Moved abroad, difficulty repaying loans

Bok

Hi There,

I have recently moved back to my home country in the EU, after living and working for 5 years in the UK. I still have debts outstanding in the UK (2 loans, around 20k), because of bad luck selling my house 2 years ago.

When I moved back I had a nice job and could pay off my loan by sending repayments to my UK bank account. I was going to transfer my debts over here within 6 months.

I have had an accident however over here in the Netherlands, which will probably change my life forever and I won't be able to continue my job (as I was in my probation period, my contract was cancelled). Finding a new job which will pay me a good enough salary to live over here AND pay of my debts in the UK will be very hard for the coming years.

I don't have any intentions of ever moving back to the UK. I am currently using my friends address in the UK as postal address. I am thinking of closing my bank account which pays my direct debits and hoping all will be forgotten (even though I am not that kind of person, I am getting quite desperate). I have read some of the other forums and have not been able to find the right advice yet.

Any help on this will be very much appreciated.

iolanthe07

It will not be forgotten, but you might get away with it if you never come back to the UK again. Whether you can persuade yourself that your action would be morally right is, of course, another matter.

Bok

You are completely right about it being morally right or not. The other problem is that at the moment the loan is registered at my friend his address. I know that he will potentially lie to me, but will he get into problems if I "Dissapear"? I have never lived on that address and am not on the electoral roll over there. Just using it as a postal address.

I would like to weigh all the pros and cons before making any decision on this. Any other things to take into account?

Thanks again.

dmg24

There is nothing to stop them catching up with you elsewhere in the EU. Even if you never lived at your registered address, I am assuming that you had a UK bank account, and through this you will no doubt be traceable back to your home country.

People have this idea that you can just disappear and not be caught up with at a later date. This is very rarely the case.

krisskross

Bok wrote: »

You are completely right about it being morally right or not. The other problem is that at the moment the loan is registered at my friend his address. I know that he will potentially lie to me, but will he get into problems if I "Dissapear"? I have never lived on that address and am not on the electoral roll over there. Just using it as a postal address.

I would like to weigh all the pros and cons before making any decision on this. Any other things to take into account?

Thanks again.

So did you get the loan while not living there but giving your friends address? Where did you live when you took out the loans? Your friend will just have to say you don't live there and he doesn't know where you have gone to. Bit naughty all round though.

Bok

dmg24: There is no relation with my current bank in the UK and a previous address of myself in the EU. This is because that bank, nor my previous bank in the UK has never had my EU address. I can't remember though if the loan provider or the bank ever had a copy of my passport...

krisskross: I took out the loan at a previous address where I was living. I have only changed the address to my friends address when I left the UK.

Thanks again for all your help so far. I am still undecided though...

Crying_over_spilt_milk

Bok wrote: »

dmg24: There is no relation with my current bank in the UK and a previous address of myself in the EU. This is because that bank, nor my previous bank in the UK has never had my EU address. I can't remember though if the loan provider or the bank ever had a copy of my passport...

krisskross: I took out the loan at a previous address where I was living. I have only changed the address to my friends address when I left the UK.

Thanks again for all your help so far. I am still undecided though...

I am interested in whether you could be found (without Interpol!) easily enough to make it worth your creditor's while trying... I don't know who or where you can get more help with that one...
However, do ignore these self-righteous creatures on here who preach about morals. You clearly have a conscience and it is not your fault you have fallen on hard times. They would be better advised to waste their time preaching to all the immoral financial institutions & esp. DCAs! Good luck!

dozy_dora

Bok wrote: »

...The other problem is that at the moment the loan is registered at my friend his address. I know that he will potentially lie to me, but will he get into problems if I "Dissapear"?

You are right to be concerned about your friend getting into trouble.

My ex moved abroad, his creditors threatened to take out a court order to force me into giving information. They constantly bombarded me with letters and phone calls until I threatned to take them to court for harrassment. The loan was not registered to my address.
I doubt it will be forgotten. My experience was 7 years ago and I (and my neighbours!) still receive the occasional letter asking for information re whereabouts etc etc and offering a 'reward' ! - how good a friend is your friend?
HTH