I owe the bank a loan of 20 thousand pounds, but I can't afford it. Do I have to go to jail?

The loan contract relationship only bears civil liability in case of breach of contract, and has no criminal liability consequences. However, it is also possible to bear criminal responsibility through legal procedures and process transformation. If you want to answer the phone, you can negotiate the repayment terms with the bank. As long as it is not fraudulent loans and does not constitute a crime of loan fraud, it will not go to jail. Those who bear civil liability and actively respond to the lawsuit shall not bear criminal responsibility.

Extended data:

Application conditions:

Borrower's requirements

1.1natural person aged 8-60 (Hong Kong, Macao, Taiwan, mainland China and foreigners are also allowed)

2 have a stable occupation, stable income and the ability to repay the principal and interest of the loan on schedule.

3. The borrower's actual age plus the loan application period shall not exceed 70 years old.

Information to be provided by the borrower

1. Couple ID card, household registration book/temporary residence permit, and foreigner household registration book.

2. Marriage certificate/divorce certificate or court judgment/single certificate 2 copies.

3 proof of income (format specified by the bank)

4. Copy of the business license of the unit (with official seal)

5. Credit certificate: including education certificate, other real estate, bank running water, large deposit certificate, etc.

6. If the borrower is an enterprise legal person, it must also provide the annual business license, tax registration certificate, organization code certificate, articles of association and financial statements.

References:

Baidu Encyclopedia _ Bank Loan