Mad Scientist wrote:I do not think so.
You acted as a guarantor in good faith and your buddy scoot back to Africa. That is some friend you've got.
First and foremost there are two part on your issues
1. Debt
You acted as guarantor hence you are liable to the bank. Yes, it will incur penalties and even that collected by the debt collector.
If you are overseas they may engage overseas debt collector but it is highly unlike for this amount
However your name will be blacklisted into the credit rating agency. If you do get a job here you may not be able to apply for CC nor open a bank account.
2. Your EP apply application has ho relation to your Debt. ICA will not report this. You are considered as third party liabilities. The police and the bank will have your name as blacklist. It is up to their own discretion on the severity but by the going rate that is about it
Oh come on SMS.... the only concern he would have is if his friend was a bankrupt and/or OP was as well. His friend will find life very miserable (and he will too) - the banks will not let up trying to find them and the debt will be sold on to debt collectors eventually who will not let up. My ex tenant eventually settled all his debts after a few years because of the relentless pressure.sundaymorningstaple wrote:Hopefully you wrote this post after passing through immigration at Changi and are now out of the country.
sundaymorningstaple wrote:I've had HBP for quite a few years. You are having some problems with it now. We don't know about the OP, but I guarantee their tactics here will certainly NOT help one's BP!
While my post was certainly
Depending on the size of the loan, it could be iffy.
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