How to get rid of my mortgage debt

[mcloving]

Pursuing someone cross border is an expensive and time consuming process. In my experience it's rarely done. Generally, if the debt is reasonably large, a financial institution will first of all employ an investigator to obtain information about the financial circumstances of a debtor. Only in the event that the outcome of legal action was likely to produce a reasonable dividend would such action be progressed.
In most cases, for blower amouts the Institution will obtain judgement in Ireland and if the debtor has left the juristiction W/O the balance.

What is judged as 'reasonably large'?

 

[44brendan]

There is no standardised decision making process amongst banks. Generally they are not vindictive, in that they won't pursue a debt unless they can see an option of getting some money back. The ideal is to come to some agreement with the Bank that you can afford. If you intend skipping the country and you have debts of say 10/20K plus, then you may well be advised to seek UK bankruptcy. Less than this amount and the Banks are unlikely to pursue you abroad. There is no guarantee of this, and you are taking a risk by doing it.

 

[mcloving]

There is no standardised decision making process amongst banks. Generally they are not vindictive, in that they won't pursue a debt unless they can see an option of getting some money back. The ideal is to come to some agreement with the Bank that you can afford. If you intend skipping the country and you have debts of say 10/20K plus, then you may well be advised to seek UK bankruptcy. Less than this amount and the Banks are unlikely to pursue you abroad. There is no guarantee of this, and you are taking a risk by doing it.

Some cases studies of this would be of interest to many on this forum. Are any available?

 

[44brendan]

Those best advised to give case studies will be ones that left the jurisdiction and can illustrate their own experiences. Otherwise, you make your own decision and accept the associated risks.

 

[Night owl]

Those best advised to give case studies will be ones that left the jurisdiction and can illustrate their own experiences. Otherwise, you make your own decision and accept the associated risks.

I have heard of some one who had a significant property portfolio including 6 houses, a restaurant and an office premises in Cork and then he left the country without informing the banks. To the best of my information, Banks are pursuing him for all the debts although all his properties are been repossessed by now. I heard he is also been charged of providing false income certificates and inflated incomes from his rentals...All this is unconfirmed..

 

[elcato]

I have heard of some one who had a significant property portfolio including 6 houses, a restaurant and an office premises in Cork and then he left the country without informing the banks. To the best of my information, Banks are pursuing him for all the debts although all his properties are been repossessed by now. I heard he is also been charged of providing false income certificates and inflated incomes from his rentals...All this is unconfirmed

I drink in the same pub as you so