So - What i meant was..............Just leave everything.
Lets say its just credit card and loan debt only and the person rents - no secured debt, no council / water debt etc . No more than about 5k on each credit card / loan - spread over multiple lenders.
So, don't open any of those letters, ignore the calls (get a new number) and just get the eventual default on your credit file (which, like an IVA would go after 6 years anyway leaving a clean credit file). If a CCJ comes along ignore that too (nobody attends court anyway) and just let go from your file after 6 years. So, basically - just stop paying anything. No contact with anyone.
What i am getting at is the end result is the same over the 6 year period with regard your credit file - so why bother paying anything at all?
I AM NOT SAYING THIS IS THE RIGHT THING TO DO - JUST ASKING IF THE END RESULT IS THE SAME, THEN IS IT NOT POSSIBLE TO JUST NOT PAY ANYTHING BACK AT ALL?
I didn't mention bailiffs but not sure if credit companies even bother for credit card / loan debts of these values? Even so, just ignore them too?
Anyway - what do you think?
You would be unable to change insurance companies or utility companies, as you will fail the credit check. When your tenancy agreement expires you will be unable to rent through any agency or private landlord who credit checks through the landlords hub. Some employment will no longer be open to you.
You would be unable to change bank accounts for any but the basic accounts. During time some of the toxic debts would be sold to, sometimes, less scrupulous collection agencies and several debts could then be combined, making one creditor more likely to put some effort into collection.
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