Ever Changed Location To Avoid Debt Collectors?

Discussion in 'Debt Collection' started by remnant, Jun 18, 2016.

  1. remnant

    remnant Member

    When a person is applying for a loan, everything looks fine and there is an air of optimism. Therefore, of finds little hindrance to supply details of your location and assets to prove your eligibility. The problem arises when one isn't able to repay the loan and debt collectors are breathing down your collar. Have you ever changed or considered changing your premises to avoid them? The closest I came to that was when debt collectors phoned me and asked to enquire about the repayment and I told them I was in a distant location to throw them off the scent.
     
  2. Alexandoy

    Alexandoy Active Member

    I know a person who does that. He would borrow money not only from the banks but also from people particularly his neighbors. And after sometime, he would be gone with the wind. Vanishing just like that is an obvious reason for running away from debts. He is not caught simply because he uses different names and sometimes he even disguises himself. And speaking of disguise, he would introduce himself as the son of a rich landlord in the province. Until now that guy is on the loose. Fortunately, I had evaded his innuendo of borrowing money.
     
  3. tpicks

    tpicks Member

    Intentionally changing location to evade debts is criminal I think. This is something that happens in less developed towns or cities where modern development is yet to touch. That said I haven't even think about that let alone having to change location because I owe a friend or a business partner some money. By the way where will I run to with my family leaving my parmanent residence. This is unthinkable, I will make all efforts to clear the debt. Infact before I go to borrow I should foresee how to repay.
     
  4. Binu

    Binu Member

    I don't change my location. IN the place I live I have property worth more than the loan I have on bank and elsewhere. If I change location, I will lose more money than my debt. However, I have seen people change location because of debt. This is usually with people who do not have a permanent address and who are in rented house or flat.
     
  5. Decentlady

    Decentlady Member

    I haven't honestly changed my location ever just to waive a debt collector. I understand sometimes one may need to though. It's another thing that you could be called names if you are not tracable and have a debt burden. I personally wouldn't like that route.
     
  6. ReadmeByAmy

    ReadmeByAmy Member

    I think it is not a good idea if you will change your location every now and then just to get rid or to avoid your debt collectors. Even you always change your place of location your debts will always be there and they will surely find ways to locate you. This will greatly affect your credit score and you will never know in the future that you will be needing to make a loan again.
     
  7. Zeta

    Zeta Member

    I think it will be more difficult in my situation if I had to change location just to avoid debt collectors. A debt is something that's staring me in the face no matter where I go so I had to confront it head on, pay, and be done with it. I don't want to burden my heir, my only son, with unpaid debts so I'm paying them while I can.
     
  8. tpicks

    tpicks Member

    I think that is the weakest action to take having to change a location in order to evade debt. In this era of easy information gathering such a debtor would easily be smoked out if appropriate steps are taken to get the debtor.
     
  9. moondebi

    moondebi Member

    If a loan is taken from an authentic and reputed institution, then you have to provide your PAN card, unique ID and many such information which are enough to track someone down even if address is changed. However, if the debt is taken from unauthentic source, changing the address might help to elude.