Unpaid Credit Cards - Living abroad

M

Marco35

Registered User
Messages
11
Hey,

I have two credit cards each 15K maxed out and stopped paying as I lost job and have to move out to Italy to live with family to support me. the interest on ech is about 380€ a month plus some fees. So in total I am about 32K in debt and it looks very slim to pay it off. I am not planing to return to Ireland as the company I was working for closed and that was the only reason I went there.

I guess the banks will apply to court for Enforcement of debt judgment. How long it will take to catch me up in Italy you think?
 
Seems like a big enough debt that they just sell it to an Italian debt collection agency. The Italian agency wont take long to catch up with you. Contact the bank and work through the issue
 
Marco35 said:
I am not able to anything, so the advice would be to move to another country?
Click to expand...

You mean you don't want too?

Your family will be affected and they will seize assets from your family home as you are registered there. Your family will have to prove they own their assets. I am sure your family would not be happy with you. If you get job seekers in Italy they will take a share of that.

I know of a couple that got two loans(about the same as you) and went to Australia and boasted that the bank would not go after them. The bank sent a debt collector and they both have attachment orders to their wages. They cannot get a mortgage or a car loan in Australia as the banks there asked for and icb check and the debt was plain to see.

This will follow you. Get a job and contact the bank. You cannot run for ever.
 
Sconeandjam said:
Your family will be affected and they will seize assets from your family home as you are registered there. Your family will have to prove they own their assets.
Click to expand...
Really?

Do you have a reference to that?

It's easy to get a freezing order on the OPs bank accounts anywhere in the EU, but I've no idea how you'd go about seizing assets from their parents home?
 
Last edited:
Sconeandjam said:
You mean you don't want too?
Click to expand...
It isn't clear to me that the OP doesn't want to, there can be multiple reasons why s/he can't.
Sconeandjam said:
Your family will be affected and they will seize assets from your family home as you are registered there. Your family will have to prove they own their assets. I am sure your family would not be happy with you. If you get job seekers in Italy they will take a share of that.
Click to expand...
That isn't clear to me either.
 
I am sure you have seen the bailiff programme based in the Uk. They go in and see what is of value . They list assets and seize them meaning if nothing is paid they can remove assets later. The family have to prove the assets are there are theirs and not the debtor. Not everyone holds receipts for everything they buy. If the debtor lives in the house there will be upheaval for the family. The same applies to Italy.

[broken link removed]

To me it is. The person racked up two credit cards for a lot of money. They did not say they paid the minimum or paid anything towards the debt so tried to pay agree a payment plan with the card providers before they left Ireland.
 
RedOnion said:
It's easy to get a freezing order on the OPs bank accounts anywhere in the EU, but I've no idea how you'd go about seizing assets from their parents home?
Click to expand...

I am also sceptical.

Your average regional Italian court will not see many debt collection orders from a small jurisdiction like Ireland. I doubt they would just wave them through.

If the OP has not told them where he is living there is the additional first stop of finding out where he lives - there are for example several hundred thousand Italian adults called Marco.
 
Sconeandjam said:
I am sure you have seen the bailiff programme based in the Uk
Click to expand...
Ah, the entertainment show? Yes, that's literally exactly how debt enforcement works everywhere in the EU...

The link you provided is the procedure for recovery of business / company debt. The enforcement piece after the court order is a bit different to personal debt in most countries (including here for example). I believe in Italy you would first go after assets registered in the debtors name, like cars / property, and attachment orders on salary & bank accounts. But you still have to get the court order first. I haven't worked on a case in Italy though, so I'm not entirely sure.

Technically anything with a potential recovery over 2k (with some exceptions) is worth pursuing within the EU. So the OP walking away from their debt is both immoral and potentially foolish as it could follow him.
 
Marco35 said:
Hey,

I have two credit cards each 15K maxed out and stopped paying as I lost job and have to move out to Italy to live with family to support me. the interest on ech is about 380€ a month plus some fees. So in total I am about 32K in debt and it looks very slim to pay it off. I am not planing to return to Ireland as the company I was working for closed and that was the only reason I went there.

