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?
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Depends on how much the loan and what collateral was offered. High dollar loans would likely result in some sort of court action to seize the collateral underwritten in the loan, or go after whatever assets remain in the country. (House, other properties, bank accounts, retirement accounts, etc)
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