Debt questions from around the world, helping each other by giving and receiving advice on UK based debt.

Moderators: TalbotWoods, JaneClack

By el torro
#209965 Hi
I have taken out debt to purchase land in Spain which I was led to believe would gain planning permission with no issues. I later found that the land would never gain planning permission despite receiving emails to the contrary. Two points one as the crook has now become uncontactable can I do anything. Secondly the bank was arranged with his local contact through local bank, should I refuse to pay this loan can they come after my assets in England. Or can I tell them where to go as I feel that this loan was arranged for a piece of land that is now next to worthless.
User avatar
By TalbotWoods
#210001 If the loan was taken out on a Spanish Bank, then Spanish laws will apply; in which case you would need to find a specialist in Spanish Debt Law to answer this.

However, from my understanding they cannot come after you UK Assets, unless they declare you bankrupt in Spain, then the equivalent of the Official Receiver can come after any asset in Europe.

Sorry we couldn't be more help