I believe eventually this will catch up to you.

I know someone who did the exact same thing in the US. The loan was from the late 70s, and the loan was around 70K USD. By around the 90s or so she was blacklisted from decent jobs due to here credit report.

She finally paid it off in the early 00s, but the damage was done. So be careful with this. I do not know how things work in Europe, but I would not be surprise if the something like this will start happening in Europe.