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Would anyone happen to know what would happen if I default on my French car loan now that I am back in the UK. Would the company come and retrieve the car and would I be fined (or worse)? Any advice or information please?
Would anyone happen to know what would happen if I default on my French car loan now that I am back in the UK. Would the company come and retrieve the car and would I be fined (or worse)? Any advice or information please?
No, finance companies don't mind at all if you default on loans :der:Would anyone happen to know what would happen if I default on my French car loan now that I am back in the UK. Would the company come and retrieve the car and would I be fined (or worse)? Any advice or information please?
I reckon the car insurance will keep running also. You can't stop car insurance simply by not paying. You must prove it's sold or scrapped or disabled at a garageNo, finance companies don't mind at all if you default on loans :der:
This has to be a wind-up
French companies can pursue debts through the UK courts, and vice versa. It's not hard to track people down these days, there is always a papertrail via banks and government agencies. It's not hard to track cars down either, the VIN number is always recorded on the registration document wherever they are. Are you seriously hoping that a finance company is just going to shrug their shoulders and write off a debt without raising a finger? Debt collection companies make their living out of fraudsters like you, it is what they do all day every day and they know all the tricks. They buy bad debts from finance companies and they are very motivated to collect the money because if they don't collect, they don't stay in business. You will be a number on their list, they have bought you and they won't cross you off until you've paid them and they've recouped the money they paid for you, plus some.