More specifically, when someone takes out the highest loan amount from the bank that they can & then flees the country in order to not pay it back, what exactly happens in such cases?
In: Other
Depends on where the person flees to.
Assuming the person flees to a country that wont work with local law enforcement the only thing possible is seizure of all remaining assets in the country and arrest upon reentry.
This is one of the reasons why banks wont give high amounts of loans to people without assets that can be liquidated in such a case.
Latest Answers