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What happens if you take a loan for 10000 in the UK and then leave for the USA?
Wiki User
∙ 19y ago
A logical guess would be, the person can be held criminally and civily liable for the debt under British law. Entering into a financial contract w/o having intent to repay is a serious offense regardless of the country. It would not be likely the person would be pursued for legal action while in Another Country's jurisdiction. However, if any property was left behind it can be attached and sold to repay the debt. The person might be charged and taken into custody if they return to the country where the debt is owed. Another factor could be if the debt was incurred at a financial institution that is based or has affiliates in the U.S.
Wiki User
∙ 19y ago
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What happens if someone has a loan default statement?
If someone has a loan default statement, it means that the person who took out the loan has not met the terms of the contract, for example they have not met the payments. If this happens then the person who gave out the loan and who the debt is loaned to can take action to recover the money, for example re-possession.
What happens when you take out a cash advance loan and do not pay it back?
u'll have 2 pat more
What happens if you move and have a reverse mortgage?
Just pay off the reverse mortgage just as any other loan. If there is negative equity you can leave the home to the lender who will take the loss. A reverse mortgage is a non recourse loan, meaning the lender does not have personal recourse against the borrowers if there is negative equity in the home.
What if happens if you cosigned for car loan and the borrower files for bankruptcy?
if the consigner files bankruptcy can the borrower take the car
Can a bank take property they have no interest in?
Yes, a bank can take property that they have no interest in. This usually happens when a person has not paid their loan, and now has no right to the property.
What happens if you take a loan for 10000 in Australia and then leave for the India?
The bank in Australia that gave you the Australian dollar 10000 loan will file a legal complaint against your name. Your name will be blacklisted and you will be caught the moment you step into Australian soil. Also, the bank can raise a formal complaint with the Indian Embassy and ask for extradition of the offender (you) and you may be asked to come back to Australia and either repay the $10000 you borrowed or face criminal trial and be jailed for escaping the country after borrowing money from a bank.
What is 75 percent off of 10000?
75% of 10000 is 75/100x 1000 = 7500. Take that off to leave 2500 which is 25% of 10000
What happens when you take out a loan?
You owe money
Can I take out a loan of say 10000 if I own a house with equity but have no job?
yes as long as the loan amounts already on the house do mot exceed the houses value
Suppose the value of the car is 10000 and you take the loan amount of 10000. While you want to get registration by showing the car value to be 5000. Is it possible.?
no it is not! i hi Andrew lee lommen
What happens if your car loan is illegal?
then they take your car and repo it.
What happens if you don't pay off your car title loan?
they take your car
What happens if you are in default on a car title loan?
The creditor reposseses the car, and you take the bus.
What happens if someone has a loan default statement?
If someone has a loan default statement, it means that the person who took out the loan has not met the terms of the contract, for example they have not met the payments. If this happens then the person who gave out the loan and who the debt is loaned to can take action to recover the money, for example re-possession.
What happens the the extra money from your loan that the school doesn't take?
You should receive a check from the school for the difference after all tuition and fees are deducted from the loan.
What happens when you take out a cash advance loan and do not pay it back?
u'll have 2 pat more
What happens when the boys take Willy to dinner?
When the boys take Willy to dinner, they leave with two women and leave their father stranded at the restaurant.
