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6 months without paying bank loan - Passport issues?

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  1. #21

    i currently don't have a job. i lost my job few months back. thats why i am unable to pay back loan. i explained to them but that i can pay 2k ot 1k each month. still they asking me to pay more.


  2. #22

    they telling me even if i pay 1k its no use as interest will keep adding up. because my monthly installment was 5400. but at this moment i can only afford to pay 1k each month. this is all due to i lost my job.


  3. #23

    Join Date
    Feb 2005
    Location
    Manchester, UK
    Posts
    7,779
    Quote Originally Posted by kinder1984:
    how can you help me or guide me.

    this collection agency keeps messaging me they will file bankruptcy and inform the immigration.
    i am permanent resident of hk. so i dont understand why the collection agency saying to me that they will inform to immigration dept.
    How much is the total loan you need to pay back, $5400 X ??? Months?

    Their threat of filing bankruptcy on your behalf is possible BUT my guess is rarely used as they would need to spend more money and NOT get a cent back from you lol so you can ignore that threat also.

    My unofficial advice to you is:

    1. Change your mobile phone number
    2. Ignore any letters from them
    3. Since you are permanent resident of HK, their threat of informing Immigration is USELESS and you can laugh at them if you want LOL
    4. The monkeys you are talking with will not understand that you have no job and can only afford to pay 1-2K, their computer screen says you owe them $5.4K a month and that is all they will want from you monthly so dont waste your time talking with them.
    5. Pay back when you can, when you have a job.

  4. #24

    my total payment left to pay to them is 130,000hkd
    so my montly installment was 5400. they don have my address only have my mobile number.


  5. #25

    Join Date
    Dec 2009
    Posts
    6,704
    Quote Originally Posted by kinder1984:
    they don have my address only have my mobile number.
    Change your phone number.
    Mrs. Jones and chuckster007 like this.

  6. #26

    I always wondered what there is to prevent anyone from opening a false debt against someone for services not actually rendered. I see someone's actually doing it. Credit and debt is an open system with a bunch of band-aid solutions pasted over the top. It needs sorting out.


  7. #27

    thanks for replies

    The guy messaging me and saying he will file bamkruptcy under section 6A(2) and refer to immigration.

    i do not understand what is bankruptcy section 6A(2).
    if anyone can help me understand it.
    Thanks.


  8. #28

    Join Date
    Dec 2009
    Posts
    6,704
    Quote Originally Posted by kinder1984:
    The guy messaging me
    Change phone number, no more messages.
    chuckster007 likes this.

  9. #29

  10. #30

    Join Date
    Jun 2016
    Posts
    1,972

    I'm not familiar with the ins and outs of debt collection but as general advice based on what I've read in the past (as applicable to the US but not necessarily HK), I would tell the guy to make sure he is in compliance with the law when he calls you. That you are taping the call and by staying on the call he is consenting to it being recorded. He may be doing things not allowed by law such as calling too many times, during certain hours, harrassing and/or lying about what he can do. I beleive telling someone they can be imprisoned is against the law as they dont have the power. They do have power to file fraud charges against you if its the case but they are not a court so can't sentence you.

    My advice, find a way to repay, clean up your record. Don't spend beyond your means and build up a fuck you fund which is lots of cash and investments to cover job losses or enterpenurial business downturns.

    Last edited by RMDNC; 21-09-2020 at 01:14 AM.