UK Debt
#1
Just Joined
Thread Starter
Joined: Jan 2009
Location: Newcastle, England
Posts: 2
UK Debt
Hi,
I've just applied for emigration via the Skilled (Sponsored) 176 route and had a few questions to ask about some debt that may leave in the UK (assuming I get accepted) and if anybody has any experience in it, I've had a quick flick through the forum but I cant find anything that really covers what I'm after.
I have a house which I have only recently purchased as a first time buyer so still have the majority of the mortgage still to pay c.90%. I intend on renting my property out, so I have a fall back if things don’t work out in Australia. The rent would pretty much cover the mortgage payments. My questions are:
I have a credit card debt which will be pretty much paid off by the time I leave the UK. I fully intend to pay the debt off after I moved to Australia as I don’t want anything outstanding on my credit history if things don’t work out. My questions are:
I also have a student loan with The Student Loans Company and I will have money left on that. When I signed up to the loan I seam to remember that there was a clause that said that if you worked out of the UK for 5 or more years the debt was forgiven (I don’t remember if I read it or if it was just conjecture between my friends). I've looked on the SLC's website and they are saying that I have to contact them and arrange to pay 9% of my new salary over a certain limit back to them. My questions are:
Hopefully that all makes sense.
Thanks in advance
Stephen
I've just applied for emigration via the Skilled (Sponsored) 176 route and had a few questions to ask about some debt that may leave in the UK (assuming I get accepted) and if anybody has any experience in it, I've had a quick flick through the forum but I cant find anything that really covers what I'm after.
I have a house which I have only recently purchased as a first time buyer so still have the majority of the mortgage still to pay c.90%. I intend on renting my property out, so I have a fall back if things don’t work out in Australia. The rent would pretty much cover the mortgage payments. My questions are:
- do I need to inform my provider that I am leaving the country if I intend on paying the fees. I do not bank with the provider.
I have a credit card debt which will be pretty much paid off by the time I leave the UK. I fully intend to pay the debt off after I moved to Australia as I don’t want anything outstanding on my credit history if things don’t work out. My questions are:
- is there a cheap way of transferring money from Australia to the UK I have done this in the past and it has cost me quite a lot of money considering the amount I was transferring?
- do I have to notify them that I am leaving the country if I intend to pay it off. I do not bank with them so they will not be able to tell that I have no salary in the UK. My only concern is that they will say pay the debt upfront and I'll be left leaving the UK to start my new life in Australia with no money?
I also have a student loan with The Student Loans Company and I will have money left on that. When I signed up to the loan I seam to remember that there was a clause that said that if you worked out of the UK for 5 or more years the debt was forgiven (I don’t remember if I read it or if it was just conjecture between my friends). I've looked on the SLC's website and they are saying that I have to contact them and arrange to pay 9% of my new salary over a certain limit back to them. My questions are:
- does anybody know if there is/was a clause about SLC forgiving debt for overseas workers?
- how do they go about ascertaining my salary in Australia as my current payments come direct from my pay as a tax, do I have to arrange to make payments similar to the credit card debt and then having to transfer even more money?
Hopefully that all makes sense.
Thanks in advance
Stephen
#2
BE Enthusiast
Joined: Feb 2006
Location: UK to Sydney Feb 06
Posts: 738
Re: UK Debt
- do I have to notify them that I am leaving the country if I intend to pay it off. I do not bank with them so they will not be able to tell that I have no salary in the UK. My only concern is that they will say pay the debt upfront and I'll be left leaving the UK to start my new life in Australia with no money?
I also have a student loan with The Student Loans Company and I will have money left on that. When I signed up to the loan I seam to remember that there was a clause that said that if you worked out of the UK for 5 or more years the debt was forgiven (I don’t remember if I read it or if it was just conjecture between my friends). I've looked on the SLC's website and they are saying that I have to contact them and arrange to pay 9% of my new salary over a certain limit back to them. My questions are:
- does anybody know if there is/was a clause about SLC forgiving debt for overseas workers?
HTH a bit
TillyG