Change Name when emigrating to avoid creditors

TommyB said:
I've worked quite a bit in the last few years in debt recovery PI. Basically helping banks or collection agencies locate defaulters and find evidence of assets. I was approached by a newer agency to work for them full time but I declined. Their business model is very interesting. They are buying debts at rock bottom prices for people with zero assets and those who have emigrated some distance. They are going to sit on these cases for many years, quietly at first till the persons have started to build a life again. They have solicitors in different big economies advising them on local debt recovery laws so they know what to to and how long they can recover a debt. Some people are due some very nasty surprises in the next ten years for sure.

You might think a name change will help you and it probably will for some situations. But trust me, if somebody wants to find you, they will. PIs have a suite of tools and dirty tricks to find people. Facebook, forums, phone numbers, relatives, ebay, forums, donedeal. Social engineering. I know your email/twitter but I don't know what country you are in. I send you a link dressed up in some believable context.
(MOD - link removed)
Boom have your IP. Most likely have your workplace or at least your internet company. The going rate is about 100 quid to get an address from these companies on the black market. Nearly every telecoms company in the world has low level staff offering this service on the dark web for a fee.

You can leave but do you really want to be in a situation that you hope you don't make a sucecss of it because it can all be taken away, plus interest and fees.
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Tommy I can't help but notice from your post history that you're very much in the "suck it up and pay your debts regardless of your ability to pay" camp, you even go so far to say it's the "honourable" thing to do, are you sure you working in debt recovery as a PI isn't a figment of your imagination and just a rouse to implement your agenda? Cause when I then actually look at the methods you describe for finding people I have to say they look useless - websites, ph numbers and relatives? If these are the methods used I'll happily take my chances tbh. And then your coup de grace my IP adddress? So what, that tells you nothing except my internet provider and even if you manage to get my address and send me a demand letter I can just ignore it or move.
Poor attempt Tommy, you're just wasting everyone's time with your nonsense.
 
Gone ;

Have been watching this thread .
1. Inadvisable to change your name.
2. Advisable to tell Bank you are emigrating (you do not need to say where to)
3. At this stage agree to sign any papers necessary to effect a sale of the property.
4. Tell Bank you will assist only on the condition that residual debt is either written off or at least that you will not be pursued for it.

(Brendan44,s viewsare good) Do not go to Canada without getting resolution, you do not want to have niggling doubts.
I would even suggest you do whatever it takes to sell the property for the Bank , so even should a residual debt remain ,you have tried to resolve as best you can before leaving.

I would be very sure you will not be followed for any residual debt;

Do not run away ; meet problem and if Bank are not pragmatic then at least you have tried in an honourable way. All we have is our good name!.
 
If these are the methods used I'll happily take my chances tbh. And then your coup de grace my IP adddress? So what, that tells you nothing except my internet provider and even if you manage to get my address and send me a demand letter I can just ignore it or move.
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Then why are you spending so much time on this? The advice given by Brendan44 was simple and to the point (as others have agreed). Move on.
 
Gerry Canning said:
Gone ;

Have been watching this thread .
1. Inadvisable to change your name.
2. Advisable to tell Bank you are emigrating (you do not need to say where to)
3. At this stage agree to sign any papers necessary to effect a sale of the property.
4. Tell Bank you will assist only on the condition that residual debt is either written off or at least that you will not be pursued for it.

(Brendan44,s viewsare good) Do not go to Canada without getting resolution, you do not want to have niggling doubts.
I would even suggest you do whatever it takes to sell the property for the Bank , so even should a residual debt remain ,you have tried to resolve as best you can before leaving.

I would be very sure you will not be followed for any residual debt;

Do not run away ; meet problem and if Bank are not pragmatic then at least you have tried in an honourable way. All we have is our good name!.
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Thanks for input, yeah it looks like that's the best route to follow however I'm fully expecting the bank not to play ball which could potentially create a situation down the line.
Can I ask you how you can be so sure, I take it you work in a similiar field to Brendan44?
 
elcato said:
Then why are you spending so much time on this? The advice given by Brendan44 was simple and to the point (as others have agreed). Move on.
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Are you serious? Because the 250k I owe now could turn into 400k in 10 years time and Brendan44 (who's advice I'm very grateful for) did put the qualifier "unless we are talking about a defaulter with substantial assets/income" and who's to say I amn't a successful tradesman in 10 years time (this is my plan after all) with assets or that I won't marry some rich chick or that the bank won't change their opinions on who merits chasing? sorry if this upsets you but this is what the forum is for, you don't have to read the thread if you don't want to.
 
mandelbrot said:
So you've been living in the house for the last 6 years, but not paid a nickel to the bank?
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I answered this question earlier on I think, nominal bits and pieces from my dole but nothing since I figured I needed to emigrate.
 
