Rebuilding Credit in the UK
Mar 10th 2012, 4:58 pm
#1
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Thread Starter
Joined: Oct 2011
Location: London, England
Posts: 14
Rebuilding Credit in the UK
Unfortunately moving back to the UK means my house will foreclose here in the states. It’s been on and off the market now for 3 years with no sign of improvement to selling it anytime soon. This means my credit will go down the drain. But I have no choice in the matter as I am unemployed and am unable to keep up with the mortgage payments. My ex and I will part ways next month.
So with ruined credit in the US how does this affect my credit rating in the UK. Will I be able to start over again. Will my credit history follow me. Can I wipe the slate clean and start over.
So with ruined credit in the US how does this affect my credit rating in the UK. Will I be able to start over again. Will my credit history follow me. Can I wipe the slate clean and start over.
Mar 15th 2012, 3:06 pm
#2
Forum Regular
Joined: Sep 2010
Posts: 137
Re: Rebuilding Credit in the UK
But you should be able to start building credit worthiness again, just as you would anywhere.
Mar 15th 2012, 8:56 pm
#3
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Joined: Jul 2008
Location: My happy place
Posts: 3,043
Re: Rebuilding Credit in the UK
I would say yes it probably would to begin with, not because I am an expert but because they did a credit check on my DH last week when he had to insure his father's car in his name (after the insurance expired on FIL's recent death) and despite nearly 35 years without making a claim, he was told he had 0 years "No Claims" because of not having had a policy in the UK for the last 17 years!
But you should be able to start building credit worthiness again, just as you would anywhere.
But you should be able to start building credit worthiness again, just as you would anywhere.
I never really understood this obsession with credit rating. I was away for 21 yrs, came back and nobody ever mentioned a lack of credit rating to be a barrier for anything at all. Got my car insurance no problem, credit cards were sent within a week of arriving, renting was no problem. Mrs TB got her c/c without having a job (we never use it anyway).
The only issue I ever had was HSBC putting my Premier status on hold until I got a job here.
Mar 19th 2012, 11:51 am
#4
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Joined: Jan 2008
Location: Near Kingston, Ontario
Posts: 1,323
Re: Rebuilding Credit in the UK
I would say yes it probably would to begin with, not because I am an expert but because they did a credit check on my DH last week when he had to insure his father's car in his name (after the insurance expired on FIL's recent death) and despite nearly 35 years without making a claim, he was told he had 0 years "No Claims" because of not having had a policy in the UK for the last 17 years!
But you should be able to start building credit worthiness again, just as you would anywhere.
But you should be able to start building credit worthiness again, just as you would anywhere.
Mar 19th 2012, 1:30 pm
#5
Forum Regular
Joined: Sep 2010
Posts: 137
Re: Rebuilding Credit in the UK
Thanks, but unfortunately he only had a couple of days to do it in, so just went with it. We'll look into Aviva when we get back for good and hopefully we'll get a refund on the remaining months.
