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Unsecured Personal Loans from UK Banks but now living in India


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Hi Experts,

 

I really really need some advice about my UK debts. Here is my situation:

 

I was living in United Kingdom for over 4 years on work visa. In the begining of 2010 I took 2 personal loans from Halifax Bank (£ 22000) and Tesco Personal Finance (£ 15000) I also had a Capital One and Halifax Credit Card with over £3000 outstanding. My younger brother had a loss in his business and I had to help him out come out of debts. All this money was spent in helping out my younger brother.

 

Unfortunatley I was made redundent from my job in UK and could not find another job. I had to come back to India 2 months ago. Before coming back to India I had repaid for about 3 months against my Personal Loans and minimum payment against my Credit Cards.

 

Now I did not inform my banks/tesco etc. about my relocation to India. I have not paid them for the last 2 months. I have also been struggling to find a job in India now.

 

My questions are following:

 

1. Since I don't have any asset in India, can UK banks/tesco etc. chase me and take me to court in India.

 

2. What will happen now when I am living in India? Will they be coming to me through some Debt Recovery Agency?

 

3. How can I settle these loans/debts with Halifax/Tesco/Capital One? (As i don't have any job or means to pay now)

 

4. Can I declare myself bankcrupt so they don't chase me?

 

Please help.

 

Thanks

Akash

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1. Since I don't have any asset in India, can UK banks/tesco etc. chase me and take me to court in India.
If they knew where you are they could try.
2. What will happen now when I am living in India? Will they be coming to me through some Debt Recovery Agency?
As above, they will probably inundate you with letters & threats of things they cannot do.
3. How can I settle these loans/debts with Halifax/Tesco/Capital One? (As i don't have any job or means to pay now)
If you have no job and no income you can't.
4. Can I declare myself bankcrupt so they don't chase me?
Yes if you wanted to.

 

Have a read through these two threads;

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?250889-Can-I-Be-Sued-For-An-Overseas-Debt

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?255040-Declaring-Bankruptcy-In-The-UK-If-You-Now-Live-Abroad

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  • 7 months later...
  • 2 years later...
Guest unfairdismissal

Hi..i am think of doing some adventure..some advise please...i am on tier 1 ..will have to pay £5022 for visa ext and in mid of getting sacked by my employer...which bank u got such huge loans from and what reasons u gave for getting the loan? did u get response from akash?

what happened in 2 years..did someone around u came to know.any social stigma.did u face any problem getting IT job...

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this thread is 2 yrs old.

 

little point in posting here

 

start your own thread

 

there is a video below

if you are having troubles in starting one.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thanks

Guest
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