Was talking to a friend at work today. He told me that he took a 10k loan from Halifax 2 years ago and hasn't paid anything back - he can't afford to.
Since that time he moved house (from another city to this one) - he doesn't know if Halifax are trying to contact him at his previous address - but he has no plans to pay the debt. If needs be he will declare himself bankrupt but doesn't want to unless he has to.
Anyone want to guess what might happen - will Halifax come knocking in a few years demading loads of interest -why are they already not chasing him?
I did suggest contacting Halifax and telling them that he couldn't pay and then maybe going bankrupt if they didn't offer him any options to ease the repayments - but that may alert them to his whereabouts.
He also said he plans to move abroad within 2-3 years - what will happen to the debt in that case- will it be written off?