Basically we emigrated to New Zealand last year, we sold our home but still have post redirected , so havent officially informed banks etc.
I left with about £12,000 worth of debt, £4,000 on 3 different credit cards.
I have been paying them but with the exchange rate it is starting to get hard, I understand I could conceivably just cancel my direct debits and it is unlikely they would ever trace me, I also understand that my credit score will be ruined, these are risks im willing to take as im not planning on returning.
The fly in the ointment is I own 2 buy to lets, they have some equity but dont really produce much mothly, obviously the rent is paid in to a uk account and every so often i pull a few hundred quid over to nz.
I really dont want to sell these, I know if I have debts and have no other way of paying I should sell them, but i have had a really hard few years and these 2 buy to lets are my last hope of having some sort of nest egg.
Any advice? would these credit card companies accect £10 a month or something and not involve dca's? Or if I just cancel my direct debits im pretty sure they wouldnt find me, but would they find out I have these 2 properties and could i literally have them taken off me without even contacting me?
Basically, leaving debt in the uk, i undestand im pretty safe, but with 2 propertys left in the uk, am i screwed?
Hope you can help?