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JimLawyer
JimLawyer, Solicitor
Category: Law
Satisfied Customers: 12021
Experience:  Senior Associate Solicitor
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If I move abroad do still have to keep paying my loan,

Customer Question

If I move abroad do still have to keep paying my loan
JA: Where are you? It matters because laws vary by location.
Customer: Sweden
JA: What steps have you taken so far?
Customer: Not paid but they are sending me threatening emails
JA: Anything else you want the Lawyer to know before I connect you?
Customer: No
Submitted: 20 days ago.
Category: Law
Expert:  JimLawyer replied 20 days ago.

Hello, this is Jim, thanks for the question.

If you move abroad to another country then your credit rating is only affected in the country where your loan was. You will get a new credit rating in another country. However, if the lender knows where you have gone and they know your new address, they can sue in the country where you took the loan, then transfer the judgment to your new country where you live, to enforce it. So it really depends if you tell the lender you are going abroad and if they know your new address or not. They may check social media to trace you too so bear that in mind. If they sue, bear in mind they have up to 6 years to issue a claim in the country where you left to get a CCJ against you, which then lasts another 6 years, so if you planned to return to the country which you left, you will have a damaged credit score. To pay a loan means you have a contract with the lender, so if you stop paying then you are in breach of contract - meaning they can enforce or use the courts. But they are unlikely to do this if they have no idea where you have gone to.
I hope this helps, please feel free to ask any follow up questions.

Jim

Expert:  JimLawyer replied 20 days ago.

Hi, I'm just checking to see if you need any more help with the question. Or if I can clarify anything regarding my answer. If so, please do let me know.
Many thanks,
​Jim