Can I run away?

By THIS IS MONEY
Updated:

 

I have credit card debts of £30,000 and am about to lose my job. I plan to emigrate to the USA. Will the credit card companies pursue me abroad? MA.

Linda Whitney says: Going abroad is unlikely to allow anyone to escape a debt like this. It is common practice for lenders to pass outstanding debts to a debt collection agency once they have lost contact with the borrower. The agency will try to track you down wherever you are, even if it's abroad, and given that this is how they make their money they are likely to be good at it. What's more when they have found you they may well be less flexible in their approach to repayment than was the original lender.

Your best bet is to get in touch with your credit card company and tell them about your situation - it is not uncommon so they are usually willing to negotiate about how you pay off the debt. For general advice about dealing with debts of any kind contact National Debtline on 0121 359 8501 or the Consumer Credit Counselling Service on 0800 138 1111. They are both free and confidential.

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