what happens if i can't repay my career development loan?

dachux

i have 6000£ career development loan through barcalys. i have payd of 3000. what can happen if i leave the uk and stop repayments? what would be the worst case scenario?

Rafter

Worst case is that barclays would declare you bankrupt and also fraudulent for abandoning your debt.

This could make it impossible for you to get credit in the UK for 6 years.

You might also never be able to get a job in financial services, accountancy and various other professions.

For the sake of £3,000 I would tell barclays what you are doing and reschedule payments or even get a payment holiday if you don't know how much you will be earning overseas.

After a few years they might accept a reduced offer for the loan outstanding which would count as a default on your credit file, but won't be as bad for you as a bankruptcy or fraud flag.

R.