Credit card debt

Posted by hklccc (1136 days ago)

I've been inHK for 3 years. Have a tourist visa.
When I came here 3 years ago I got a credit card from HSBC and proceeded to spend the full limit, HK$70,000 thinking that I would return to the UK and never need to pay it! However, I'm still here and everytime I come in and out of HK I"m worried that immigration will have a record of this as I gave my passport as ID for the credit card.
Anyone got any ideas on the possibility of getting caught and what would happen?!

(I am based in Hong Kong)

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Posted by douglaskoh (1136 days ago)

You will never be detained by police for debt. However, HSBC may sue you and make you bankrupt.

(I am based in Guangzhou)

Posted by FOTH (1135 days ago)

You are obviously already morally bankrupt. Frankly, I hope that the chances are high.

(I am based in Hong Kong)

Posted by WDRL (1135 days ago)

such poeple as you should be removed from Hong Kong at once.

(I am based in Hong Kong)

Posted by StMichael (1135 days ago)

I agree with FOTH. A pity it doesn't work that way. I believe it's a civil case rather than a criminal case. But whether HSBC can serve a letter of demand to someone in the UK based only on a passport number is another story.

Oh boy, how can anybody THINK of doing such a thing!

Michael Chan
www.senseimichael.com

(I am based in Shanghai)

Posted by Chau/Maria (1131 days ago)

This certainly could happen..we suggest that you hire us to contact and negotiate with HSBC re settling for an amount less.....meet us and we will coordinate..

Weir & Associates
Solicitors & Notaries
Agents for Patents & Trademarks
24-Hour Hotline: 852-2526-1767
Fax: 852-2868-3568
Email: Info@HongKongLaw.com
Webaite: http://www.HongKongLaw.com/weirlaw

(I am based in Hong Kong)

Posted by oldhand (1130 days ago)

you picked the wrong bank they will track you down

(I am based in Hong Kong)

Posted by tsuiwah (1128 days ago)

HSBC shares are listed in London, aren't they?

In any event, how did you get a HK$70,000 credit line with just a passport?

(I am based in Hong Kong)

Posted by dimac4 (1119 days ago)

My understanding is that the immigration dept. cannot prevent you from leaving HK with a debt.

However, if you owe the government money, they can prevent you coming back in until you have paid it - your situation is a civil one and therefore the immigration dept. would have no record of it until you are charged with a criminal offence - then they would probably get a bit upset with you.

That was a pretty dishonest thing to do - do you do it in every country you visit?

(I am based in Hong Kong)

Posted by K. Barrett (1118 days ago)

Anybody who leaves a country without paying debt or breaks signed contracts ruins it for the ones who abide by the rules.

Make effort to pay the money back, I am ensure that the bank will assist you if you approach them first, but if they find you then no doubt they will try to reclaim the full amount plus interest and costs. HSBC is not small bank either, so your debt could follow you to other countries.

(I am based in Guangzhou)

Posted by Tidings 2 (376 days ago)

If you owe money to Inland Rev they let you out but not back in? I don't understand. It would seem they want you to stay and not let you go....

(I am based in Hong Kong)

Posted by _Argus__ (375 days ago)

>Weir & Associates

I'm in a similar situation too, with a debt of 65k to HSBC for about 2 years but I have no idea how to solve it.

I've few questions.
a) For about how much may I expect to settle the debt of 65k and what kind of deal?
b) How much does your company charge for it?
c) How would that be possible for me to ever hold a credit card in HK?

Thanks in advance.

(I am based in Hong Kong)

Posted by 190k (371 days ago)

Its a CRIME "proceeded to spend the full limit, HK$70,000 thinking that I would return to the UK and never need to pay it!" he took the card and spent the limit thinking he did not have to pay that is "Deception" when he applied for the card as if the HSBC knew he had no intention to repay tehy would not have issued teh card to him.

(I am based in Hong Kong)

Posted by gdbill (369 days ago)

I don't believe that OP has an HSBC Hong Kong credit card. HSBC policy is to only issue credit cards to people with HKID. In fact, I think that is a HK Monetary Authority policy.

(I am based in Guangzhou)