Moving Overseas with Debt.

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JL0583
JL0583 Posts: 3 Newbie
in Overseas holidays & travel planning
Hello. I've been on this site for a while, reading advice, but never made a post... so bear with me...

I met a girl overseas a while ago, and we're now planning on closing the gap next year.

I currently have £5,000 in loan debt and £2,100 in credit card debt (probably having to add another £2,500 in loans due to some big changes)

I bank with Lloyds, and do not earn enough to meet the requirements for an international account with them.

Do you know how I can continue to pay for the loan and Credit Card when I go? Are there companies/banks that will let me continue to pay for debt whilst I move away?

Any advice will ge greatly received.

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  • Voyager2002
    Voyager2002 Posts: 15,287 Forumite
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    It would help if you indicated the country to which you intend to move, and whether you plan/expect to work there.

    Personally I have sometimes spent periods of time away from the UK and kept my bank accounts open. There are systems to transfer money between accounts in major countries, so if your destination is somewhere that allows this then you can continue to service your debts from your existing bank account as you do now.
  • JL0583
    JL0583 Posts: 3 Newbie
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    That would've helped! I'm looking to move permanently to the USA
  • richardw
    richardw Posts: 19,458 Forumite
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    Will you need a visa for making a living in the US?
    Posts are not advice and must not be relied upon.
  • JL0583
    JL0583 Posts: 3 Newbie
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    I will need a visa, and that is being sorted... But That's not what I'm asking...

    I'm asking if I'll be able to pay debt if/when I no longer live in the UK...?
  • Voyager2002
    Voyager2002 Posts: 15,287 Forumite
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    This board has quite a lot of information about international money transfers. Companies like Transferwise will accept US dollar payments from a US bank account and convert them into pounds sterling, which they will deposit in your UK bank account. From personal experience, I have done this with Custom House (https://www.xe.com): free electronic payments from US account to them; and then free electronic payment into my UK account. Usually it took about a week. All fees were in the exchange rate, which was good but I am sure can be beaten.
  • NoodleDoodleMan
    NoodleDoodleMan Posts: 3,369 Forumite
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    I will need a visa, and that is being sorted... But That's not what I'm asking...


    Don't you need more tha a visa if you want to work in the USA - a so called Green Card I believe ?
  • richardw
    richardw Posts: 19,458 Forumite
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    NoodleDoodleMan wrote: »
    Don't you need more tha a visa if you want to work in the USA - a so called Green Card I believe ?

    Definately worth looking into the Green Card/ VISA situation and how personal debt can affect getting the required documents.
    Posts are not advice and must not be relied upon.
  • NoodleDoodleMan
    NoodleDoodleMan Posts: 3,369 Forumite
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    edited 17 November 2019 at 5:25PM
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    Somebody correct me if I'm talking rubbish - but when you apply for a visa for the US don't they ask how you plan to support yourself during your stay.

    If you declare working without a Green Card that could be a big problem.

    I would be taking expert advice beforehand.

    There's also a whole range of important issues to be addressed - not least Healthcare.
  • LilElvis
    LilElvis Posts: 5,835 Forumite
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    NoodleDoodleMan wrote: »
    Somebody correct me if I'm talking rubbish - but when you apply for a visa for the US don't they ask how you plan to support yourself during your stay.

    If you declare working without a Green Card that could be a big problem.

    I would be taking expert advice beforehand.

    There's also a whole range of important issues to be addressed - not least Healthcare.

    There are several visa options - L1 for those being transferred by a multi-national, H1 for those who have gained a job with a US employer (I had one), there's one for entrepreneurs who have $xx,000 to invest in creating jobs for Americans - but I expect the OP will be piggybacking off his girlfriend and going for a fiance visa, though from memory that only gives you 6 months til you need to get married.
  • sazaccount
    sazaccount Posts: 537 Forumite
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    I currently live in Canada and have lived in Aus, NZ and India and had UK "debt" well I have/had various travel credit cards and in my younger years used my UK overdraft a little bit too much, I keep my UK bank accounts open can transfer money though them and pay off my Credit card as well as next year will properly have student loan repayments being taken as well.

    I've never defaulted and keep enough funds in the UK to cover anything that is on my CC I'm currently snoozing atm
    Thanks to money saving tips and debt repayments/becoming debt free I have been able to work and travel for the last 4 years visiting 12 countries and working within 3 of them. Currently living and working in Canada :beer: :dance:
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