leaving the country

[mavrick555]

a work collegue has been talking about taking a loan out and moving to europe, she says that because she is not in the uk nothing can be done and that she would be blacklisted in the uk but no tin europe.

is this true what is the legal position on this?

[Oneeyedvic]

Legally, if she were to take out a loan with no intention to repay she is commiting fraud.

 

That said, trying to enforce an agreement on someone not in the country is nigh on impossible and rarely worth the hassle - but it does depend on the amount involved. If the amount is fairly small (ie under �10,000 it will not be worth while. Anything over that and she may find bailiffs calling. Bear inmind that they are not cheap either, so a loa nof �10k, with interest would go up to around �12k, but with charges probably around �18k.

 

Also, what would happen if the Europe thing did not work - she would find it very difficult to get credit when she came back on the basis that she would not be on voters role, and her previous uk address would proabably show a judgement / arrears.

 

It is a shame that people think they can get away with this sort of thing. I am afraid that it rarely works

[Bangkok]

Agree with oneeyedvic, particulatly on the grief of coming back and the fraud issue.  She should also consider that the European banks are starting to integrate and merge more, and the bank she does a runner on may one day hold her savings or morgage in the new country of residence.  I don't know that they could do anything as drastic as taking her savings, but I imagine they could balcklist her in that country.

 

 

[WoWo]

If she was doing a runner to Brazil she might get away with it but if she went to Europe most banks would ask for ID and previous bank history before she could open an account. Most European banks are the same as here with a different name or owned by the same parent company. In short she's no chance and as has been said she would be commiting fraud, on entry back into the UK (even for a quick Christmas visit) she would run the (very very small) risk of being arrested and charged.

[mavrick555]

my collegue was planning on taking the money out via a loan company making a few payments ie between 1 and 5 while she was moving that way not running up bad debt before opening a european account. as far as i'm aware it would be very hard to prove that she was deliberatly dodging the loan.

what are your views on this?

 

[senga-marie]

Conspiracy to defraud ! Your 'colleague' could end up getting you both nicked.