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Vineet S
Vineet S,
Category: Bankruptcy Law
Satisfied Customers: 58
Experience:  Freelance Solicitor at Self Employed
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I have a question. I have a 25k loan at a bank. I am unable

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Hi there. I have a question. I have a 25k loan at a bank. I am unable to pay anymore and I have to move back to my country, Bulgaria, and the wages there are very small, I have no possibility to pay back from what I will earn there. I basically want to go back to Bulgaria without paying the loan back. Are there any possibilities the bank can block my bank accounts and take my house/car etc from Bulgaria if the bank that I have the loan from has no banks in my country?
JA: Has anything been filed or reported?
Customer: Not yet because at the moment I am paying it
JA: Anything else you want the Expert to know before I connect you?
Customer: No

Hello, Welcome to JA. I’m Vineet , a UK Solicitor and will be dealing with your case today

Customer: replied 12 days ago.
Hi there

I may have to ask some questions for establishing the legal position.

Customer: replied 12 days ago.
Not a problem

Please note that during the course of our online conversation, you may be asked if you would like to request a phone call with me. JustAnswer automatically generates these phone call requests without input from the expert, so I have no control over these requests. I can easily help you without a phone call. But if you prefer a phone call, that is also an option

Customer: replied 12 days ago.
I am fine with just chat


what is your specific question?

Customer: replied 12 days ago.
So basically i have a 25k loan at a bank and I want to leave the country without repaying it because I can’t afford it. I am originally from Bulgaria and I wanted to know if banks have any legal powers to follow me around in Europe to legally make me pay. Like coming after me in Bulgaria and to take my house or car etc to repay their loan

I will get back to you with my answer as soon. The system will notify you when this happens.

Customer: replied 12 days ago.
This loan was made jointly with my wife and she left with the money and now I have to pay it and I will not because i did not benefit from the loan, we took the loan together but she left with the money in Spain


In a joint loan, both parties are jointly and severally liable for its repayment.

Customer: replied 12 days ago.
Yes i know but i dir not benefit not even from half of the loan, i know it’s my fault, but still, i just want to leave back to my country
Customer: replied 12 days ago.
I can’t afford to pay that much every month no more

It is always advisable to speak with your Bank if you are facing any difficulties in the repayment

so that both parties can mutually agree to some repayment arrangements

Customer: replied 12 days ago.
I know I can talk with my bank about that, I just want to know if they have any legal procedures to come after me abroad in Europe to recover their money

UK debt can be collected in the EU.

Customer: replied 12 days ago.
How can they? Through the country’s HMRC or through private debt collectors?

can be also without all these agreements or a CCJ in the UK Court. If the collection agency has a partner firm in that EU country they can use that firm to collect the debt

through Private debt collectors

Customer: replied 12 days ago.
Customer: replied 12 days ago.
Even after brexit?

yes, even after Brexit, UK will have arrangements in place with other EU countries to act against defaulters and criminals. So it not advisable to take that route

Customer: replied 12 days ago.
Ok i understand. I will try to sort that out with the bank but i can’t understand how because i have a repayment of 300£ monthly and back in Bulgaria the wages are 500£ so basically it is impossible to pay that amount

At present , there is a European Payment Order, which allows debts to be enforced and collected across borders.

Customer: replied 12 days ago.
It is unafordable. I would pay that back but when I took the loan i took it together with my wife, we were both working, now she left with the money and left me with the debt and one wage. I get about 1200£ month so i can’t afford paying out 300£
Customer: replied 12 days ago.
I have to eat and pay rent

you can speak with the bank and agree to some repayment arrangements as per your financial condition.

Bank can not act against you as a defaultor if you are paying some part of the loan amount, doesnt matter how small the repayment figure is


Customer: replied 12 days ago.
I understand. Thank you
Customer: replied 12 days ago.
That was all

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It has been my pleasure to assist you!”

Thank you and all the very best

Vineet S and other Bankruptcy Law Specialists are ready to help you