Reclaiming from abroad?

kbrennan

Hi,

I'm currently living and working abroad and wanting to apply for financial hardship as I'm working in a third world country for little money in comparison to and English wage. Firstly, is this possible? Secondly, do I NEED to inform my bank because I see it as fuel for rejection/loop hole for them to jump through, but I'm sure they would inquire about my employment situation.

Thanks for any help!

Premier_2

Have a read of the lending code regarding financial hardship
http://www.lendingstandardsboard.org.uk/docs/lendingcode.pdf (page 20)

You'll see it's not about how much you earn, but about struggling to keep outgoings less than incomings, often as a result of an unplanned occureence e.g. illness, loss of job etc.

Presumably living in a 3rd world country costs less than living here in the UK, hence the lower wages.

I'm not sure I'd agree you were in financial hardship if you can afford to swan off to some far off land. ... but others may disagree

Also, if you are in financial hardship, is staying in that far off land really the best option regarding attempting to improve the situation? As the guide says, there is an onus on the customer to help themselfs ... and that doesn't mean helping themselves to the bank's money.

hicskis

You must ask yourself one question - if you end up having to go to court - are you prepared to fly back at your own cost.?

natweststaffmember

kbrennan wrote: »

Hi,

I'm currently living and working abroad and wanting to apply for financial hardship as I'm working in a third world country for little money in comparison to and English wage. Firstly, is this possible? Secondly, do I NEED to inform my bank because I see it as fuel for rejection/loop hole for them to jump through, but I'm sure they would inquire about my employment situation.

Thanks for any help!

On financial hardship NO(unless you have UK arrears).
and on contacting the bank: YES.