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Emigrating

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Pepsimax | 14:34 Sat 27th Jan 2007 | Personal Finance
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How do people emigrate owing thousands of pounds on lonas, etc. Who pays for this, or are they ordered to return to the UK and pay off their debt?
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Who pays for it depends on how you look at it.

The owners/shareholders of the company that lent the money pay in the form of reduced profits.

But they will have built a level of default into their prices - so honest customers of the same company are paying.

This will filter through into higher interest rates generally - so anyone who borrows pays.

This will filter through into higher prices for everything, so anyone who buys anything pays.

'ordered to return to the UK and pay off their debt' - ROTFL

18:45 Sat 27th Jan 2007

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