lyndilou

when emigrating do you have to pay any outstanding loans off or can you still pay monthly til they are paid up. Just a thought we are in a position to pay up but thought the extra cash may come in useful just in case,

Englishtart

If you pay them through your bank monthly and automatically, could you just leave the account open and continue to pay them that way? AFIK I don't think there is a 'rule' about paying off loans before you move

lyndilou

I wasnt sure as I have read and reread so much about the process I am beginning to forgot what I have actually remembered,errr or something like that....see what I mean?

Jerseygirl

Best to check with the companies you obtained the loans from...some may not look favourably to non UK residents owing them money.

You can still continue to pay them from the US but if you are transferring money...there will probably be a charge. Also fluctuating exchange rates can affect your monthly payments.

lyndilou

oh yes thats a thought. Although could I leave a bank account open here with my say, personal pension payments going in - that would more than cover it, but it gets a bit messy I suppose

NYCbound

I got some great advice when I asked this awhile back:

http://britishexpats.com/forum/showt...28#post7672428

nettlebed

I've kept my bank account open, plus two UK credit cards ever since I moved here in 2002. No problems.

Jerseygirl

Keep at least one bank and one credit account open. Not only is it useful for visits to the UK...if you move back it will save you an awful lot of time and trouble. UK banks and CC companies require you to jump through all sorts of hoops to open an account when you return.

Most will mail all correspondence to your US address...if not give them the address of a relative.

lansbury

That is what I did.

My pension payment still goes into it and pays off a few UK bills, life insurance and the like, before I transfer the rest over here.

lyndilou

thanks everyone at least I know my options and I am not alone in thinking it may be a good idea to keep the cash and payoff th eloan as usual