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Debts with financials that are not able to repay – What happens if I return to South America, my homeland?


I’ve never skipped an installment of my debts, I’ve always been a good payer: now, however, I strongly intend to go to my country of origin because I can no longer live in Italy for personal reasons. The problem is that I have debts with a credit card and a financial loan for about 50 thousand euros and I do not have the money to pay for them.

What if I go back to South America?

I make the premises:
a) I am an Italian citizen, however, in my country my documentation corresponds to when I had double surname that entails in Italy a different tax code.
b) The largest loan I have (€ 40,000) is covered by an insurance that protects the loss of work. If they can not find me, can the insurance cover the debt anyway?

What am I going to meet if I go back to my country in South America and do not come back to Italy? Are they looking for me there? How long does it take to prescribe?
I have nothing in my name, only my own car.

I have been working regularly since 2007, so I would use the severance pay to start a new life abroad.


The debts are in forfeiture if the creditor is not interested: in practice, in his case, if the financial institution that issued the loan or the company that made the credit card (or revolving card) credit card available does not notify periodically, at least every decade, which claims how much has not been repaid.

Now, notification is also sent by registered mail to Italian citizens residing abroad and registered with AIRE. In case of unavailability of the debtor, the notification is perfected correctly for complete stock.

In short, even if the debtor is hiding abroad, playing, to volatilize, with the possibilities offered by dual citizenship and the adoption of the double surname allowed in the land of origin, the right to collect the due from the creditor remains intact .

As well said, how correct he wants, it should also be added that in order to trace a debtor abroad and to get the remaining credit repaid it must really be worth it (I am talking about the single amounts claimed by each creditor and not the total debt) since the expenses to be anticipated (investigations and fees for the law firm operating on site) are certain and the success of the operation is anything but obvious, the outcome of the investigation could lead to the conclusion that the debtor does not have sufficient assets and income only partial repayment.

In addition, it must be considered that the rules for debt collection are not really harmonized outside the European Union.



With mortgage debt cancellation?

with mortgage debt
Yes, finally finished studying. Diploma in your pocket, already working for a while and now looking for your own owner-occupied home. Only, you have a student debt and the question is whether a student debt and mortgage can go through one door. Or you are currently studying and ask yourself whether it is useful to borrow more via the DUO to take out a mortgage later with the study debt, to pay the additional costs. Read all about a study debt and mortgage here.


Does the student debt affect mortgage?

Fortunately, it is a misunderstanding that no mortgage can be taken out with a study debt. In the past there was virtually no examination of the student loan for the mortgage. The mortgage lenders assumed that you would get a job with HBO diploma and the income would increase over the years. The credit crisis has thrown a spanner in dealing with the student debt and mortgage.

The student debt currently has a (limited) influence on the maximum mortgage amount . To calculate the maximum mortgage, the mortgage advisor (and later the bank for the acceptance) will review your income, the house value of your dream home, any donations and loans.

An independent mortgage advisor can calculate for you personally how much impact your student debt has on the maximum mortgage amount.

The effect of study debt on mortgage

The bank looks at the loans you have run. They do this by checking the BKR your registration . However, the DUO study debt is not registered in this. You think fine, the study debt does not affect the mortgage anyway. The mortgage advisor will ask you about all financial obligations. It is wise to mention the study debt yourself. For example, the consultant can take this into account and see whether you can pay the mortgage monthly payments. It would be annoying if you bought a property that you actually can not afford and therefore get into financial trouble.

Do you take out a mortgage with a National Mortgage Guarantee , and did you conceal your student loan for the mortgage application upon closing? Your right to remission of the residual debt will then lapse if you are forced to sell the property with residual debt. Honesty also lasts when applying for a mortgage the longest.

The percentage by which the monthly payment of the loan is calculated is lower for a student debt than for a regular loan.

Mortgage and student loan old loan system

Do you have a student loan from the old loan system, ie before 1 July 2015? Then they assume that you pay back 0.75% of the total debt to DUO each month.
Example: The average student debt is € 15,000. Then the monthly payment that is taken into account is € 112.50 (0.75% of € 15,000). With this you can get around € 21,000 less for the mortgage. Based on your income is determined that you can get € 700, – per month mortgage, then the maximum mortgage amount € 587.50 per month (€ 700 – € 112.50 = € 587.50).

Mortgage and study debt new loan system

In the new loan system, no basic grant is provided to students. This results in higher student debts. In consultation with the Ministry of Education, Culture and Science and the banks, it was decided to charge the student debt less heavily as a burden than before. Do you have a student loan from the loan system from 1 July 2015? This study debt can be repaid in 30 years and is included as a monthly expense for 0.45%.

