Returning Intl Student with Debt

d5vnt

Hello there,

Allow me to share my scenario.

Coming to the UK to study at a prestigious university for my undergraduate was definitely a dream come true. Everything was new to me; having to open up my first bank account overseas, settling bills myself, groceries, etc.

Now, I was very much aware that banks do not issue credit-card and overdraft facilities to international students, which is totally understandable with the risk of running off with a debt upon completion.

Yet one day, my bank (I won't disclose! :P) called me up and offered me an account upgrade where I am given credit card and overdraft facility. This came as a surprise to me on why I was handed such features, surely they knew I was an international student?

Funny thing is I wasn't interested at all but as the rep kept insisting I ended up saying 'Yeah ok sure'. I didn't touch those facilities up until I was a few months away from leaving the UK. Here, I realized I had about £1500 worth of credit combined from CC+Overdraft.

You can probably imagine what I was thinking. Needless to say, I blasted about £1500 worth of shopping on those cards, as well as registering for two new contract phones worth £700ish each via direct debit, and left the UK.

Here's where it gets really interesting. I have been offered a place to study for a Masters at another university this upcoming October.

Yes. I know, how silly of me.

How much trouble will I encounter to get a new account from another bank?

I'm guessing all banks will do a check on credit even if I'm applying for an international student bank account with basic banking facilities? (No overdrafts, cc, loans. Purely online banking and debit card)

Thoughts?

[Deleted User]

You will have extreme difficulty opening an account and rightly so in my view. What you did was nothing short of calculated theft.

andyfromotley

I think you can open a basic bank account without checks.

You must ask for the basic account specifically. it has very limited features and makes life a little difficult. Once you do this of course you will probably come to the notice of those you owe money to who will no doubt chase you for it.

Do you have any plans to repay the money you owe?

d5vnt

andyfromotley wrote: »

I think you can open a basic bank account without checks.

You must ask for the basic account specifically. it has very limited features and makes life a little difficult. Once you do this of course you will probably come to the notice of those you owe money to who will no doubt chase you for it.

Do you have any plans to repay the money you owe?

I suppose I could if I can afford repayments. Then again, I'll only be here for 9-12 months tops, so I doubt I could repay entirely within that time-frame. Do you have any suggestion?

Deleted User wrote: »

You will have extreme difficulty opening an account and rightly so in my view. What you did was nothing short of calculated theft.

Indeed I agree that I was extremely immature for doing so.

AspiringButAnxious

I think it's important that you take responsibility for your behaviour and acknowledge your debts. Not so much from a financial or even an ethical point of view, but because it's vital for your personal growth. Admitting you were immature is one thing; taking responsibility and paying back at least some of your debt is another. I also got into debt by acting irresponsibly and could have saved myself a lot of money in repayments by going bankrupt, but I knew that it was important for me to face up to what I had done and learn some valuable lessons.

You may decide to return to the UK for education or work in future — none of us knows what will happen in our lives, so this is a possibility — so this debt could affect those decisions. Coming to an arrangement of any kind with your creditors will keep these opportunities open for you. Remember, you can still make payments when you are out of the country and the legal issues are separate to the ethics of the situation. You might be able to clear the debt sooner than you think, which will remove the burden entirely.

Jeems

I think your behaviour is disgusting and paints a bad picture of all international students. You are a thief, simple as.

The right thing to do is repay your debt but as you are only here for "9-12 months", I don't imagine you will do this.

Imagine if you get a job offer here in future and find yourself unable to open any lines of credit here for the sake of £2k or so.

barbarawright

Perhaps selling your new coffee grinder could go some way to settling your debts?

https://forums.moneysavingexpert.com/discussion/comment/68195630#Comment_68195630