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
What “exactly” happens depends on the specific details in the case. What, in general, would happen is:
– Your credit score in the country of your origin will tank.
– The bank will file a suit that will be held in your absence and that they will likely win.
– The bank may be permitted to seize any assets you have in your country of origin. If you continue to work for a company from that country, your wages may be garnished.
– If the debt owed is large enough, they may pursue a case against you in the country that you fled to.
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