Loan default

C

crazy7381

Guest
Hi

I have taken out a personal loan from bank of ireland for 15 k I had to do tat to pay my bills as i was in a financial mess now i got a job in middle east and dont know wat to do. I am from Asia and I want to know if I put in my payments for next year and leave wat will happen to me will the bank will come after me I dont know wat to do I dont want to do this and pay my loan but right now my priority is to just leave ireland is there any way out of this
thx
 
Who knows but if you have a job why not continue repaying the loan from the middle east. The fact is you didn't pay off your debts by borrowing 15k, you just restructured them.

If you don't you will default on the loan. Whatever happens to you. Your actions will make it more difficult for other foreigners in desparate situations to get finance.

You may not give a toss, but your financial behaviour will catch up with you one way or another.
 
Yeah I know it will catch up with me but I dont think I have a choice right now. I dont know wat the bank will say if I tell them I am leaving the country for good but my problem is I dont know where I end up at.

Just concerned how the bank will deal if i leave do they have an organisation in ireland that helps people in these situations may be an advice will be good for my options available
 
Why not pay off the loan from abroad?

Your credit rating is likely to be 'nil' in this other country - might it be worthwhile to show that other bank (whenever you need a new loan) that you've a good credit history?
 
I wish I could say I will be able to pay it off but I really dont know if i could coz i am going to a country which i know nothing about may be when I get settled in I might but I am not sure whats gonna happen Do u think if i try to speak to the bank and get them to understand I have a standing order. The loan is for 5 years I think I can manage it around for 2 years might leave the money in the bank.

I did had a loan before and is all paid for no bills nothing for the last 8 years just this one. Do you guys know wat will happen if i default after 2 years
 
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