I organised a face to face with them (my idea) in their offices about 2 years ago but they cancelled at the last minute and never sought another meeting.
 
I am not in the slightest bit upset but I'm just wondering what you agenda is. Have you a problem with paying your debts if you can afford them in 10 years time ? It seems to me you are here to justify running away and leaving the rest of us to pick up the tab and at the same time never have to actually pay back anything should you be in a position to do so. What's wrong with having married a rich chick (sic) and got loads of money to not actually pay what you owe ? Is it so wrong of the debtors to actually ask for their money back ? :)
 
gone said:
Are you serious? Because the 250k I owe now could turn into 400k in 10 years time and Brendan44 (who's advice I'm very grateful for) did put the qualifier "unless we are talking about a defaulter with substantial assets/income" and who's to say I amn't a successful tradesman in 10 years time (this is my plan after all) with assets or that I won't marry some rich chick or that the bank won't change their opinions on who merits chasing? sorry if this upsets you but this is what the forum is for, you don't have to read the thread if you don't want to.
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But your solution, to run away and change your name, doesn't give you any absolute assurance that the scenario you set out above.

gone said:
I answered this question earlier on I think, nominal bits and pieces from my dole but nothing since I figured I needed to emigrate.
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So why not go bankrupt either here or in the UK then, like so many others have done?

Seems to me like you want to have things every way: you wanted the loan to buy the house and got it, you've had the house throughout the period you couldn't and didn't pay for it, you now want to walk away from it by hiding instead of dealing with the situation through the insolvency options available to you.

It's not that I don't sympathise with your situation, but your idea for the best / most convenient way to deal with it, to hide, seems a bit short sighted.
 
The Bank may huff and puff but with you going away there is little they can do.
Be sure to put all proposals in writing and be sure to keep copies.
If Bank decide to play hard ball then away you go ! you have made the best offer you can in present circumstances.

In answer to my certainty , worked in finance 30+ years , sadly finding too many Bankers to be shall we say (worth watching)! They have given my industry and too many Bank officials a poor name.
 
Gerry Canning said:
The Bank may huff and puff but with you going away there is little they can do.
Be sure to put all proposals in writing and be sure to keep copies.
If Bank decide to play hard ball then away you go ! you have made the best offer you can in present circumstances.

In answer to my certainty , worked in finance 30+ years , sadly finding too many Bankers to be shall we say (worth watching)! They have given my industry and too many Bank officials a poor name.
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Much appreciated.
 
elcato said:
It seems to me you are here to justify running away and leaving the rest of us to pick up the tab and at the same time never have to actually pay back anything should you be in a position to do so. What's

Is it so wrong of the debtors to actually ask for their money back ? :)
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What you state is a legitimate debate for another thread. And it's only a debate if you don't agree with letting people who are bankrupt go bankrupt.

The OP is quite clearly stressed, moving to Canada is a very big deal, they want to get all their ducks in a row, which is perfectly understandable. I cannot imagine it's been pleasant to have lived since 2008 with the constant stress of this bearing on one's mind. So we must try to be understanding.

And of course there are many up to all sorts, diddlign the banks, but soemone who is taking the drastic step of emmigrating so far away, wouldn't be someone I would consider up to creative accounting unless there were something in the posts to signify others.

