What happens if I stop repaying the loan Halifax gave me?
| Author | Message |
|---|---|
|
Written on: 25.11.2009 [09:32]
|
|
|
Kimberley
Kimberley
Topic creator
Posts: 3
|
What would happen if I were to move abroad and just stop paying back my loan? Halifax takes the money directly from my Barclays account but if I were to close this account and move abroad what would happen? |
|
Written on: 27.11.2009 [23:34]
|
|
|
Edward
Edward
Posts: 1
|
Well it depends how you intend to live. If you think that you can go 7 years without applying for anything at all, no credit, no phones etc then yeh go ahead. 7 years is how long it takes for the credit fall off your report and it is pretty difficult to live for 7 years with no credit cards, maybe not even an account depending on where you are moving and if they have an agreement with the British. But most people who have tried to do so end up getting caught, the banks sell the debt to a debt collector in that country who then has the right to chase you for it and repossess your possessions etc. |
| Also very interesting: | |
