“Dear Steve,
i am a student here in UK and my student visa is going to finish late next year. ive got a loan and credit card debt amounting to 13 grand. will they sue me or run after me in philippines if i go back home coz i think i cannot pay them anymore coz im only doing part time job now.. hope to here from you..
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are they bank and credit card companies going to run after me if i go home without telling them? please give me some advise.
Danny”
Dear Danny,
When you default on your UK debt it will be reported negatively on your UK credit report. The creditors may sue you in the UK and certainly will attempt collection.
You account may be assigned to an international debt collector in the Philippines but I doubt you’d be sued back there or at least I can’t remember a case where that’s happened.
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so steve what is the best thing to do in my situation? please i need advice.
Well the very best solution would be for you to satisfy your debt in full before you leave so you don’t have to be worried about it.
If you can’t pay and have to leave then we’ll just have to wait and see how hard they try to collect when you get back home.
Alternatively, you could always consider going bankrupt in the UK before leaving or seeing if you are eligible for a debt relief order. You can contact ClearDebt in the UK for additional help with those items.