The question is legitimite. 2 people working in this area have tried to help, one working in a bank/debt, and one an advistor to help those in debt. What is stark is that nobody is 100% sure the bank won't chase in the future.
 
elcato said:
I am not in the slightest bit upset but I'm just wondering what you agenda is. Have you a problem with paying your debts if you can afford them in 10 years time ? It seems to me you are here to justify running away and leaving the rest of us to pick up the tab and at the same time never have to actually pay back anything should you be in a position to do so. What's wrong with having married a rich chick (sic) and got loads of money to not actually pay what you owe ? Is it so wrong of the debtors to actually ask for their money back ? :)
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So many strawmen in there that I'm not going to bother too much, I've been quite up front with my intentions (or agenda as you put it) and have stated that my main concern is that if I should manage to save 250k in the next 10 years that the bank might come along and take it making my whole expedition in vain. You need to turn your ire on the people who put you on the hook for my clearly unsustainable debt because I didn't - I entered into a contract with a private institution, not my problem if someone else pulled you into it as I did not agree to this and would never have entered the contract if I knew it meant screwing the taxpayer to get out of it.
 
Bronte said:
What you state is a legitimate debate for another thread. And it's only a debate if you don't agree with letting people who are bankrupt go bankrupt.

The OP is quite clearly stressed, moving to Canada is a very big deal, they want to get all their ducks in a row, which is perfectly understandable. I cannot imagine it's been pleasant to have lived since 2008 with the constant stress of this bearing on one's mind. So we must try to be understanding.

And of course there are many up to all sorts, diddlign the banks, but soemone who is taking the drastic step of emmigrating so far away, wouldn't be someone I would consider up to creative accounting unless there were something in the posts to signify others.

The question is legitimite. 2 people working in this area have tried to help, one working in a bank/debt, and one an advistor to help those in debt. What is stark is that nobody is 100% sure the bank won't chase in the future.
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Well put, especially the last sentence. I would also like to add that at the time of draw down I could never have forseen that the "get out" clause would mean the tax payer bears the burden, I would not have entered into contract if I had known that was the case.
 
mandelbrot said:
So why not go bankrupt either here or in the UK then, like so many others have done?

Seems to me like you want to have things every way: you wanted the loan to buy the house and got it, you've had the house throughout the period you couldn't and didn't pay for it, you now want to walk away from it by hiding instead of dealing with the situation through the insolvency options available to you.

It's not that I don't sympathise with your situation, but your idea for the best / most convenient way to deal with it, to hide, seems a bit short sighted.
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There's nothing short sighted about wanting to avoid having to needlessly spend 18+ months in UK going bankrupt or 3+ years here, why would I do that if it's not necessary when I could be out working instead after being unemployed for the past 6 years? To keep you and all the "pay irrespective of your ability to pay" brigade happy? Also, I like the way you framed my situation - " didn't pay for the house" as if I had some sort of choice and we weren't in possibly the biggest property crash in any western economy ever with virtually our entire construction sector wiped out, good job on misrepresenting the actual situation to suit your ill informed prejudicial opinion.
 
Bronte said:
What you state is a legitimate debate for another thread. And it's only a debate if you don't agree with letting people who are bankrupt go bankrupt.

The OP is quite clearly stressed, moving to Canada is a very big deal, they want to get all their ducks in a row, which is perfectly understandable. I cannot imagine it's been pleasant to have lived since 2008 with the constant stress of this bearing on one's mind. So we must try to be understanding.

And of course there are many up to all sorts, diddlign the banks, but soemone who is taking the drastic step of emmigrating so far away, wouldn't be someone I would consider up to creative accounting unless there were something in the posts to signify others.

The question is legitimite. 2 people working in this area have tried to help, one working in a bank/debt, and one an advistor to help those in debt. What is stark is that nobody is 100% sure the bank won't chase in the future.
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Well put Bronte. We must remember that a lot of people (including me) come to this site to ask for help and advice and not to be judged. I would have steered clear a long time ago if that is the response I got from others.
 
no_moolah said:
Well put Bronte. We must remember that a lot of people (including me) come to this site to ask for help and advice and not to be judged. I would have steered clear a long time ago if that is the response I got from others.
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Just ignore them, they're too silly to realise they're blaming the wrong people. No one drew down a mortgage thinking that if they sought out of the contract it would be borne by the state.
 
Without getting into too much more debate here, I think anyone who has followed any advice I gave in the past then in this case mine would simply be go and make a fresh start in Canada. That's the last I will say on the matter as it's clear the political waffle has taken over this thread.
QED
 
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