Moving to US with UK debt.
Aug 29th 2010, 12:12 pm
#16
Forum Regular
Joined: Aug 2010
Posts: 60
Re: Moving to US with UK debt.
I have about £16k worth of debt and as and when I 'find my way in' (L1 looking likely at the mo) I plan on bringing my debt, whatever level it be at, with me...as in taking out a dollar loan to cover paying the UK loan off in it's entirety.
What are the loan rates and successful application rate like in the US at the mo?
What are the loan rates and successful application rate like in the US at the mo?
Aug 29th 2010, 1:57 pm
#17
Sursum corda
Joined: Sep 2002
Location: Richmond Hill, GA USA
Posts: 38,860
Re: Moving to US with UK debt.
I have about £16k worth of debt and as and when I 'find my way in' (L1 looking likely at the mo) I plan on bringing my debt, whatever level it be at, with me...as in taking out a dollar loan to cover paying the UK loan off in it's entirety.
What are the loan rates and successful application rate like in the US at the mo?
What are the loan rates and successful application rate like in the US at the mo?
IT's tough enough these days for "native born" folks here in US with good, well established credit ratings.
Aug 29th 2010, 2:40 pm
#19
Forum Regular
Joined: Aug 2010
Posts: 60
Re: Moving to US with UK debt.
Things have improved greatly here in the UK over the last 6 months in terms of availability of loans to those of us in the middle of the financial ladder at least...at one stage it was difficult for everyone which was bad even for those of us lucky enough not to have been effected all that much by the recession...
I suppose I leave the loan put then and find the cheapest way possible to transfer income into my UK account...although, by the time we've sold cars, HD TV's, home cinema and all the other stuff that we wouldn't be able to take with us i guess it may be possible to pay off or at least reduce the debt prior to departure!
Aug 29th 2010, 2:42 pm
#20
BE Forum Addict
Joined: Aug 2009
Location: Silicone Valley
Posts: 1,730
Re: Moving to US with UK debt.
Rates and application success still shakey then I guess?
Things have improved greatly here in the UK over the last 6 months in terms of availability of loans to those of us in the middle of the financial ladder at least...at one stage it was difficult for everyone which was bad even for those of us lucky enough not to have been effected all that much by the recession...
I suppose I leave the loan put then and find the cheapest way possible to transfer income into my UK account...although, by the time we've sold cars, HD TV's, home cinema and all the other stuff that we wouldn't be able to take with us i guess it may be possible to pay off or at least reduce the debt prior to departure!
Things have improved greatly here in the UK over the last 6 months in terms of availability of loans to those of us in the middle of the financial ladder at least...at one stage it was difficult for everyone which was bad even for those of us lucky enough not to have been effected all that much by the recession...
I suppose I leave the loan put then and find the cheapest way possible to transfer income into my UK account...although, by the time we've sold cars, HD TV's, home cinema and all the other stuff that we wouldn't be able to take with us i guess it may be possible to pay off or at least reduce the debt prior to departure!
Aug 29th 2010, 3:00 pm
#22
Forum Regular
Joined: Aug 2010
Posts: 60
Re: Moving to US with UK debt.
Utilities I find a little odd though....I assume there is a way of getting established relatives or indeed your employer to assist in guareenteeing some of these kind of things?
Aug 29th 2010, 3:07 pm
#23
Lost in BE Cyberspace
Joined: Oct 2003
Posts: 22,105
Re: Moving to US with UK debt.
In all fairness, this makes sense with no credit history...I guess this means no flash car either?! (I'd get a motor with the job anyway, but the missus might like something nice!)
Utilities I find a little odd though....I assume there is a way of getting established relatives or indeed your employer to assist in guareenteeing some of these kind of things?
Utilities I find a little odd though....I assume there is a way of getting established relatives or indeed your employer to assist in guareenteeing some of these kind of things?
Aug 29th 2010, 3:11 pm
#24
Septicity
Joined: May 2004
Posts: 23,762
Re: Moving to US with UK debt.
In all fairness, this makes sense with no credit history...I guess this means no flash car either?! (I'd get a motor with the job anyway, but the missus might like something nice!)
Utilities I find a little odd though....I assume there is a way of getting established relatives or indeed your employer to assist in guareenteeing some of these kind of things?
Utilities I find a little odd though....I assume there is a way of getting established relatives or indeed your employer to assist in guareenteeing some of these kind of things?
You will pay a deposit on utilities with no credit history. Just pay it -- they'll release it after 6 months or a year.
Aug 29th 2010, 3:48 pm
#25
Forum Regular
Joined: Aug 2010
Posts: 60
Re: Moving to US with UK debt.
You don't want a flash car, anyway. Your insurance rates are tied, among others, to your credit history and US driving history -- and you score zilch on both. With a cheaper car, you can insure for liability only and take the considerable savings.
You will pay a deposit on utilities with no credit history. Just pay it -- they'll release it after 6 months or a year.
You will pay a deposit on utilities with no credit history. Just pay it -- they'll release it after 6 months or a year.
