In UK if you have debt you go to Debt Free and go BANKRUPT and chances are you will lose your debt or be paying a trivial amount with the rest written off. Thats if you are SKINT. But don’t bank on it if you concealed money or are perceived capable of paying it back. In Spain I think its not so easy -if you walk away from a mortgage with say Banco Popular and leave your property and disappear from the country then what can they do ? But lets say you are Spanish or Spanish Residente !Well I dont have mortgage but I know some who do. What happens if they cannot pay their mortgage anymore and go in a rented flat in Spain ? Can they go debt free as in UK ? Or do the bank come after them ? If they have a Spanish State Pension can they take money from the pension or does the Spanish Law say that is sacrosanct and cannot be touched ? If they are British can the Spanish bank attach their British State pension paid into a bank in Spain ? Can they get at it in the UK under an EEC directive . Appreciate any information as it might help one or two I know .
The answer to all those questions is yes, yes and yes.
The state or rather the courts and banks can do whatever they like under the law. It is only a question of if they can be bothered or more likely if it’s worthwhile.
If you owe in Spain you have to pay up period. There are no exceptions. British people can be pursued the laws exists. Again it’s a question of if it’s worth it and that’s a commercial decision the banks will take given the circumstances.
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