if you have loan for 40000$ from a bank?

Question

you out of the country for three years and you haven't call the bank and now you want go back and you want pay them back what is going to happen?is they take u to the court??? or they say ok pay us back with lots of intrest? please answer if you know something about it. and dont tell gramer or spelling mistake because iam not english!.thanks

Answer 1

Call them!!! Chances are if you are trying to pay them they will take it, however they may have sold the debt to a collection agency which means you may actually get off cheaper. You need to get in touch with the bank, only they will be able to say for sure, but I doubt they would want to argue when you are offering to give them the money now, late or not. Yes you may have some big fees and stuff tacked on by now.

Answer 2

It will depend on what has occured to the loan while you were gone. The bank probably no longer owns the debt. It was probably sold to a 3rd party collector. You may have already been taken to court. There could be even bigger problems if they thought you had committed fraud. I suggest you start carefully by getting your credit reports from the 3 bureaus. Use www.annualcreditreport.com. Find out what creditor has the loan. Find out if there are any judgments. The contact information will be on the credit report. Don't contact the creditor directly unless you have the money ready to pay off the loan. They may try to sue you if they know how to reach you. Post another question when you have more information from your credit report.

Answer 3

Chances are, they'll allow you to pay the loan off without further action. There's nothing in it for them to do anything else. However, the are probably going to charge you all the interest due and will be hesitant to waive any late fees, particularly if you just disappeared and they never heard from you.