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bananaboy111

Payday loans

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Hello everybody.

 

I just want to know the legalilities in principle. say for example I successfully applied for 200 payday loans from different companies for the top amount, lets say £1000 from each.

 

I would have £200K

 

What is stopping me from leaving the country with the cash?

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?????


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Would there be legal implications?

 

I understand big loans from worldwide companies you can be chased down for these. Im just saying IF you were to obtain a lot of money, and move elsewhere. Could you be in big trouble on return to the UK?

 

Im not thinking of doing this as im not a numpty. Someone was saying at work and it got me thinking, would it be possible?

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Much as many of us despise these companies, this would be fraud as you're taking the loan with obviously no intention of paying it back.....

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Not worthy discussion imo.


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If you dont like the discussion, then quite frankly dont join in?

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If you dont like the discussion, then quite frankly dont join in?

 

:bored:


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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Hello everybody.

 

I just want to know the legalilities in principle. say for example I successfully applied for 200 payday loans from different companies for the top amount, lets say £1000 from each.

 

I would have £200K

 

What is stopping me from leaving the country with the cash?

 

You are unlikely to borrow so much as these lenders are linked or share the same credit database. I would say you would not get beyond 4 or 5 loans.

 

Technically - if you intend from the start not to replay that could be seen as fraud - and would come under the criminal law.

 

In practice if you default on debt and leave the country - how important is your credit rating to you? Might you return within 7 or 8 years?

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Old post, but its obviously criminal fraud which they could trace you and end up extraditing you, and throwing you into prison for a lengthy term.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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