USA Credit Card Debt transfer to UK

Socajam

Does he have a US bank account?
If he does, he can wire money from his UK bank to his US bank account and pay his credit card that way.

JayMawds82

fwor wrote: »

Debts that don't get paid by the borrower almost always end up getting paid by somebody. Remember that.

It's the main reason why 49% of applicants for a loan don't get the "headline rate".

Whilst you should pay your debts. If you have to exit the country without paying them for some reason they don't sweat it.

As for headline rates, that's more down to the individual borrower's circumstances not little Johnny who bailed.

fwor

JayMawds82 wrote: »

Whilst you should pay your debts. If you have to exit the country without paying them for some reason they don't sweat it.

As for headline rates, that's more down to the individual borrower's circumstances not little Johnny who bailed.

You've missed the point. The lender may not "sweat it", but that doesn't change the fact that (assuming they don't want to go bust) they have to recover the unpaid money from somewhere.

And the way they do that is to load up the interest rate for people who are assessed as less likely to repay.

So next time a borrower who is in similar circumstances to little Johnny applies for a loan, instead of the 3.9% headline rate, he gets offered 23.9%, and some of that is down to recovery of costs when people don't pay. He might have got an offer of (say) 15.9% if it weren't for little Johnny and his ilk skipping the country without paying.

pearsonville

Socajam wrote: »

Does he have a US bank account?
If he does, he can wire money from his UK bank to his US bank account and pay his credit card that way.

Yes, but to pay it off over time would necessitate multiple bank transfer charges, unless it's all paid off at once, where we're back to the Money Transfer CC..

Ebe_Scrooge

Thanks for the Spam, Kindrem, I'll be sure to check out your gambling website.