What happens with my bike loan after leaving Belgium?

Hi guys,

I have been living in Belgium almost two years now, however I need to leave Belgium and move back home for some personal reasons. I have a bike loan here that expires next year. I was wondering if I need to repay it completely before leaving or I can just continue transfering money to my belgian account until it is fully repaid? Ing is recommending to leave the account open for at least 6 months after leaving, so that's why I am asking...


Welcome to the forum

Best thing to do is to discuss the situation with whoever you borrowed the money from. If you can prove that you have personal reasons to leave Belgium and you have the ability to repay the loan then you may be okay.

Is it a personal loan? What does the paperwork say about the ownership of the bike? Does it say anything about an obligation regarding country of residence? Is it yours, or does it belong to the bank until the last payment? It’s important would you sell the bike upon leaving the country. In principle, leaving Belgium does not alter the loan in itself. You’ll need to formally mention your new residence address, but nothing more unless stipulated in your signed contract. If you keep paying the terms, the financial institution will not object. But better be transparant and ask them before leaving and getting yourself into a mess. That is Just my 5ct.

As long as you're paying your monthly loan, no one will care about your case... and you wouldn't trigger any alarm in their system.

In your case, I would close the bank account while leaving Belgium (most of the banks ask around 30/50€ in order to do it...), and so, your loan as well.

So just make sure with ING that you can close your bank account if you're not in Belgium anymore as they might require your signature and maybe not digital signature

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