NL back account in negative

0101engineer

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Hi, i have business bank account in Netherlands (business under my name) and i can overdraft it till 50K eur.
Well im going back to Bulgaria and ill never comeback in Netherlands in my life time, so what can happen if im not going to pay that negative balance? also bank will clearly sees that i did that for purpose and not paying it back.

Netherlands is European union so as Bulgaria.

I might pay back it slowly after some time, but now i just need realistic answers and no trolling.

Thank you all.
 
That's a really bad idea imo. If you don't get away with it you'll be fucked. These credit lines inside bank accounts have terribly high interest. People complain about credit card debt, but it's nothing, debt on bank account will grow to crazy amount in no time from interest alone. They can add your name to registry of people who don't pay off their debts, later you'll have trouble getting low-interest credit card when you'll need it (for media buying, investments, etc). If you can avoid it I wouldn't do it. Even if it's limited company you're still liable (just to limited extent). Idk maybe there's some workaround for this, but damn, this is a bad idea... Your real name is on the documents, etc... Nope man. Maybe someone else has a different opinion.
 
Have you ever heard of a European Arrest Warrant? Don't worry, you will if you go down the road you intend to take. The bank in NL will call the cops who will then issue an arrest warrant. Some morning you will be awoken by your door being kicked in and the Bulgarian police bringing you to a cell. Then 2 Dutch cops will arrive, put you on a commercial plane and fly you back to the NL.

When you stand trial the prosecution will show that you cleaned out your account and took off back to Bulgaria. That's as good as a guilty plea. You are not the first person to think of this, just ask the other prisoners that you will be banged up with for the same offence.

Pay off your balance or get a financial advisor and see if you can refinance the loan at a better rate. Your idea sucks and I don't think you have thought it through. Try this, divide €50k by the number of years that you will spend in jail and see if that is worth it.
 
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