English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

I'm from the UK and I've been living in the US for 8 months and have to move back to the UK suddenly. I have taken out a lease on a car so will be returning the car to the dealership and won't be able to make the final payments. Will this bad credit be picked up in the UK? I don't plan on returning to the US to live so I dont' mind having the bad credit there, just don't want it to affect me in the UK!

2007-06-28 23:09:51 · 5 answers · asked by Sarah 1 in Business & Finance Credit

5 answers

Credit reporting agencies such as Equifax, TransUnion, Northern Credit Bureaus and Equifax, and others only collect information from creditors about consumers’ financial experiences in a particular country and is seperate from other countries credit reporting agencies and vice versa.

There are many reasons why credit reports do not transfer from one country to the next. The main reason behind this is because of differences in national laws. Every country, and the European Union, has its own laws governing credit reporting and information use. In addition to legal barriers, there are significant contractual complications around how businesses in other countries would access reports, report and update information and respond to consumer disputes. There also are a number of technical issues around how information is collected, stored and shared that further complicates transferring your credit report.

2007-06-29 03:44:14 · answer #1 · answered by Anonymous · 0 0

Probably not, actually. I lived in the UK for a number of years and when I bought a house I didn't have any UK credit record and they couldn't access my US credit file. I pulled a copy of my US credit report and it was accepted by the building society for the mortgage.

This was about 10 years ago and things may have changed since then. However, a UK based co-worker who is considering a position here in the US was advised by the bank here to bring a copy of his UK credit report when he applies for a US mortgage as they won't be able to access his UK record.

2007-06-28 23:17:41 · answer #2 · answered by Bostonian In MO 7 · 0 0

Yes; clean it up via credit repair before you leave. Usually companies charge hundreds of dollars to simply pull your credit and send correctly worded dispute letters—this is the key…..people will tell you that you can do this yourself for free but the truth of the matter is that the credit bureaus will throw your letters away or simply reject them. There is an easy to use online kit that will deliver the results you want available for just $19.95 at the source website. A similar kit is being sold via infomercials and radio talk shows for seventy dollars more but they try to solicit you repeatedly for other services after the fact.

2007-06-30 02:46:11 · answer #3 · answered by stephen l 2 · 0 1

I think it may depend upon the company. I had a friend who was able to take advantage of his Greek record because the firm he dealt with also did business in the EU and so they could access the Greek report.

2007-06-29 00:48:01 · answer #4 · answered by OPM 7 · 0 0

Of course. Debts are worldwide. Sorry

2007-06-28 23:12:19 · answer #5 · answered by Sal*UK 7 · 0 2

fedest.com, questions and answers