Looking for general information for a friend of mine whose son is currently out of the country.
Basically this person has the following:
A large(25K) personal loan ,a mobile phonebill (1500) and a credit card which he owes 10k.(overlimit by 500)
He has a house which is rented out and so the mortgage is taken care of, which is the only positive.
He hasn't paid any installments on loans etc and has basically ignored the debt since he went away.
He went travelling last August and plans to be away till summer 2009 at least.
I know from his parents that the companies in question have been sending letters (post has been forwarded to them) telling him to pay up/arrears etc.
I am just wondering what lies in the future for him and what action these companies are likely to take.
If a debt collector/other were to call to his house, they would only find his tennants, so what happens after that?
Will there be a 'special' escort waiting at the airport for him on his eventual return?
Basically this person has the following:
A large(25K) personal loan ,a mobile phonebill (1500) and a credit card which he owes 10k.(overlimit by 500)
He has a house which is rented out and so the mortgage is taken care of, which is the only positive.
He hasn't paid any installments on loans etc and has basically ignored the debt since he went away.
He went travelling last August and plans to be away till summer 2009 at least.
I know from his parents that the companies in question have been sending letters (post has been forwarded to them) telling him to pay up/arrears etc.
I am just wondering what lies in the future for him and what action these companies are likely to take.
If a debt collector/other were to call to his house, they would only find his tennants, so what happens after that?
Will there be a 'special' escort waiting at the airport for him on his eventual return?