I have some uk bank creditcards (£3500) and loan £6000. due to unavoida ble circumstances I have to go back to Bangladesh soon and i am not in a position to pay off the debt. i am out of money at the moment. I would like to know whether bank and other credit card companies chase me in bangladesh for the unpaid debt even if I dont inform them that i am leaving? They have my passport details. Please advise.
If you leave the UK and do not inform your creditors of your moving and new details, naturally they will try to collect the debt by sending post or phoning you at the last contact points they may have. As to if they may chase you for the debt in Bangladesh, I really cannot say, they may or they may not.
It could be they may locate you and begin sending post to you there trying to collect the debt, if so, and you cannot pay the debts, then you cannot pay the debts, and your creditors may seek a CCJ here in the UK against you, etc, but there is little they can do to you there in Bangladesh.
If the bank or creditor(s) sell the debt onto a collection agency in that country, that collection agency can then collect the debt in accord with the laws there, and this could prove to be a problem for you. As to if the bank or your creditors will do this, again I cannot say, but my little knowledge of the area tends to make me think they may not follow this route. But again, it is possible.
When you get yourself in a position that you can make payments again, you could begin a token payment plan, or possibly a debt management plan.
Worst case scenario is you never make payments, and if you have had no contact form the creditors for a period of six (6) years, the debts could be statute barred, or no longer owed.
I hope this helps.
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