

Hiding is not a cool option. It is gonna hang over you and could bite you badly in the arse. Face up to the situation and take good professional advice - it might not work out as bad as you think. Good Luck.

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Play the active part. Get in contact with the bank, explain the situation ie. that you want to pay back the debts but just can't afford it at the moment. I'm sure they'll be able to make some kind of arrangement, low repayment rates for example. Banks tend to appreciate good will.

If however you leave it up to the bank to become active then they'll probably roast you. Like Kathie said for example, by selling your debts to some "inkasso" company who just might send one or two russian body builders to your place to say hello.

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