Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

British wife moving to US, has an unsecured loan

British wife moving to US, has an unsecured loan

Old Oct 13th 2009, 11:03 pm
  #1  
Just Joined
Thread Starter
 
Joined: Mar 2009
Location: Orange County, CA
Posts: 26
jonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nice
Default British wife moving to US, has an unsecured loan

My wife just got her immigrant visa. She'll be coming over in 4 weeks. She has an unsecured loan from HSBC in the amount of roughly £6,000. What should she do? What would happen if she didn't continue to pay it?
jonnyjett is offline  
Old Oct 13th 2009, 11:19 pm
  #2  
Forum Regular
 
Lazzza's Avatar
 
Joined: Apr 2009
Location: Katy, Texas
Posts: 268
Lazzza is a name known to allLazzza is a name known to allLazzza is a name known to allLazzza is a name known to allLazzza is a name known to allLazzza is a name known to allLazzza is a name known to allLazzza is a name known to allLazzza is a name known to allLazzza is a name known to allLazzza is a name known to all
Default Re: British wife moving to US, has an unsecured loan

Does she have any assets in the UK? The bank may well pursue her for the debt in Court. Presumably she would not defend this action (in fact she would have no defence anyway - as the debt is in fact due). The bank would then obtain a Court decree against her. The decree may not be of much use to the bank if your wife has no assets in the UK and is resident abroad. However, if she were to return to the UK, this decree could cause her a problem. Certainly her credit rating would be shot to pieces for a start. The bank may even try to recover the debt through the various reciprocal agreements in place between the UK and the US re implementation of Court Decrees. In my view, be very careful. Simply jumping ship to the US may not mean that this would not affect your wife.
Lazzza is offline  
Old Oct 13th 2009, 11:32 pm
  #3  
BE Forum Addict
 
The Horticulturalist's Avatar
 
Joined: Aug 2007
Location: Mississippi
Posts: 1,536
The Horticulturalist has a reputation beyond reputeThe Horticulturalist has a reputation beyond reputeThe Horticulturalist has a reputation beyond reputeThe Horticulturalist has a reputation beyond reputeThe Horticulturalist has a reputation beyond reputeThe Horticulturalist has a reputation beyond reputeThe Horticulturalist has a reputation beyond reputeThe Horticulturalist has a reputation beyond reputeThe Horticulturalist has a reputation beyond reputeThe Horticulturalist has a reputation beyond reputeThe Horticulturalist has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by jonnyjett View Post
My wife just got her immigrant visa. She'll be coming over in 4 weeks. She has an unsecured loan from HSBC in the amount of roughly £6,000. What should she do? What would happen if she didn't continue to pay it?
She should pay it! Why would she not do that? she took out the money and so is responsible to pay it off.

If she bought a car with it, then presumably she can sell that to help cover the costs. Otherwise I suggest that she contacts the bank and arranges to continue payment from the USA.
The Horticulturalist is offline  
Old Oct 13th 2009, 11:33 pm
  #4  
Just Joined
Thread Starter
 
Joined: Mar 2009
Location: Orange County, CA
Posts: 26
jonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nice
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by Lazzza View Post
Does she have any assets in the UK? The bank may well pursue her for the debt in Court. Presumably she would not defend this action (in fact she would have no defence anyway - as the debt is in fact due). The bank would then obtain a Court decree against her. The decree may not be of much use to the bank if your wife has no assets in the UK and is resident abroad. However, if she were to return to the UK, this decree could cause her a problem. Certainly her credit rating would be shot to pieces for a start. The bank may even try to recover the debt through the various reciprocal agreements in place between the UK and the US re implementation of Court Decrees. In my view, be very careful. Simply jumping ship to the US may not mean that this would not affect your wife.
No, she has no assets in the UK. And I'm not sure if her pension is portable and if that could be affected too.

Has anyone been through this before?
jonnyjett is offline  
Old Oct 13th 2009, 11:33 pm
  #5  
I love my brick!
 
zargof's Avatar
 
Joined: May 2007
Location: Peachy
Posts: 8,880
zargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by jonnyjett View Post
What should she do?
I assume that your wife is currently making monthly payments on the loan. Keep making the payments would seem like a good idea to me. I would recommend setting up an account with xe.com. You can then transfer the money from your US account into your wife's HSBC account each month as necessary. Bear in mind it will take a few days for the money to be transferred, so make sure you send the payment at least a week before it is due (I would recommend two weeks).
zargof is offline  
Old Oct 13th 2009, 11:54 pm
  #6  
Septicity
 
fatbrit's Avatar
 
Joined: May 2004
Posts: 23,762
fatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by jonnyjett View Post
What should she do?
Pay it if she can afford it.

Originally Posted by jonnyjett View Post
What would happen if she didn't continue to pay it?
Not a lot I wouldn't think. They may try to pursue it; they may not. They may get to blot her future US credit record; they may not. They may get to pursue it in a US civil court; they may not. After seven years of inaction on the account it dies in the US. Debtors jail went out with Dickens. It's purely a civil matter.
fatbrit is offline  
Old Oct 14th 2009, 12:05 am
  #7  
Just Joined
Thread Starter
 
Joined: Mar 2009
Location: Orange County, CA
Posts: 26
jonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nicejonnyjett is just really nice
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by fatbrit View Post
Pay it if she can afford it.


