Taking out a loan for working holiday

thebritishbloke

newyorkstateofmind wrote: »

What? There is absolutely no "fishy business" going on here whatsoever. I am a respectable person, finishing my studies and working part-time with a small but regular income, slowly paying off two small overdraft amounts: one in a student account and another a personal account. I don't know why I should have to justify myself in this manner.

I'm just going off of what I've read from your posts, you may well be a respectable person trying to do the right thing. You discussed possibly lying on an application for credit, and not telling them that you're leaving the country. When that first thought is what comes to mind for you, then it seems fishy.

newyorkstateofmind wrote: »

My current financial status is as follows:
1). a £750 student overdraft with my primary bank
2). a student credit card with limit of £500 currently paid off to the £350
3). a £1000 student overdraft in another bank, which currently has been used to the £800 mark.

If you have one in a student account and one in a personal account, why did you say you have two student ones in your first post?

newyorkstateofmind

As your posts have nothing to do with my request, I'd appreciate it if you'd stop posting to me.

PeacefulWaters

thebritishbloke wrote: »

I'm more curious about how you've legally obtained two 0% student overdrafts. You're only allowed to have one, you can't have another one opened at another bank.

A lot of fishy business going on here...

Which piece of legislation prohibits it?

view

boo_star wrote: »

While all this is correct, I would suspect that a lender (or DCA) would find it quite difficult to find a debtor who just moved to another country. I doubt most of them would look outside the UK unless they had information that suggested they had.

That's likely to be part of the reason why a lender would be apprehensive about lending in these circumstances.

I love the level of ignorance about this topic. I'm hoping you've said that tongue in cheek as it could not be further from the truth.

UK has legal reciprocal agreements with many countries within Europe, Australia, NZ etc.. etc.. people can and do get chased every day for debt. If you apply for a card or loan or even a phone contract bingo your new address contact details are live and you're found.

This is a legal agreement between countries, not just a 'oh, let's see if we can find this person'. Debt enforcement companies link offices in different countries, it's much easier than you think to be found.

Suggest folk do a bit more reading up on this as it seems to be a very misunderstood topic.

Start here

http://www.legislation.gov.uk/uksi/1994/1901/note/made

http://www.consumeractiongroup.co.uk/forum/showthread.php?250889

It happens every day to folk, oh yes it does.

newyorkstateofmind

Thanks everyone but as this thread has gone very off-topic, I've deleted my query and won't be back to moneysupermarket.

thebritishbloke

newyorkstateofmind wrote: »

Thanks everyone but as this thread has gone very off-topic, I've deleted my query and won't be back to moneysupermarket.

Good thing you'll still be on MoneySavingExpert!

redcard

newyorkstateofmind wrote: »

Thanks everyone but as this thread has gone very off-topic, I've deleted my query and won't be back to moneysupermarket.

Guilty!


need 10 characters