camz2018

Hi All,

Moving out to the USA in Feb 2017 with 20k debt in the UK.

The plan is to continue paying it from a UK bank account from the US, but I do have some questions.

If I stop paying the UK debt (e.g. Dollar to GBP is just not manageable), can the debt be collected in the US?

Would it affect my application to get a US Visa / Greencard having outstanding UK debt?

What powers do the UK companies have? Can they make me bankrupt?

scrubbedexpat099

Theoretically yes

Assuming this is not an investment visa no.

Yes

Does have a Dr Who feel to the question.

camz2018

Ok so it would be a work visa H1B but in future look at switching to a green card.

It’s more that when I work out my finances I am struggling to pay the debts, but it isn’t like I can pay them easily in the UK either. I likely will be slightly better off in the US.

So to confirm they can collect the debt in the US and they can make me bankrupt?

uk_grenada

Bad news:

Remember that if you default, the debt will be sold on to collection agencies, and some charges added on top, who have long arms and are quite obnoxious. How obnoxious depends on whether they are operating from the uk or somewhere less regulated, but debts not collected can be sold on a number of times. They may be onto any relatives you have left behind, when they know you are in the us they will sell it to a us agency, your credit record will be impacted, and yes you could be bankrupt in the uk or us. Does it matter? Well it will affect any credit or banking related applications, it can affect whether you are let into some countries on some visa types, and this info is kept globally and gets linked to your passport no, ive seen the tech that does it at border security, it works.

Good news:

None of this might happen if they cant find you, and nobody tells them where you are, but you may be looking over your shoulder and be left wondering why you were turned down for that loan/apt/card, because they arent going to tell you explicitly why i suspect unless us laws make that required?

Nutmegger

How are you moving in February with an H1B — is it an academic position?

Pulaski

Good.

Maybe, maybe not - it depends how much effort they are willing to put into it, or who they might sell the debt to.

No, debts are not a consideration. I am not even sure that they are for an investor visa.

The company can't but they could petition a court in the US to recover the debt (see above), and as a result you could be made bankrupt by the court. It really depends on the effort and expense they are willing to go to. Now if they sell the debt to a company that specializes in recovering debts in the US then that is a whole other matter!

uk_grenada

Bankruptcy or bad debt will likely also rule out any role in finance and a lot in govt, apart from the obvious, the sox regulations impact it.

scrubbedexpat099

US Companies like doing credit checks.

camz2018

Apologies L-1 blanket visa. Thought it was shortened to l-1b but iphone auto corrected to a H!

camz2018

So the short story here is the UK debt if unpaid could easily bankrupt me which would impact my job in the US? For reference I work in financial services.

It could get sold to the US and impact my local US credit history also?

To date I have never missed a payment and have an Experian credit score of 999.

My initial plan is to pay everything from the US, but advice from a debt collection agency was that it cannot be enforced in America and advised me not to pay. Seemed like bad advice.

petitefrancaise

sounds like you are a perfect candidate for the financial industry .

uk_grenada

Its all here

Heading abroad to escape your debts? Think again - Telegraph

https://www.buddyloans.com/blog/debt...t-from-abroad/

Nutmegger

I don’t know if it would come to light, but if you have any thoughts about making a life here and eventually applying for citizenship, this might be a blot on the “good moral standing” requirement if you didn’t complete your obligation to settle your debt.

Pulaski

Yes
I suggest you carry on with that strategy until the debt is repaid.
If you're in "financial services" that seems like extraordinarily bad advice! If your employer finds out that you defaulted on a (substantial) debt you could find yourself in an untenable position with respect to your employment (you could be fired!)

Jerseygirl

Do you have parents in the UK? We have had members whose elderly relatives back in the UK have been harassed by debt collectors because their offspring have unpaid debt.