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My son has an outstanding loan of £12,000 but he has moved abroad. What will happen if he doesn't pay?
My son has moved abroad and has left a £12,000 loan behind as he cannot afford the repayments. The loan company do not know he has moved. What will happen if he doesn't pay?
The creditors have six years from the date of default to sue him. If they do and obtain judgment there is no deadline for enforcing that judgment, although leave of the Court will be needed to enforce after sx years has passed from the date of judgment. In addition many countries have bilateral agreements with the UK which allows English judgment creditors to enforce abroad in many instances
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