Debt following me outside the UK, yes or not?

[banafinfodafuggiano]

I have lived numerous years in the UK back in 2008-2018.

I took a business loan of approximately 65,000 GBP and unfortunately I was only able to re-pay 25% of it due to my business completely failing
and becoming unprofitable. I have then left the UK to relocate back to Europe and now I'm in Canada as a permanent resident.

I have been in Canada for 4 years now and no one has ever contacted me about the UK debt.

If I applied for a credit card here in CANADA, will the UK bank be able to find out my address and chase me to Canada/sell my debt to Canadian collectors?

It's been a little over 4 years since my last payment to the UK debt, after that I have not been in contact with the bank whatsoever. (lost my UK sim card, changed address and
lost access to the internet banking)...

 

[Sols]

International debt collection (non-tax debt) is difficult and unpredictable. If they haven't tried yet, they probably can't get to you or have just deemed it not worth pursuing.

Applying for credit in Canada would normally not be known or even knowable to the UK. Maybe if you apply with a bank present in both UK and Canada, and your debt is with that bank in the UK. But even then you have data protection regulations impacting banks' ability to share data across borders.

Take a look and see if there are any treaties between UK and Canada regarding debt recovery. I don't think there is one (and if there were, you'd probably know by now) but worth double checking.

That said, it's usually a good to settle debts. If you're capable of doing so now, just pay it off and try to negotiate on interest and late payment fees.

 

[wellington]

I have been in Canada for 4 years now and no one has ever contacted me about the UK debt.

If I applied for a credit card here in CANADA, will the UK bank be able to find out my address and chase me to Canada/sell my debt to Canadian collectors?

Yes and no.

UK Debt is expunged after 6 yrs, both personal and credit, it quite literally gets tipped off the table, internally the banks may hold information (internal) or longer due to KYC/AML requirements though.

As for Canada -> The problem you actually have is the following.

Banks increasingly share information inter-bank, this is the issue springing up in the UK currently, where people are being de-banked via banks de-risking, thats not to say the individual did anything wrong, could be anything from unviable relationship, to questions on wealth etc the Gov's fines against Santander led to this.

The issue is Canada is a Western Nation and if information isn't already accessible (against say passport ID) then it will be in the future, can see this even in Asia, everything is tying against a passport ID.

Fortunately in the UK post Nazism there has been broad push back against centralised of information, for example, passport isn't tied to HMRC, debt isn't linked to passport etc but name + address i.e a CCJ will be Name, DOB, Address..., etc -> however with the socialists firmly in control and the socialist mob pushing for more 'freebies' and control from the state that might change in the future also as we integrate a china like eyeball scan system in day-to-day life.

That said, it's usually a good to settle debts. If you're capable of doing so now, just pay it off and try to negotiate on interest and late payment fees.

True.... having said that, non-collateral debt is just that... they make some good loans, to offset the bad ones, if he's moved abroad then technically its not something he needs to worry about unless they come chasing for it.

Having said that i'd be interested how his immigration status is, because i'd imagine Canada wouldn't allow residence to someone with outstanding debt (apparently fled from).

 

[JohnLocke]

As long as you don't hear anything, I would take it very easy. There are actually really good opportunities for you to wait for the events (there's no rush) and then let time work for you. It's also easier for you to negotiate with the bank after maybe three or four years when you live outside their reach. They have written off the amount anyway, so you could perhaps offer them 10% of the total amount after the mentioned time.

 

[banafinfodafuggiano]

International debt collection (non-tax debt) is difficult and unpredictable. If they haven't tried yet, they probably can't get to you or have just deemed it not worth pursuing.

Applying for credit in Canada would normally not be known or even knowable to the UK. Maybe if you apply with a bank present in both UK and Canada, and your debt is with that bank in the UK. But even then you have data protection regulations impacting banks' ability to share data across borders.

Take a look and see if there are any treaties between UK and Canada regarding debt recovery. I don't think there is one (and if there were, you'd probably know by now) but worth double checking.

That said, it's usually a good to settle debts. If you're capable of doing so now, just pay it off and try to negotiate on interest and late payment fees.

i have checked and there are treaties among all commonwealth countries to recover debt: Canada, Australia, NZ, UK etc...

They never pursue it I beliebe because I never applied for credit, I never requested a loan, i don't have any utility bills on my name here in Canada... basically I'm a ghost... how could they find me otherwise?

This is why i'm asking if I apply for credit it will definitely show on Equifax international...?

Yes and no.

UK Debt is expunged after 6 yrs, both personal and credit, it quite literally gets tipped off the table, internally the banks may hold information (internal) or longer due to KYC/AML requirements though.

As for Canada -> The problem you actually have is the following.

Banks increasingly share information inter-bank, this is the issue springing up in the UK currently, where people are being de-banked via banks de-risking, thats not to say the individual did anything wrong, could be anything from unviable relationship, to questions on wealth etc the Gov's fines against Santander led to this.

The issue is Canada is a Western Nation and if information isn't already accessible (against say passport ID) then it will be in the future, can see this even in Asia, everything is tying against a passport ID.

Fortunately in the UK post Nazism there has been broad push back against centralised of information, for example, passport isn't tied to HMRC, debt isn't linked to passport etc but name + address i.e a CCJ will be Name, DOB, Address..., etc -> however with the socialists firmly in control and the socialist mob pushing for more 'freebies' and control from the state that might change in the future also as we integrate a china like eyeball scan system in day-to-day life.


True.... having said that, non-collateral debt is just that... they make some good loans, to offset the bad ones, if he's moved abroad then technically its not something he needs to worry about unless they come chasing for it.

Having said that i'd be interested how his immigration status is, because i'd imagine Canada wouldn't allow residence to someone with outstanding debt (apparently fled from).

I'm a Canadian Citizen

 

[wellington]

As long as you don't hear anything, I would take it very easy. There are actually really good opportunities for you to wait for the events (there's no rush) and then let time work for you. It's also easier for you to negotiate with the bank after maybe three or four years when you live outside their reach. They have written off the amount anyway, so you could perhaps offer them 10% of the total amount after the mentioned time.

Surely even if you settle the debt, the CCJ won't be removed... So there's rarely a point, its a numbers game, and it's not criminal unless theres a court order, as it's non-asset supported.

Equifax international...?

I doubt (or at least they didn't) use 'international' but domestic, there is of-course world something that is used for international checks but that's for AML/KYC

 

[banafinfodafuggiano]

Surely even if you settle the debt, the CCJ won't be removed... So there's rarely a point, its a numbers game, and it's not criminal unless theres a court order, as it's non-asset supported.


I doubt (or at least they didn't) use 'international' but domestic, there is of-course world something that is used for international checks but that's for AML/KYC

Pal, Equifax is the same everywhere, once I hit my credit request with my DOB and full name, Equifax knows about it, and Equifax is the same in the UK and Canada or the USA, the system is all interconnected, and don't you think the Bank in the UK has a system that sends a notification to them once they get a matching name from any other address?

 

[JohnLocke]

Surely even if you settle the debt, the CCJ won't be removed... So there's rarely a point, its a numbers game, and it's not criminal unless theres a court order, as it's non-asset supported.

The point is that if you want to return to your home country at some point later, it's good not to have burned all bridges and to have paid what you owe back home so that you are not faced with nasty surprises when you head back.

If you know with 100% certainty that you will never return, then you can disregard it.

But one can live life in many ways..