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how can i successfully run away from my bank loan

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isitpukka | 15:09 Mon 14th Feb 2011 | Personal Finance
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how do i escape debts
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you can't...get some debt management advice from eg the citizens' advice bureau, grit your teeth and pay them off.
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You would have a lot of trouble the would be able to trace you from the payments you receive.

isitpukka
income support/incapacity benefit
they will chase you down and you wont be able to get credit for anything (house deposit, car loan, buying electricals or furniture over terms) for at least 7 years

instead of escaping, try talking and coming to an agreement.
Your question made me wonder- what happens to large debts when the debtor goes to prison for maybe 5-10 years. Do the lenders write the debt off?

I'm not suggesting you get yourself put in jail, isitpukka.
My ex-BiL emigrated to SA about 25 years ago but before he left he ran up debts all over the place, bank loans, new furniture every thing but a new car and shipped it all to SA leaving his parents and family to sort it out. He's still out there as far as I know and good riddance to him he was out and out bad bastard

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