A friend is going away the country for Spain to start a unusual go.? thing is he's not intending to settle his CC, loan etc.

thing is he's not intending to settle his CC, loan etc. debts before going. According to him not a soul will bother tracing him for the debts, I've heard different and that the debts are sold to companys who recover the debts. I'm worried he is mortal far too cocky about all this and within years to come it will all catch up next to him. What is the likelyhood ?

If he's a failure in England after he's really going to struggle in Spain ( voice of experience). So it won't be long before he have to return to face his creditors, they will be waiting.

It may take time to trace him but years down the road they will achieve ahold of him and his credit will be shot.

Believe me he will be traced and it will cost him a undamaged lot more

they will trace him and then he will own more than he currently does to pay back speak to him and enlighten him if he is struggling to offer the companies lb10 a month or what ever he can afford that way he will be OK but if he stops paying altogether your friend will be surrounded by trouble..

Answer:
It's very likely indeed. He wishes to be careful, because he might get to spain, and not close to it. He will then be blacklisted for years to come, if he comes back to the UK, and what will he do, when he desires furniture, credit cards, bank accounts, mortgage, and so on. He wants to grow up and compensate back what he has loaned, as his existence in Spain could backfire on him.

It's a intercontinental economy, my friend. Many of the big players in the credit reporting industry are big players contained by Europe as well. Once they figure out that he's an American, it's possible that the US information will flow over to the Euro systems as well.

I lived in the UK for a few years and was asked to provide a copy of my US credit file within order to get a fully clad rate on a home mortgage over there. My record be good, so I got the temperate rates and halved the rate I would have salaried otherwise.

If he's moving from the UK to Spain, it's very likely that his credit transcription will follow him automatically as Span and the UK are both EU member nations. Not much different than moving between states within the US. And if it's not that way today, it certainly will be within the near future.

All that said, it's not your problem. Unless he asks for warning, you should keep you nose out of it.

Some things about humans never change. To wit:

Never run away from your problems, they'll other catch up to you.
Always.

And if they don't, sounds like your friend will simply make new problems for himself, anyway.

Very creepy ,does your friend know how small the world is !
Maybe he likes running ,also the debt s will get bigger,the longer it go on !

Oh yes, if they think it's worth it, they'll come after him - Spain is not as far as he thinks when it comes to debt owed. Also, if Spain does not work out and he wants to come back here, he'll have those creditors to answer to. I'd suggest he speaks to them - even if it's to come to some sort of agreement while he settles contained by Spain!