Thread: old unpaid loan

Hi all,
I have immigrated to the UK some years ago and it all went fine until I had some problems back home. Had to leave everything behind, together with a half paid self employment loan (unsecured) from lloydstsb. There are 2 and a half years now since I haven't entered the UK, although I am planning to come back and restart from scratch. Do you have any ideas to what I might expect from the bank? How will my credit score look like?

I have to mention that in the meantime my country has joined the EU and that are probably different laws that apply now...

Thanks a lot!

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Interesting, i'm not sure credit wise how you'd be affected if you are a foreign national and have been out of the country for a while.

At the previous address at which you were registerred you've likely been defaulted. I would suggest not using your previous residence whilst you were here, but that is a decision for you.

If you are located I would consider taking the matter to the financial Ombudsman as no doubt they've added penalty charges which are likely to be unlawful.

Thanks for the quick reply Enron,
So what you're saying is to come back but use a different address... that's interesting ... completely forgot about the changing of address trick

The thing is I really want to pay it back... no matter the charges...unless, of course, they seem unlawful.

So your recommendation is to come back, get hired/find a contract and then go to the bank and deal with it, right? I shouldn't expect going to jail or anything... right? :o ... It will probably take me a few years to build my credit rating up just like it happens with anybody in the UK who's declared bankrupt or so, I guess!

Obviously any decisions you take are of your personal choice.

If you are intent on clearring the debt I would be tempted possibly to go and have a word with a citizens advice bureau who maybe able to act as an intermediary on your part.

Undoubtedly there will be penalty charges realting to the account, in which case the Financial Ombudsman might be an idea.

You are doing the decent thing and want to pay of any debt but I wouldn't stand for a whole raft of penalty charges that have been applied in your absence.