running away from loans...

tigerstyle07

just a question..

if someone had a personal loan of 5k and the moved to a different country, say america or south america would they be caught and how long would it be until they could come back? Would they be able to return to the uk, even for a holiday? or wouod interpol find them? please answer soon. thanks so much.

momisa

I've wondered about this too.

However, debts are debts whether they are loans, credit cards or unpaid house bills.

I suspect that if you leave the debts in any country then you will be legally obliged to pay them. Depending on the size of debt and the amount of time that its been outstanding will depend on whether you are arrested at the airport when you decide to re-enter.

The other point to note is that you may leave a loan of £5k in the UK and say you don't return for 10 years I'm sure you'll have to pay;

£5k + admin costs + legal fees + all the interest

I'd personally prefer the freedom to roam where ever I choose with a clear conscience.

Hope this helps.

tigerstyle07

i know, ur right. id prefer a clear conscience 2! thanks! x

jamesd

The normal statute limit is 6 years, 12 for property loans. It's very unlikely that an international search would be conducted unless the lender had some reason to believe that you have departed the country. Defaults are not an arrestable offence so it's also unlikely that you would have a problem if you visited the UK. What is likely is harassment of your family in the UK by debt collectors for at least six years.

However, it sounds as though you might be contemplating fraud - taking a loan knowing that you have no intention of paying it back - and that's a very different matter: a crime.