I am John and I am from India. I had been living in the UK for the past 3 yrs and was on job in an Indian company.
During this period I took a personal loan to clear off some of my debts in India.
The tenure for this unsecured loan was 8 yrs and I had paid for 1 year when the tragic happened.
I was asked to go back to India and my job in UK ceased. I could not pay my debt in time as I have a very low income to pay back.
The company has promised me to get a job back in UK, but it has not happened. I have not paid my loan installments.
I am willing but my situation does not allow me to pay 350 pounds a month with an Indian salary of 600 Pounds per month.
My question is what will happen next, will they summon me in court. Will I have to go to Jail.
If I return to UK for a job, will I be arrested at the Airport.
I am living in fear all day since a year and very depressed.
I know your concerns and just ease your mind, you do not go to jail in the UK for unpaid accounts alone, and you will not be arrested at the airport should you return to the UK.
Have you had any contact with the bank you had the loan with? If so, what was the outcome of that contact?
I cannot say what the bank may or may not do, how long has it been since you left the UK?
The bank may try to chase you for payment, but as you are outside the UK/EU, they have no authority.
If they sold the account to a collection agency in India, then things would change as the account could be collected there. The odds of this happening seem very slim to me.
I understand you cannot afford to make the full monthly payments, but if you wish, you could make token payments for a period of time. Then if your situation improves, or you move back to the UK and have higher earnings, you could pay more at that time.