Secureded loans...

theartman

My partner soon to be my ex has a loan to the value of £10000. She has made three payments. And now she has decided to move out of the country hence the breakup. What will happen if she fails to make payments? Will she be tracked down?
Thanks.

jonesMUFCforever

Probably - if it is not in joint names and you are not financially linked to each other you have nothing to worry about.
If you do find out her address a letter to the loan company would not be a bad idea - after all it is all the rest of us that do pay our debts back who subsidise those who don't by having to pay higher rates.

WhySoHard_2

theartman wrote: »

My partner soon to be my ex has a loan to the value of £10000. She has made three payments. And now she has decided to move out of the country hence the breakup. What will happen if she fails to make payments? Will she be tracked down?
Thanks.

No I do not think they will track her down. It is very unlikely. They will eventually just write the loan off and file a default on her credit file.

jonesMUFCforever

For ten grand they will attempt to find her and add any charges in doing so to the debt.