I guess the banks will apply to court for Enforcement of debt judgment. How long it will take to catch me up in Italy you think?
Click to expand...
Marco35 said:
I am not able to anything, so the advice would be to move to another country?
Click to expand...

A few questions Marco..

Does your family know about your money trouble? It will not be easy but it is best to let them know. They are more familiar with the Italian legal system than anyone on here so their help with any legal proceedings will be important.

In your first post you say "it looks very slim to pay it off" and in your second post you say "I am not able to do anything". The first indicates that you are able to pay something whereas the second says that you can pay nothing. Which is it? What you can do will be based on that.

Are you working or earning money in Italy now? I assume you are not planning on being fully supported by your family forever so I am guessing you are trying to get your life back on track in Italy at the moment.

Have you been in contact with your creditors? Do they know you have moved to Italy? Have you been paying the interest and charges?

It is a mountain to climb but the worst thing you can do is try to hide from it or run away to another country from it. Another country where you do not have family support, where you have to establish yourself again, where you do not know the legal system.
 
I am completely broke. This is why I can not pay a penny. No job, No welfare support. Nothing.
MABS told me they can not help me as I live outside Ireland. Bank knows my Itallian address as I change it right after I opened my account.
I was thinking to move to Spain and look for job there as I speak some Spanish.
I contacted the debt help agency here, and they can not help me right as there is no Enforcement of debt judgment issued yet. Only after it is issued to Italian system I can start the bankruptcy proceeding.
 
Marco35 said:
Bank knows my Itallian address as I change it right after I opened my account
Click to expand...
Hi Marco,
You might clarify for me please. If I understand your posts, you opened credit card accounts, lost your job, moved back to Italy, and ran up the debt from there?
 
Yes, I did all living in Italy, until I reached the limit. The biggest portion was my car accident and hospital pay
 
So you basically used the Irish credit cards to fund your life in Italy knowing you were not in a position to pay it back?
No help from me so.
 
Marco35 said:
I am completely broke. This is why I can not pay a penny. No job, No welfare support. Nothing.
MABS told me they can not help me as I live outside Ireland. Bank knows my Itallian address as I change it right after I opened my account.
I was thinking to move to Spain and look for job there as I speak some Spanish.
I contacted the debt help agency here, and they can not help me right as there is no Enforcement of debt judgment issued yet. Only after it is issued to Italian system I can start the bankruptcy proceeding.
Click to expand...
Marco35 said:
Yes, I did all living in Italy, until I reached the limit. The biggest portion was my car accident and hospital pay
Click to expand...

You haven't answered the question about whether you have told your family.

Given your accident and hospital stay are you fit to work? Are you able to find work in Italy at all? As you have given your address in Italy (which I am guessing is a family address?), it could mean distress for your parents if they start getting debt collectors chasing you to their doorstep. Moving to Spain you are still in the EU but you no longer will have the support of family close by and you would be putting them in the position of dealing with the consequences of your debt.

Marco35 said:
I contacted the debt help agency here, and they can not help me right as there is no Enforcement of debt judgment issued yet. Only after it is issued to Italian system I can start the bankruptcy proceeding.
Click to expand...
Are you hoping for them to get an enforcement of debt judgement issued?
 
Family know that I borrow some money, just they dont know how much it is.
All I was told from the perspective of an lawyer advice is the only way out bankruptcy
 
Marco35 said:
Family know that I borrow some money, just they dont know how much it is.
All I was told from the perspective of an lawyer advice is the only way out bankruptcy
Click to expand...
Marco,
What would happen if we all tried doing what you did? There's responsibility and there's none, so you expect everyone else to pick up the bill for you or just forget about it.
 
noproblem said:
Marco,
What would happen if we all tried doing what you did? There's responsibility and there's none, so you expect everyone else to pick up the bill for you or just forget about it.
Click to expand...


Not sure how my bankruptcy would affect your pocket?
 
Anyway, does any one have better advice then bankruptcy? At least this is what one law firm suggest as a way out.
 
You must log in or register to reply here.
Back
Top