Taking out a loan and then emigrating?

pippitypip_2

GEEGEE8 wrote: »

This is what I'm worried about.

I don't think she is getting this loan now, it's all been a con from Yes loans, thank God!

But I'm worried about the fact that she is going to stop paying her loan that she has had for 3 yrs already, there is £4,000 left on it. Also a credit card with £100, and an overdraft of £800. She is with HSBC, and I've looked into it and they are also based in Australia, so how is this going to work?

I'll tell her what I find out, but I can't do much more, just hope she doesn't mess it all up for herself..

If you've shown her this thread and she still wants to proceed not paying her debts, knowing she could get a criminal record, lose her job and be thrown out of the country she's planning to move to, or receive a jail term - she is really stupid and I doubt there's much you can do on that score.

And sorry, I know it's your sister and truly no offence meant here, but she deserves all she gets if she goes ahead knowingly.

As the saying goes, you can take a horse to water.. you've done so much on this score, only she can decide what to do and do it.

The problem comes when (what if) the debt collection agencies contact you or other family members still residing in the UK for her debts (I've seen threads on this very scenario) - it'll put you in an interesting position. Fine to confirm they're not your debts so p off, but would you let them know how to contact her? You may want to highlight this to her, in case that's the final straw to convince her not to do it. To know it could come to that would be pretty selfish to dump all her debts and effectively pass the hassle of dealing with it to family. This happening becomes increasingly more likely if any other family members have ever lived at any of the address on record with the current creditors.

pippitypip

masterlumps

GEEGEE8 wrote: »

This is what I'm worried about.

I don't think she is getting this loan now, it's all been a con from Yes loans, thank God!

But I'm worried about the fact that she is going to stop paying her loan that she has had for 3 yrs already, there is £4,000 left on it. Also a credit card with £100, and an overdraft of £800. She is with HSBC, and I've looked into it and they are also based in Australia, so how is this going to work?

I'll tell her what I find out, but I can't do much more, just hope she doesn't mess it all up for herself..

:rotfl:that is one of the funniest things i have read on this site yet :rotfl:

GEEGEE8

I've spoke to her tonight and she is going to go to the bank and explain that she is going travelling to Oz, NZ etc and can only afford half the monthly payment. £100 instead of £200.. I said I would write a letter for her too to try and come to an arrangement.

I don't think it will make any difference, but I guess if she is paying at least half of the payment then it won't be as bad as disappearing?

She is leaving on Monday and so there isn't much time left to sort this out..

I know it's a bad situation to ask for advice on, and I am grateful for all the help and honesty.. I just hope this can get sorted out.. I think she is excited about going away and is forgetting that things can come back to haunt you.

Credit isn't linked to anybody else, but I know that she will be registered at my dads address and so he might have people knocking on the door one day, which will be an embarrasment for him more than anything.. oh well.. let's hope her and the bank come to an arrangement this week.

jimmyay

your sister to the loan co : "errr...i'm choosing to go travelling for a while in Australia, please can i reduce my payments by 50%

loan co : errrr, how long are you going for, when are you coming back, are you working there etc etc.

ONE misleading or false statement to the loan co by your sis to try and wriggle out of obligations WILL land her in DEEP trouble.

They WILL find her, can do an attachment of earnings order, you CAN'T run away from your debts by moving to Australia, in terms of co-operation between financial organisations, she may as well move to Oxford ; no difference.

Your sister is a total loser if she thinks she's doing anything clever or likely to get one over on the banks in this regard. She just won't, and you'll have to deal with the consequences.

Just to illustrate how developed countries financial firms and systems talk to each other and co-operate with each other, i say again what happened to my friend who has a British passport as well as a Kiwi one ; his UK income is now subject to deductions at source from an Australian Bank from when he lived in Australia - a bank which doesnt have branches here in the UK.

He's so stupid that he thought he could max out his credit and run away to the UK. Now he's flat broke in the UK, thousands of miles from the place he really calls home, in a very depressing place.

Your sister will end up similarly broke.

Tixy

There are certainly people who are on debt management plans for their uk debts that they are paying from abroad where they now live. I can think of at least 3 regular posters on DFW who are in this situation and are paying reduced amounts from abroad.
This would certainly be a much better option than just disappearing.
And once she is established out there and earning a bit more, perhaps she'll be able to increase her repayments.

Its likely they will want to see an income & expenditure account of what her living costs out there are so they can assess if she is offering as much as she can afford to.

It might be worth pointing her in the direction of nationaldebtline or CCCS websites IMPORTANT - Where to seek professional impartial advice about your debts. so she can look at how she should structure her repayments (i.e she should calc what she can afford in total and then offer each creditor a proportion of that amount relative to the outstanding balance).
She could also ask them to freeze interest (they may or may not but it doesn't hurt to ask).

Ghostrider

Erm, excuse me? Is it just me that feels slightly put out by the fact that this complete muppet of a human being is going on what amounts to a holiday of a lifetime and instead of paying her debts off before or even during her holiday she's going to plead to the Banks to let her off the hook so she can afford her holiday?!

!!!!!!!

Nobody is going to afford me that sort of luxury, why on earth should she be allowed to go a payment plan to reduce her debt payments whilst living the life of riley up the east coast of Australia.

Face up to the real world darling, and if you can't at least wait until you've paid your debts before you go swanning off to the beach for a year!

I honestly hope she learns the hard way, I really do.

...rant over.

Gordon_Hose

No offence, but your sister sounds like a complete tube!

Why is she trying to ditch these debts? If she's got a job in Aus/NZ then she should just carry on paying as normal. The only difference in her situation is where she's living, it's not like she's lost her job etc

Fiddlestick

Ghostrider wrote: »

As for weather she'll be found or not, well I can tell you now, if the loan company/bank etc have reason to believe she's left the country then they will very easily be able to check with UK immigration. Immigration checks will confirm she traveled to Australia and hasn't returned, so then a check with the Australian embassies will show she's got a long term visa and possibly even applied for residency

They cannot check this.

There are no exit controls at the UK Border, so there simply isn't a record held that she ever left the country.

euronorris

Gordon_Hose wrote: »

No offence, but your sister sounds like a complete tube!

Why is she trying to ditch these debts? If she's got a job in Aus/NZ then she should just carry on paying as normal. The only difference in her situation is where she's living, it's not like she's lost her job etc

To be fair, even if she receives a salary relatively equal to what she is receiving now, she will lose a lot of money when transferring it to the UK due to exchange rates.

As an example, to get 500GBP to the UK, I usually have to send around €600 and the exchange rate between GBP and EUR is a lot better than GBP to AUS$.

Not saying it's right still, but I can easily understand why she might not be able to keep up with the same level of repayments as before.

Gordon_Hose

euronorris wrote: »

To be fair, even if she receives a salary relatively equal to what she is receiving now, she will lose a lot of money when transferring it to the UK due to exchange rates.

As an example, to get 500GBP to the UK, I usually have to send around €600 and the exchange rate between GBP and EUR is a lot better than GBP to AUS$.

Not saying it's right still, but I can easily understand why she might not be able to keep up with the same level of repayments as before.

You do have a point, yeah. But it seems to me the woman just wants to ditch her loans, and thinks emigrating will leave her in the clear.

I thought nurses were supposed to be mature, responsible and intelligent.