UK - Finance/debt advisor needed

[CherryO]

I got myself a bit of a problem. I fell behind on my credit card payments while abroad and the cc company handed my account to a solicitors for collection and I have lost the use of my c card.
Are there services that can negotiate back credit cards? I'm in a bind because I'm overseas, no credit card and facing a bad credit rating upon my return.
Someone suggested declaring bankruptcy and stay out of the UK for the next several years. This sounds heavy but I'm willing to do anything.

Thank you so much

 

[Diving Lore]

I got myself a bit of a problem. I fell behind on my credit card payments while abroad and the cc company handed my account to a solicitors for collection and I have lost the use of my c card.
Are there services that can negotiate back credit cards? I'm in a bind because I'm overseas, no credit card and facing a bad credit rating upon my return.
Someone suggested declaring bankruptcy and stay out of the UK for the next several years. This sounds heavy but I'm willing to do anything.

Thank you so much

Sympathies for you cherry. I've always relied on the cc abroad but always cleared on returning home.

You don't have to stay out of the UK if your bankrupcy! It means your debts are wiped clean and your 'blacklisted'. 'Bankrupcy means you are skint and can give up no more money. If you own your own property though that could mean its re-possessed to pay off the debts. You cannot open a new bank account and forget getting another credit card for at least five years. You can't get a mortage either until the bankrupcy clears either.


I have encountered people abroad 'living on the crest' so to speak and some are quite cool about it for they've loaded up numerous credit cards and buggered off without paying! Totally scandalous for us workers but it does happen. This all well and good if you can support yourself abroad for that amount of time and are unlikely to want a mortage and bank account!

According to some of these people a bank/cc company automatically writes off the debt after five years bankrupt or not. I do not know how reliable this is and would'nt advise it unless you really are up sht creek without a paddle!

Best bet is get family support on this and get a debt agency to consoladate the debts and steel yourself for the grinding repayments when you get home!

I don't know of any companies that 'negotiate back' credit cards., sorry.

If you have no way of getting home (due to ziltch funds) then get yourself the nearest embassy of your nationality and prepare the sob story well (they'll of heard it all before believe me!) and they may get you home. If its somewhere like Thailand/PI then be doubly convincing as thats no1 for overstays!