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Unsecured debt - Living in Spain - Susan Smith 2019-10-09 17:08:26
Hello

I wanted to find out if I have unsecured debt in the UK, the only asset I own is a jointly owned property.

If I moved to Spain and purchased a property over there and ignored all my unsecured debt in the UK. Assuming I just disappeared, the unsecured loans I had in place had no parent companies in Spain I make no arrangement to pay these loans and make no contact what so ever, I just stop paying them.

If they get a CCJ and a charging order on me will that affect what I own in Spain or is that just on UK assets?

Thanks

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Re: Unsecured debt - Living in Spain - Jane 2019-10-14 08:06:21
The way you can find out if you have any unsecured debt in the UK is by applying for your credit report - there are three big agencies - Experian, Equifax and Call Credit and you can apply for your credit reports online.

If you move to Spain you could technically ignore all the debts in the UK but the creditors could go for court action using your last known address in the UK. This would then last for 6 years and of course the creditor could go for a charging order on your share of the jointly owned property.

If they can trace you - which might happen if the person left behind in the jointly owned property lets them know then they can pass the debt on to a collector in Spain.

In UK bankruptcy they can seize assets worldwide.

It is not as easy as it used to be to disappear although some do successfully.

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