Moving to the United Kingdom...debt question.?

[Christine C]

I am from the UK originally but have been here with my husband for 5 yrs, we are thinking of moving to my home country because we now have children. When moving how does it work with your debts, are they transferred and they just mail the bills to your UK address or is it sold to the country you move to?

[paul h]

dont tell the buggers your moving LOL

[qstnanswr]

One's debts follow one to the U.K. to the extent that there are computers to assist them in doing so. Usually one sends the companies a forwarding address provided on the back of their form or consult the post office for the correct 'move overseas' address change. By 'sold' do you mean one's house? You can sell your house using the realtor or a designee as seller while you return to the U.K. if it is no longer desireable for any reason for you to personally oversee the selling of your home (or other possessions). The money is paid wherever you designate, less real estate taxes owed or other expenses.

[rhsaunders]

You will need to deal with each account individually, and determine whether to:
- Pay it off and close it;
- Supply your new address, and worry about how to pay the dollar debt with pounds (your bank can deal with this -- for a price);
- Move the account to UK, if the creditor has operations both there and in the US.