What happens to my loan if no deal is reached?

idkwhattosay

I was wondering since there is a possibility, albeit a small one. After Article 50 this week (hopefully) If EU says screw you UK and UK says screw you too EU and no agreement is reached to secure the rights of EU nationals living in the UK and UK nationals living in the EU and I am told that by this date (could be few months) I need to leave the country or I will be living here illegally and I pack my stuff and leave, what obligations do I have to continue paying off my bank loan? Say I have couple more years before I pay off my loan and I am told to leave the UK within 6 or 12 months and I haven't paid off my loan, what happens then? Same goes for other financial burdens like direct debits (for example: cinema card, mobile contract etc.) I'm just curious as nobody seems to be discussing it.

Thrugelmir

Doesn't require a deal to be made. The UK Government can offer foreign nationals whatever they wish to. Not as if things would change overnight either.

michaels

I suspect very few debts of those leaving the uk are chased successfully so as long as you are not planning on returning to the uk I suspect you could safely leave your debts behind now.

Thrugelmir

michaels wrote: »

I suspect very few debts of those leaving the uk are chased successfully so as long as you are not planning on returning to the uk I suspect you could safely leave your debts behind now.

Debt collection is international. Not as difficult as one would imagine to find people.

michaels

Thrugelmir wrote: »

Debt collection is international. Not as difficult as one would imagine to find people.

But legally can you seize assets in one country for debts in another?

kabayiri

I believe...that if you have debts then customs steal your shoes on the way out of the country; sell them on; and give you slippers instead.

(or so a bloke down the pub told me)