Im moving a country for good, as my fiancee not from here.I dont know when i will get job in other country, but i have loan here and credit card.If i stop paid can they find me in other country.And my name different now.
2007-01-10 00:14:50 · 13 answers · asked by nfentel 1 in Business & Finance ➔ Credit
Okay, First, in order to answer your question, you gotta understand how financial institutions source for information.
Assuming your credit card was issued by Banque Populaire or any other banks. Before approving the issuance of your credit card/loan, they will check with the national bank of your country regarding your credit score. Since you have managed to obtained a credit card, it shows that your credit history was alright before this. I'll discuss both your credit card and loan scenarios.
1.Credit Card
Now that you have reached full limit of your credit limit or have a huge outstanding credit card balance, you decided to get out of the country. Congratulations, till date, the only source of locating individuals is through your employee dividend fund, or employee benefit fund or tax record with the bureau as compared to companies which we have worldwide credit information network.
If you do not work in your country anymore, then there's no way for them to track you down. The most is they will be making persistent collection calls to your family members if you have stated you have given the information during registration. Else, you could skoot free.
Action taken against you would be demand notices from the lawyer. If your amount is lesser than 20,000 dollars (depending which country) then they cant file you for bankruptcy.
2. Loan
Is it a personal loan, mortgage loan, it doesnt matter. Its the loan size that matters. If its a mortgage loan, and they cant contact you and after numerous notices, they will seize your property and all collaterals along it and auction it off only if the court grant the order which normally takes minimum 2-3 years. Upon disposing the property, they will sue you for the outstanding balance. However, if the outstanding balance is minimal say, below 20,000 dollars, they will most likely write-it off.
If its a personal loan, it applies the same as credit card. No payment records in the country, no where to trace you. If amount is smaller than bankruptcy amount, they will just try to locate you by making persistent irritating calls to your last known numbers or your close families.
Hope that answers your question. All the best =)
2007-01-10 00:33:30 · answer #1 · answered by Ben 3 · 0⤊ 0⤋
you can't get water from a stone; a judgment is only as good as enforceable ; I doubt if a minor loan is going to track you down country to country ; if millions yes; really depends where loan originated and where you are going; if in USA , social security number tracking is easy ; some will just charge off the bad debt ; depends on more details
2007-01-10 00:26:45 · answer #2 · answered by sml 6 · 0⤊ 0⤋
i have carried out this, except I saved in contact with them, providing them 25% as a very last settlement, they standard this. even if or not they are able to looking you? i have heard of human beings that were contacted in different international places with information from lenders of their previous u . s . a ., i'm not particular how a lot they could do although. i might want to imagine that's a lot less stressful for lenders between international places which have close economic ties, countless human beings right here contained in the united kingdom take out massive loans and then disappear to retire in Spain, i imagine doing that's slightly dicey although, extraordinarily when you consider that Spain and uk are both ecu contributors. when I took off I went to South us of a, so my creditor had no probability.
2016-12-02 02:08:54 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Did someone go guarentee for these loans cause if so they will have to pay it back! You can run all you want but they will catch up with you no matter if it is in 6 months or 6 years.
2007-01-10 00:20:08 · answer #4 · answered by The Weird One! 4 · 0⤊ 0⤋
Generally if it's less than about 20k, the bank will write it off. That's why they charge such high interest rates to the rest if us - we're effectively paying of defaulted debt, plus netting the bank a tidy profit too!
2007-01-10 00:32:35 · answer #5 · answered by Natalie B 4 · 0⤊ 0⤋
What you're saying is you've taken out loans in the U.S. including a credit card, now you're in debt and don't want to pay it back, so you're running away to another country and you've changed your name to avoid being caught. You're a fraud, a cheat and a liar.
2007-01-10 00:25:22 · answer #6 · answered by Anonymous · 1⤊ 0⤋
After it goes to court several times and you don't show up(cos u not there) they will issue a warrant for your arrest.
When they find out your no longer in the country they will send inter pol out after you.
2007-01-10 00:22:27 · answer #7 · answered by Anonymous · 0⤊ 0⤋
it depends how much the debt is. if pursuing you costs them more than the actual loan..it is not economically worth their while...in my opinion anyway!! although..why not offer to pay what you can..just to have peace of mind - what if you want to come back to this country?
2007-01-10 00:21:10 · answer #8 · answered by Anonymous · 0⤊ 0⤋
when u move never use your old address at banks etc.
your old address,work, etc will link you back to your old debt.
go on new voters roll under a new address with a friends house as your old address and after 3yrs at new address no background checks about old addresses will be needed by banks etc
2007-01-10 00:28:15 · answer #9 · answered by stevieboy 1 · 0⤊ 0⤋
depends where you are, and where you plan to go. If youre in England and plan to go to Scotland you done for. but if youre going to the otherside of the world and never coming back I think you'll be safe enough. but chances are you might come back one day and it might catch up with you
2007-01-10 00:20:54 · answer #10 · answered by Helen C 4 · 0⤊ 0⤋