Not a lot I wouldn't think. They may try to pursue it; they may not. They may get to blot her future US credit record; they may not. They may get to pursue it in a US civil court; they may not. After seven years of inaction on the account it dies in the US. Debtors jail went out with Dickens. It's purely a civil matter.
The bank hasn't yet been informed that she's leaving the UK. How would the bank track back to the states? Furthermore, the loan is in her maiden name and she's going with my sir name when here.

The loan is unsecured, so it is uncollateralized, and there is no car, house, etc, attached to it.

I do understand the moral and ethical implications. But I'm more interested in the legal ramifications.
jonnyjett is offline  
Old Oct 14th 2009, 12:07 am
  #8  
Lost in BE Cyberspace
 
Joined: Jan 2008
Posts: 41,518
Sally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by jonnyjett View Post
The bank hasn't yet been informed that she's leaving the UK. How would the bank track back to the states? Furthermore, the loan is in her maiden name and she's going with my sir name when here.

The loan is unsecured, so it is uncollateralized, and there is no car, house, etc, attached to it.

I do understand the moral and ethical implications. But I'm more interested in the legal ramifications.
I think she'll be all right as I appear to be the only mug who hasn't done this
Sally Redux is offline  
Old Oct 14th 2009, 12:10 am
  #9  
The Duchess of Putney
 
Joined: Jan 2005
Location: HOME
Posts: 23,151
Elvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond reputeElvira has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by Sally Redux View Post
I think she'll be all right as I appear to be the only mug who hasn't done this
But you'll be able to return with a clear conscience and no worries.......... right?
Elvira is offline  
Old Oct 14th 2009, 12:11 am
  #10  
I love my brick!
 
zargof's Avatar
 
Joined: May 2007
Location: Peachy
Posts: 8,880
zargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond reputezargof has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by Sally Redux View Post
I think she'll be all right as I appear to be the only mug who hasn't done this
No, you're not the only one who believes in paying back money that you borrow.
zargof is offline  
Old Oct 14th 2009, 12:20 am
  #11  
And YOU'RE paying for it!
 
Joined: May 2007
Location: kipper tie?
Posts: 2,328
lapin_windstar has a reputation beyond reputelapin_windstar has a reputation beyond reputelapin_windstar has a reputation beyond reputelapin_windstar has a reputation beyond reputelapin_windstar has a reputation beyond reputelapin_windstar has a reputation beyond reputelapin_windstar has a reputation beyond reputelapin_windstar has a reputation beyond reputelapin_windstar has a reputation beyond reputelapin_windstar has a reputation beyond reputelapin_windstar has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by jonnyjett View Post
I do understand the moral and ethical implications. But I'm more interested in the legal ramifications.
There is a long thread in "The Barbie" section of the Australia board on this topic (called "Return to UK will I be arressted" , http://britishexpats.com/forum/showthread.php?t=633764 ).

There is overwhelming confidence among lots of the posters that you can't be touched once you're outside the country, you can't be touched if it's consumer debt, you can't be touched if you don't have an address in the UK...but unfortunately a lot of that confidence is based on "my auntie Shirley's hairdresser used to work as a debt collector" information. A lot of the sources linked to that supposedly support those claims don't say anything of the sort. I'm posting at the end of the thread asking for info that actually confirms what is being claimed; I don't dispute what is being claimed (I don't know enough about the subject to know one way or the other) but I am just wondering if any of it can be substantiated. In other words, once again, some of the legal advice on the internet is worth as much as you pay for it...

As far as how things work in practice, that's something that people might be able to comment about from their own experience.
lapin_windstar is offline  
Old Oct 14th 2009, 12:26 am
  #12  
Septicity
 
fatbrit's Avatar
 
Joined: May 2004
Posts: 23,762
fatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by jonnyjett View Post
The bank hasn't yet been informed that she's leaving the UK. How would the bank track back to the states? Furthermore, the loan is in her maiden name and she's going with my sir name when here.

The loan is unsecured, so it is uncollateralized, and there is no car, house, etc, attached to it.

I do understand the moral and ethical implications. But I'm more interested in the legal ramifications.
If she's not going to pay it, I don't see much point in helping the creditor to find you unless you are of a masochistic nature. Of course, you don't want to go as far as fraud and hitting the criminal statutes....because that might just screw her up.
fatbrit is offline  
Old Oct 14th 2009, 12:29 am
  #13  
Lost in BE Cyberspace
 
Joined: Jan 2008
Posts: 41,518
Sally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by fatbrit View Post
If she's not going to pay it, I don't see much point in helping the creditor to find you unless you are of a masochistic nature. Of course, you don't want to go as far as fraud and hitting the criminal statutes....because that might just screw her up.
Just noticed he's a knight
Sally Redux is offline  
Old Oct 14th 2009, 12:30 am
  #14  
Septicity
 
fatbrit's Avatar
 
Joined: May 2004
Posts: 23,762
fatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond reputefatbrit has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by Sally Redux View Post
Just noticed he's a knight
In days of old when knights were bold, eh?
fatbrit is offline  
Old Oct 14th 2009, 12:32 am
  #15  
Lost in BE Cyberspace
 
Joined: Jan 2008
Posts: 41,518
Sally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond reputeSally Redux has a reputation beyond repute
Default Re: British wife moving to US, has an unsecured loan

Originally Posted by fatbrit View Post
In days of old when knights were bold, eh?
He'll go home quite contented
Sally Redux is offline  

Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.