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Change name to avoid debt
Change your Name to clear debt
Some people with outstanding debt often ask - If I change my name, will my creditors find me? The reply is - not always. It would depend on certain factors. Here are the actions you need to take to change your name and clear debts:
1. Change your name without informing the electoral office or anybody. Do not make the mistake of changing your name through a deed poll, public notice or statutory declaration otherwise you will be easily traced.
2. Leave for a new place, preferably different state.
3. Trash all the documents bearing your former name or details including passport, SSC and driving license. Do not use ATM card or check. Do not use your former name or email id online.
4. Find a job. You will be paid in cash. You would perhaps be underpaid without a SSN. Find an accommodation in a suburban colony. Do not disclose your former identity to anyone.
5. Build credit history with local creditors for the future. Use prepaid master card. Do not approach a bank.
6. Start your own business for better earnings.
7. After five years, apply for a Certificate of Naturalization. In the UK, one has to wait for a period of six years. If you get married to a citizen, then you can get this after three years of marriage in the UK as well as in the US.
Tips & Warning:
If you were to go into a bank to open an account they will normally ask for a copy of your Driving License or Passport. This is then sent to the head office. If they check your details, the photo will be matching your last one. So please be warned as this will cause a fraud on a Credit File. It will automatically link you to your old name.
Having changed one's name without informing the electoral office and living in a different state without a Social Security Number or any such document is perhaps the best way to clear a debt without paying up. A person can easily live in any state of US without a Social Security Number or driving license. He can get a job though there are chances of being underpaid. One can also find an accommodation. One can also get credit from local creditors. Even without a SSN, people get some benefits. A great way to live and earn without a SSN is to run a business.
In the US:
Firstly, Credit Search companies cannot see that you have changed your name unless you have told the Electoral Office about it. National Insurance Number does not change. Date of Birth cannot be changed too, but this cannot be tracked down. The Works & Pensions Department or any such authority is not allowed to give this information to the creditors on account of privacy policies. However, creditors can get your new name from the Electoral office if you have been there. Secondly, your SSN remains the same. So in order to avoid trouble, you need to trash all your previous documents including passport, driving license, etc. Move to a new place preferably a new state. Find a job and an accommodation. Be prepared to be underpaid without a SSN. Do not perform any job (particularly online) with your former name, email id, address, etc. Do not make the mistake of performing any transactions from your old account.
It would be safer to take credit from local/private creditors. You can also start your own small business in the new community. After five years, one can apply for the Certificate of Naturalization and a Passport. It is very important to maintain good records at work, credit and society during this time.
In the UK:
Debt collection laws have become stringent in the UK after so many debt escapes. The UK has reciprocal agreements with many countries regarding debtor trace. Creditors sometimes employ the method of selling debts to debt collection agencies in the country or place where they suspect the debtor lives. Changing your name is simple in the UK, but running away from debt is difficult. It is a bad idea to approach a bank. Yet many people have got away by being cautious and systematic in their approach. Some have moved to a different county while many have even moved out of the country. However, following the above mentioned steps is the best way to change name and clear your debt.
There is always an element of risk if you are careless and do not follow all the steps. If traced, you will be accused of both theft and fraud. A creditor has a period of six years from the last time a person acknowledged a debt to use the legal system to recover money. However, if a creditor has taken legal action on an account, the debt can be legally recoverable indefinitely. This means that someone could start a new life abroad and work hard to accumulate assets only to get traced by the creditor one day.