Enforcing loans when overseas

Kiwiboy_76

I'm not sure if this is in the correct forum, but here goes. I have a student loan from uni (£13,500.00 approx.) and another £4.300 (approx) on a 0% credit card.

My wife and I are moving to Norway in the nex 3 months (for good) and I was considering getting a loan to pay off the c/c, as not having a UK address would mean no more 0% balance transfers every 6 months or so (as I have been doing).

As for the student loan, I would have to contact the SLC to explain until employment was secured in Norway, payments would have to be suspended.

My question is, if I have trouble finding work for a few months and fell behind in c/c payments, could a loan secured in the UK under UK law be enforced in Norway?

I am not trying to avoid paying the debt, but just need to know the facts.

Any info greatly appreciated.

Thanks. :money:

thefoolonthehill

hi

the loan would be unenforceable outside of the UK. Obviously your creditors will chase you for the funds as much as they can. Your UK credit rating would then be shot to pieces.

never say never - you may one day wish to return to the uk.

on the flip side SLC were very accomodating of my wife when we moved abroad and defferred the loan, incidently, the defferred IR on student Loans is now -.05 % so in effect they are paying you to deffer the loan

fermi

Have a read through this link...

UK debt when moving abroad.