Posted on March 12th, 2010 by jane
I have two friends who are in the process of doing this right now as they are in New Zealand. It's not just credit cards either - there's a couple of loans as well. When I was living in Australia, friends of my wife had come over to live and they also did it but I have not been in contact with them so I don't know how it all turned out. Just to make things clear, I am really curious as I have heard no less than three stories pertaining to this and have heard of no consequences so far in all the cases. I cannot believe that credit card companies have no protection from people doing this when it is such an obvious thing to do. We are talking anything from 拢5000 right through to 拢25000 worth of unpaid debt that seemingly can be gotten away with. To me, this is straight out credit card fraud and/or theft. If you were to hold up your local convenience store at gunpoint for a measly 拢500, whether you move abroad or not, you can guarantee that you would be spending time in jail for it!credit card companies use debt recovery agents to collect on their bad debts..
you may get away with it, you may get away with it for a long time, but sadly, you wont get away with it forever...With most banks now being part of a global chain - I'd think this was very risky.
It doesn't take much for someone to apply for a credit card in their new country, only to find that it's underwritten by the company they've just scammed.
And, if they ever want to move back home it might cause problems.
If the lender thinks you've always had this in mind, they could be prosecuted and convicted in their absence - then as soon as they pass through passport control they get arrested.
Very dodgy....ITS A TRAP!debt creditors and courts alike seem to have caught up with the idea over the last few years and have taken action to make it more difficult for people to escape the responsibility of paying the money they owe
Germany and Canada have reciprocal debt agreements with the UK when it comes to tracing debtors and debt collection practices. There is not much information available regarding other countries with such agreements, it is possible that creditors do not want this information to be readily available.
A reciprocal agreement in the UK means a UK Court can enforce a CCJ (County Court Judgment) using the legal system of the other country. If there is no such agreement in place, a debt creditor can sell a debt to an agency in the relevant country and debt recovery procedures will commence under the law of that land.
The resources available to creditors for tracing a debtor are vast. Although the resources in some countries may be limited, there are still ways and means of finding people, especially once the creditor has some idea of where the debtor has gone. A debt creditor may have their own office in that country, or relations with other credit companies in that area.
Creditors employ a variety of tactics to trace debtors. They may go to the last known address, talk to the neighbours, family friends or relatives who could unknowingly tell them of the person's whereabouts. Once they know which country the debtor is in, their job is made much easier.Angie has pretty much covered it in very good detail but what should be remembered is its not a victimless crime. If card companies loose to much what do you think happens...interest rate and charges go up. So all the friends and family of these jokers left in the UK and everyone one else suffers. It is theft to knowingly spend and rack up debt without any intention to repay in my opinion. You may also want to come home at some point and there are more and more sophisticated ways of tracking people down. So please think of others before running off with suitcase full of unpaid debts. Thank you if ya take notice.don't know the answer but wouldn't it be fun maxin out then running out lollol oh man do itIt will be very hard to trace somebody in another country. If they have lets say maxed out a visa card and mastercard, they will not be able to apply for one in the new country as Master and Visa Card are the same company worldwide.
However the Goverment is aware of these problems and a solution has been found. When the new ID cards come in, and you have a debt of any sort under your name you will not be able to leave the country.
People re-entering will be parrt of this system if they are UK Citizens or not.
So I would stay away from anything illegal. As if you get caught and it is proved this was purposely done you will get done for fraud, which I believe carries a min sentence of 5 Years you will have to check that.I have a relative who has done this exact same thing for somewhere in the region of 拢8K on one card that I know of. She's been in Canada for 6 - 7 years now and as far as I aware she's fine and has had no come back from it. A friend of mine was in fraud investigation for Cap One and he had mentioned something about this to me - I can't remember his exact words but from what I do remember there's sweet FA anyone will do about it. If this is true, I can't believe that people don't do it all the time. I am not saying it's right but free money, who the hell is going to turn that down?#If you have any other info about this subject , Please add it free.# |
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