Seeking advise with some debts problem?

I have some debts from a bank and it has being 6 months since i contact or actually heard from the bank due to the changed of my number and address but i didnt report to them. i would like to know am i on a path to ship warck or i'm in it already? what are the possible consequence i will face when they eventually find me? and what if i escape my debt to another country would they still be able to take lawsuits againt me ?Seeking advise with some debts problem?
What happens really depends on the size of your debt. Your ship definitely has a hole and could be sinking.





Either way, you're probably going to have a creditor sent after you, you're dealing with a bank. They will find your new address and telephone number unless you're extremely under the radar. Once they have this information, they will call you, send you letters, and if enough time passes you may even get a knock on you door (depending on the laws in you area). Again, depending on where you are, they may be able to find you and repossess and liquidate your items to pay off the debt. This is more likely if the debt is huge. If it's a small debt, you're just looking at harassing phone calls and mail. You'll also have plenty of interest tagged onto the principle and you may even be responsible for compensating the creditor the banks sends after you.





Good news is that in many areas there are enforceable limits on how often and in what ways a creditor can contact you. There are also laws limiting the amount of interest you can be held responsible for. Also, there are companies out there to help people in your situation. They can talk with the creditor to work out a deal for you and prevent the creditor from harassing you. If you're interested, look it up in the yellow pages and I'm sure you'll find one.





You will probably be able to evade the debt by leaving the country. However, if the debt is astronomical they will still find you, unless you live totally under the radar.





Good luck!Seeking advise with some debts problem?
Deal with it like an adult. You undertook to repay these loans and now you are going back on your word. Yes you can escape to another country, however, what about your own personal integrity? Seems you have none. If you should return to the country where you owe this money, you will have a very bad credit rating and will not be able to obtain credit from anybody for any amount - even $1


You will find that the bank has already assigned your bad debt to a collection agency, who will not be as nice to you as the bank. Your best course would be to contact your credit provider or the people who now have your debt before they catch up with you. Try working out a repayment plan - look at what you can afford to pay each week you will be able to salvage something if you are proactive and don't bury your head in the sand.
You are on the way to ruin. The interest keeps accumulating and your problems will follow no matter where you run.


Start handling your problems like an adult and set up a repayment plan