How long does an upaid mortgage debt follow someone?

[CORKBHOY]

Say for example a person buys a house back circa 2008, couldn't reach mortgage repayments, became unemployed, and decided to emigrate for a new start effectively abandoning the house and debt. Bank subsequently sells house.

Is there a statute of limitations on how long a bank/debt collection agency can chase someone abroad for this debt?

We were having this conversation in work recently. Some lads were saying 6 years, someone else mentioned 12 years. There was other opinions on it too.

 

[Jim Comic]

Til the rapture.... and beyond

 

[sigourney's knickers]

Say for example a person buys a house back circa 2008, couldn't reach mortgage repayments, became unemployed, and decided to emigrate for a new start effectively abandoning the house and debt. Bank subsequently sells house.

Is there a statute of limitations on how long a bank/debt collection agency can chase someone abroad for this debt?

We were having this conversation in work recently. Some lads were saying 6 years, someone else mentioned 12 years. There was other opinions on it too.

Emigration is the key. From what I remember after I emigrated, you're no longer considered an Irish domicile after two years.

Given each country conducts its own credit checks (had no credit history in UK when I arrived) you would think it would be a clean slate. But domicile and citizenship are not the same thing. Your national insurance number is tied to your citizenship.

Also, banks now exchange information. HMRC chased me because of an Irish house I was letting and therefore had to declare tax income from an Irish house in the UK.

In short ... it now never goes away. That debt is linked to a national insurance number. Best to build a life where they are.

 

[jeepers]

Say for example a person buys a house back circa 2008, couldn't reach mortgage repayments, became unemployed, and decided to emigrate for a new start effectively abandoning the house and debt. Bank subsequently sells house.

Is there a statute of limitations on how long a bank/debt collection agency can chase someone abroad for this debt?

We were having this conversation in work recently. Some lads were saying 6 years, someone else mentioned 12 years. There was other opinions on it too.

Just go bankrupt,CB. Just leaving the country is simply running away in the short term. A number of punters headed to the UK, declared bankrupt there and were free and clear of bankruptcy in a few years.

Ttbomk, just fucking off on an extended holiday doesn't automatically cancel debt.

 

[CORKBHOY]

Just go bankrupt,CB. Just leaving the country is simply running away in the short term. A number of punters headed to the UK, declared bankrupt there and were free and clear of bankruptcy in a few years.

Ttbomk, just fucking off on an extended holiday doesn't automatically cancel debt.

The person in question is gone the bones of a decade. The whole bankruptcy ship has sailed. Going by the conversation we had regarding this scenario there is a statute of limitations on how long a secured debt follows someone. It seems a given it will eventually be written off, per law, it's just a matter of how long. I Googled it but am getting contrasting info. Maybe someone here knows?

 

[jeepers]

The person in question is gone the bones of a decade. The whole bankruptcy ship has sailed. Going by the conversation we had regarding this scenario there is a statute of limitations on how long a secured debt follows someone. It seems a given it will eventually be written off, per law, it's just a matter of how long. I Googled it but am getting contrasting info. Maybe someone here knows?

Citizen's Information. They are superb for this sort of thing.

 

[CORKBHOY]

Citizen's Information. They are superb for this sort of thing.

Cheers. I had a look at their site, there was an encyclopedic amount of info that I hadn't the time to trawl through. I was hoping for a more synopsis version

 

[jeepers]

Cheers. I had a look at their site, there was an encyclopedic amount of info that I hadn't the time to trawl through. I was hoping for a more synopsis version

Shit. Too late to call them today. Would Monday be ok?

 

[jeepers]

Actually: does this person have a judgement against them?

 

[CORKBHOY]

Actually: does this person have a judgement against them?

I don't think so. Even though the person in question is living in New Zealand, I think, maybe Australia, the debtor managed to send them letters (however they got their address is a mystery) looking for repayment but they ignored the correspondence and never engaged with same.