Can foreign debt be collected in the UK?

If you own or have owned a property in another country, you may have been told that walking away from the property would cause no harm.

This isn’t the case, and to the surprise of many of our clients, they are now being pursued for the entire amount even after Brexit.

Knowing the correct procedures when dealing with your lender is essential, and this is where EU Property Solutions steps in to help you get the best outcome.

How can you be pursued in the UK?

There are several ways that these lenders can chase debts in the UK; some of the most common tactics include:

Order Charging Land
Writs
Judgements
Forced sale of properties

How will a foreign lender pursue me in the UK?

If your foreign lender secures a judgement in the UK, they can appoint a UK-based solicitor, act themselves, or they may use a collection agency on their behalf. When third parties are appointed, you will incur additional costs, which can be as much as 50%, and your personal finances will immediately be at risk.

Take action today

The sooner you act, the better the outcome will be for you. At EU Property Solutions, we aim to prevent legal actions and protect your finances. We collaborate with legal experts in the UK and across Europe to achieve life-changing settlements for our clients.

If you are worried that you are being pursued for foreign debt, call our experts today on 0330 124 1230 for a free consultation or email us at [email protected].

Foreign debt can be chased in the UK for many years. Don’t be fooled if you have to stop receiving letters from the bank, in many cases they will sell the debt to 3^rd parties within the UK, making it vital you take action.

Yes. In our experience, Spanish banks can become very aggressive when collecting outstanding debt, and they have been known to put charges on property and even force sales on homes to gain back their money.

Even with Brexit, you can still be chased for foreign property debt in the UK. The lender will take several steps to collect the debt, which can include debt collection companies which will stop at nothing to collect the monies owed.