I have an unpaid loan in public finance. My last payment was 17 months ago. Then I changed employers and stopped paying. I will pay them but I need to save money first and start a business in my home country because I'm my family's only source of income. So my plan is to go back home on October, start the business and come back here and start repaying my loan. But I'm scared that I will get arrested when I process my contract in immigration or when I'm in the airport. Are loan companies connected to immigration? I really want to go home for a vacation because it's been 3 years since I saw my kids. Please help.
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I'm not a lawyer nor HK legal expert but my understanding is that in common law countries, like HK, it is not a criminal offense to not repay a loan - hence you cannot go to prison for failing to repay a loan.
Other countries like those in the middle east are different and do have debtor's prisons.
Have fun with your kids!
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Thank you for your reply.
But I saw a news yesterday about a helper who took a loan after her contract was terminated and then was arrested and sentenced to 4 months because her boyfriend paid the full amount of her loan hour before the sentencing.
I was trembling till now. I have two young school kids, unemployed hb, and a father with heart problem.
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If you get the loan by signing and agreeing to pay the monthly installment than there is a possibility of some legal restrictions for you.
There is also a possibility that you will get arrested upon arrival. As you said its over 1.5year that you left paying back to the loan institution.
The best way is to hire a lawyer or try to communicate directly with the bank. Tell them their position and agreed to pay small amount on the monthly base. If it agreed than start paying from your home country. Upon any problem you can keep the receipts of the deposit (even 200 HK$) and shows to the authority that you are agreed to pay upto your best. Even it take 100 years to pay back the amount. The bank will be more happy in late paying. So they can increase the amount of interest on it.
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Hi Indiaboy
I'm still in Hong Kong. I want to come forward to pay them but I know they will get my information like my employers new address and number. Thats what keeping me from coming forward. Because I know they will harass me and my employers here. I don't want to lose this employers. They are 360° different from my previous employers.
And also, I already paid them half of the principal amount. And before that, they sent me a letter stating that the amount had doubled from the principal. And I've been reading some related threads here and leaned that that is illegal. So my plan is to talk to an expert, a lawyer perhaps, and then go to the bank.
But my main problem here is, I want to go home for a vacation first and establish a business. I need to secure my family first so whatever happens to me after I talk to the bank, I know that they will have food on their table.
And my worry is that if I get arrested in the airport here before even going home.
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From public finance.
It was 30k hkd. When I received letters from them, they we're demanding me to pay 60k hkd including interests. I was only able to pay 15k hkd.
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Dear Redemption,
As i stated directly contact the bank from which you owned the money. Tell them straight that you don't want to involve the loan sharks inside. (All they need is money even a dollar)
first thing they wont ask you what is your current job or your employer. If they asked simply say big no to them and tell them you wont like to share such information.
Tell them you can pay such amount like whatever you can. They can agreed even 500 a month. They will happy if you can able to pay the money in 200 years. so they can build up the interest as well.
Tell the bank that you are willing to pay only the amount you loan. And after that they can black list you as their customer. They can;t do anything. Trust me.
go do it. Simple formula. no need to worry.
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Dear Redemption,
As i stated directly contact the bank from which you owned the money. Tell them straight that you don't want to involve the loan sharks inside. (All they need is money even a dollar)
first thing they wont ask you what is your current job or your employer. If they asked simply say big no to them and tell them you wont like to share such information.
Tell them you can pay such amount like whatever you can. They can agreed even 500 a month. They will happy if you can able to pay the money in 200 years. so they can build up the interest as well.
Tell the bank that you are willing to pay only the amount you loan. And after that they can black list you as their customer. They can;t do anything. Trust me.
go do it. Simple formula. no need to worry.
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I hear people saying that the immigration can hold me on the airport and I can get arrested. That it's a new law
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It's a bullshit! HK immigration will ask for your Transunion Record when you want to apply visa for your family as dependant.They won't approve your application for dependancy of your family but they won't harrass you nor stop you from getting in and out of the Country because of a loanshark issues!
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Actually depending on what happened to your previous employers and if they made a complaint/report/letter against you, you might not get your visa renewed by Immigration. I know nothing about whether they would be able to stop you at the airport.
Unfortunately you caused your ex-employers HELL by racking up a large debt and leaving them to deal with your mess. (I assumed you either resigned or were fired after the loan sharks started coming after you but I may be wrong), now you live in anxiety about the consequences. You also signed a loan without paying attention to the details....like the interest rate, penalties associated with non payment.
If you wish to rectify the situation, I would suggest you come clean to your current employers. At least give these nice people some warning before you unleash the horror of these loan sharks on people who have enjoyed ZERO benefit of the loans taken out by you. Perhaps they might be able to help you. Otherwise go to one of the many NGOs in HK dedicated to helping domestic helpers and see what they can do for you.
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