Hi
I will soon be moving to Europe to retire, selling my house and buying a new one in Europe, where I will settle.
Just over 2 years ago, I entered into a debt management plan with PayPlan, paying a regular monthly amount which was then passed on by PayPlan to 4 credit card companies. The debt size is now about £30,000 in total, with the biggest creditor at about £10,000.
As I am retiring I will have no earned income. I will also not have an address in the UK.
What would happen if I simply told PayPlan that I am moving abroad and will not be making any further payments.
Could the credit card companies chase for payment in Europe?
If they get a Court Order in the UK, can it be enforced in Europe?
Would they even bother to try and track me down?
Any advice would be much appreciated.
I will soon be moving to Europe to retire, selling my house and buying a new one in Europe, where I will settle.
Just over 2 years ago, I entered into a debt management plan with PayPlan, paying a regular monthly amount which was then passed on by PayPlan to 4 credit card companies. The debt size is now about £30,000 in total, with the biggest creditor at about £10,000.
As I am retiring I will have no earned income. I will also not have an address in the UK.
What would happen if I simply told PayPlan that I am moving abroad and will not be making any further payments.
Could the credit card companies chase for payment in Europe?
If they get a Court Order in the UK, can it be enforced in Europe?
Would they even bother to try and track me down?
Any advice would be much appreciated.
Retiring and moving from UK to Europe. What do i do about Debt Management?
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