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Unpaid Personal loan in Hongkong

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  1. #1

    Join Date
    Nov 2019
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    12

    Post Unpaid Personal loan in Hongkong

    I need some advice I have unpaid loan in Hongkong now I am already here in the PHILS I made the loan last 2015 it was 25k hkd now I have received a final demand letter and the amount is already 41+k hkd what will happen to me if I can't pay that? Is it possible that I will be going to jail I have received final demand letter from legal counsel.. What will I do should I go to the office for the legal counsel?


  2. #2

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,331

    You won't go to jail - but do you want to settle your debt?


  3. #3

    Join Date
    Nov 2019
    Posts
    12

    Hi I am working in hk and I made a loan but sad to say I terminated my contract bcoz of my employer she is not good the I was expecting I can find another employer but I never find new employer until I finished my last day waiting for an interview now I'm here in the PHILS. I made my loan last 2014 and now I receive a final demand letter from the legal counsel stating that in 5 days if I can't settle my loan they will file legal action.. Is it possible that I can be bring to jail?


  4. #4

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,331
    Quote Originally Posted by Kellyrosell
    Hi I am working in hk and I made a loan but sad to say I terminated my contract bcoz of my employer she is not good the I was expecting I can find another employer but I never find new employer until I finished my last day waiting for an interview now I'm here in the PHILS. I made my loan last 2014 and now I receive a final demand letter from the legal counsel stating that in 5 days if I can't settle my loan they will file legal action.. Is it possible that I can be bring to jail?
    Generally unpaid debt is not a criminal offense and you won't go to jail.

    However, that doesn't stop them from harrasing you, your family or your previous employer.

  5. #5

    Join Date
    Feb 2005
    Location
    Island East
    Posts
    4,162
    Quote Originally Posted by Kellyrosell
    Is it possible that I can be bring to jail?
    If you are in Philippines then they cant chase you or arrest you there, even if you came back to HK, you will still be allowed to enter and work again. the debt collecting agency will probably find out where you are working in new job and harrass you to repay the loan as they get % of the loans they can get back.

  6. #6

    Join Date
    Nov 2019
    Posts
    12

    It is already very huge the original amount is 25hkd and now it is already more than 41hkd how can I pay it it we are very poor I don't have work only my husband we have 6 childrens to feed and 4 are going school... If I can find job I am willing to pay for it.. But this debt is not only mine I have my frnd who ask me to share this money in my name.


  7. #7

    Join Date
    Nov 2019
    Posts
    149

    I think you have 2 options:
    - if you don't plan to pay anything back, send them a letter from the Philippines (without address), to say you left HK, you cannot repay, and you won't reply further (or words to that effect).

    - if you would prefer to pay something or some part, send them a letter again to say you're abroad, but you are willing to make a settlement. They'll be happy to get anything out of you, even if it's 10%.

    You're in a position of power here, as weird as it may seem, so you can choose how to play it.


  8. #8

    Join Date
    Nov 2019
    Posts
    12

    Sir thank u so much for your advice I really appreciate it. now I have an idea it really helps me a lot what to do now sir do u think they will accept if I ask them that I can only afford to pay them 500 pesos a month which is less than 100hkd a mnth the loan amount is almost 42 hkd.

    Last edited by Kellyrosell; 06-12-2019 at 08:02 PM. Reason: I have a mistake
    CharSiuNow likes this.

  9. #9

    Join Date
    Nov 2019
    Posts
    12

    42 thousand hkd


  10. #10

    Join Date
    Nov 2019
    Posts
    12

    Sir thank u so much for your advice I really appreciate it. now I have an idea it really helps me a lot what to do now sir do u think they will accept if I ask them that I can only afford to pay them 500 pesos a month which is less than 100hkd a mnth the loan amount is almost 42 thousand hkd.


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