Example: For the new loan system, the average student debt is expected to be € 20,000. The monthly charge is € 90, – (0.45% of € 20,000). As a result, you can get around € 17,000 less in mortgage than if you did not have a student debt. Based on your income is determined that you can get € 700, – per month mortgage, then the maximum mortgage amount € 610 per month (€ 700 – € 90 = € 610).

Use study debt to get a mortgage?

There are students who think about the future during the study and because of the lower interest rates for a student loan, borrow more money than necessary for the study. They are thinking of using part of the mortgage debt, because less and less extra can be borrowed and the additional costs have to be paid more and more from their own pocket. Bank has calculated that more than 30% of the students borrow more than they need and save 10% to be able to buy a home after their studies. This mortgage loan debt is smart because of low interest rates, but is that?

Saving money yourself with the help of a part-time job in the future, the extra costs of buying a home is smart. Extra borrowing is less convenient, because as you have read before, this affects the amount of the maximum mortgage. The more (study) debt there is, the less there can be borrowed. Therefore, try to pay the study and the costs as much as possible with a job. Who knows, you can continue to work there after the study.

Completely repay mortgage loan debt

Your parents, or perhaps your grandfather or grandmother, may decide to lend you a hand by donating an amount to you so that you can, for example, pay off your student debt. Did you pay off a part of the student debt? Then the bank still assumes the original amount of the debt. Imagine you have a student loan of € 15,000 and you have already paid off € 10,000. The bank will still start from € 15,000 instead of the remaining € 5,000. Unless you have repaid extra in the interim. Then the bank can proceed to a re-calculation of the loan charges.

Do your parents help to pay off the last € 5,000? The maximum mortgage is now no longer hindered by the student debt.

Being a starter can sometimes be difficult to obtain a mortgage, also due to often a low income at the beginning of your career. Fortunately, you can be helped in various ways, to get a mortgage despite the student debt. Look for that at starters mortgage .



Customers of de Volksbank will no longer be forwarded to debt collection agency

De Volksbank has decided to recover thousands of customers who have forwarded it to collection agencies. It involves a total of 10,000 customers. The parent companies of ASN and SNS Bank indicated earlier that they no longer send customers to collection agencies. De Volksbank first retrieved 5000 customers who had sent it to Vesting Finance, a debt collection agency that specializes in preventing and reducing payment arrears. Then it is the turn of the other customers.

Why are customers being recalled?

But why does de Volksbank actually reclaim its customers who have previously sent it to collection agencies? As with other banks, previously customers with a payment arrears on loans that are unsecured were forwarded to a collection agency.

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An unsecured loan, for example, is a personal loan or a repayment-free mortgage that can not be repaid because a residual debt has arisen after the sale of a house. However, all customers with a payment problem are now kept on board. The main reason for this is the prevention of extra debts with customers. Because the collection costs bring customers even more into trouble, so that a loan can no longer be paid off.


Of course, this decision costs the bank money. For example, a lot of contracts have to be undone. That says Bastiaan de Ruiter, director Special Management. De Volksbank has the Dutch State as shareholder. With this measure they take into account the interests of the Dutch State but also those of the customers, employees and society.

Customer interest comes first

In the end, De Volksbank hopes that thanks to this method, the bank will also benefit financially. But if that is not the case and the bank continues to incur extra costs, they are still planning to maintain the new working method. Because customer interest is paramount. De Ruiter says that dissolving all existing contracts at the collection agencies costs a lot of money. But, he says: “it is not about tens of millions of euros”.

People with problematic disadvantages get a contact person

From now on, people with serious payment arrears ( read: Lower payment problems for the Dutch ) will be assigned their own contact at De Volksbank. This has the advantage that they do not have to tell their story to a new person every time. Incidentally, contacts also have a lot more responsibilities.


Platform Debt Assistance regularly provides new insights


Together with Stimulansz, Bank is the initiator of Platform Schuldhulpverlening, an expert group for municipalities in the field of debt assistance, early signaling and debt prevention. Delft is one of the municipalities affiliated to the expert group. Mieke Robben, consultant work and income in Delft, is enthusiastic: ‘In the Expert Group we broaden our knowledge and we generate ideas about how we can strengthen our own debt assistance.’

Mieke Robben, city of Delft The Debt Counseling Platform arose from the desire to discuss ideas and current affairs with municipalities and involved organizations and to list the consequences for the practice. The organization is in the hands of Bank and Stimulansz. The Platform is a creative think tank with attention for policy and organizational aspects of debt counseling and early signaling, but also for practical instruments and solutions for implementation. We asked Mieke Robben about her experiences.

What was the reason for the municipality of Delft to seek affiliation with the Platform?

Mieke: ‘When I started working at the municipality of Delft 2 years ago, the registration for the platform already existed. Because I started working on debt counseling, among other things, I went to the meetings from February 2017, mainly to gain knowledge and to share.’

How does the expert group fulfill the municipality’s needs in this area?

‘In the platform new developments are discussed, but also initiatives of others are highlighted and all sorts of other issues that affect debt assistance. In this way, our knowledge is broadened and we generate ideas about how we can strengthen our own debt counseling. ‘

What is the result for the municipality of Delft (until now)?

‘What it yields to me is mainly a lot of substantive information about the how and what within the debt assistance, the’ hot items’ and the subjects on which we can develop even more in Delft. I get a broader picture through the combination of these different subjects. I also use that in, for example, our new policy document on debt counseling. ‘

What does the municipality of Delft most need, the policy issues that are discussed or the more practical solutions?

“Both topics yield something. Policy adjustments often result in changes to the process or implementation. By discussing the policy matters, the practical consequences usually also arise. In addition, you get a lot of information from colleagues in the country. Sometimes someone else is already working on it and has tips and tricks. Especially that exchange has a lot of value for me. ‘

Which subjects would Delft like to see on the agenda in the coming period?

‘Debt assistance to independent entrepreneurs and the influence of life events on financial problems are subjects that we are working on in Delft. Extra information or experiences from other municipalities are therefore very welcome. ‘

How does the collaboration with Stimulansz and Bank work?

‘I think the collaboration went well. It is very nice to get information from Stimulansz and the Bank at the same time. The link between these two parties becomes a kind of matter of course. ‘

How important is it for municipalities to learn from each other on this topic?

‘It is very important for municipalities to exchange information with each other. At the moment there is so much happening in the country in the field of debt assistance and early warning, in every municipality there is an initiative. What could be better than sharing projects with each other? You do not have to reinvent the wheel, but you can use successful methods in your own municipality. ‘

Why would you recommend other municipalities to join the platform?

‘The platform is the means to make contact with your colleagues from the country. Using each other’s knowledge and experience is so important and meaningful. And even if nobody has the solution, we try to find a solution together during such a meeting. The platform helps you stay up to date in the developments and regularly provides new insights. ‘


Personal responsibility of the member of the company in a collective name for previous debts, prior to its entry even if not resulting from the accounting entries.

Personal responsibility of the member of the company in a collective name for previous debts, prior to its entry even if not resulting from the accounting entries.

You have been proposed to become part of a Bank, that is a company in the collective name. One of the previous members has decided to leave his place and you should replace it. You have carefully evaluated the offer: even if the activity carried out by the company corresponds to your professional skills, your doubts are focused on the possible liability for assets that could derive for you. You already know that the Bank is a society of people and, therefore, the social debts are transmitted to the members. This means that if the coffers of the company do not have enough money to satisfy the creditors, they can be reimbursed on the partners, submitting their personal assets (eg home, checking account, pensions) foreclosure. You then ask what happens to the debts contracted by the company before your entry and of which you may not be aware: if this should only be answered by previous members or even you. So consult your lawyer and ask him the following question: if I become a member of a Bank answer of the previous debts? Your lawyer, if you read the sentence that the Cassation published a few hours ago [1] will respond to you in the following way.

Bank equity responsibility for both the past and the future

The shareholder of a Bank is responsible with its assets for the obligations contracted by the company if it does not respect its commitments. The debts of the company are also debts of the partners who risk therefore forfeiting their personal assets.

A person who takes over an Bank , noting the shares of a previous member, he also repays the debts before his entry, although not indicated in the accounts. This is the opinion provided by the Supreme Court.

The Court reiterates the principle that in the matter of partnerships , the person who enters to form part of a company in the collective name already established previously, replies with the other shareholders for the social obligations prior to the purchase of the status of member . Moreover, this responsibility is not conditioned by the fact that these obligations result from the company’s accounting records.  

In short, the new member of the Bank is not different from all the other shareholders and, therefore, may be subject to attachment not only for the debts incurred by the company in the period after its entry but also for the previous ones. It does not take into account the fact that he has not been able to get to know it from the accounting records and financial statements if not indicated: already upstream he must know that this risk exists.

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