# Will Debt follow me to UK



## Eva (Feb 22, 2016)

Hi ,

First post here, been looking at a lot of threads for answers but none match my question .

We own a home here in Canada , however due to a personal situation will have to travel back to the UK very soon

We have tried to sell our home for the past 4 months but to no success my question is this

If we leave Canada soon without selling our property would the debt and bad credit follow us back to the UK ?

We have 35 thousand dollars of equity in the home and have no problem leaving it with the bank as i know just leaving a house is not the right thing to do, however in this case family is more important to me than money or hanging around to sell a house .

Any advice would be greatly appreciated 

Thanks in advance 

Eva


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## tygrus (Mar 13, 2012)

Well in Canada, the banks can haunt you forever. They will probably have to leave you alone outside the country but you will likely take your credit hit with you.

Declaring bankruptcy may be a better option.


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## fraser (May 15, 2010)

Yes, it will most certainly follow you.

One exception though. IF your house is in Alberta and IF you originally had a 20 or 25 percent down payment (not certain which) you will probably NOT be on the hook for any subsequent shortfall between selling price/fees and mortgage balance.


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## Eva (Feb 22, 2016)

Thanks guys for your answers 

When we came to Canada the credit i had in UK did not count in favour for me, we had to start again here which is right , but it travels from here to UK? but not other way or is it different because its bad credit 

Thanks again guys 

Eva


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## tygrus (Mar 13, 2012)

Why not just lower your price $35,000, sell your home faster and keep your credit intact. 4 months isnt that long.


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## lightcycle (Mar 24, 2012)

fraser said:


> Yes, it will most certainly follow you.


How does it follow you when you are identified by SIN here and another identification number in the UK?

Also the credit bureaus are different abroad than they are in Canada.

I think if the banks want to do an international check they can inquire manually provided you supply your SIN, but I don't think FICO scores automatically transfer over there. You basically start fresh with whatever UK ID# they use to identify you.


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## sags (May 15, 2010)

The expat websites say that credit reports are not transferred internationally, so you would start in the UK with your UK credit history.

As for lenders from Canada collecting from debtors in the UK, before a lender can collect they have to obtain a court judgement, which would be impossible to process in a foreign country.

You could leave your home for the real estate agent to sell and may recoup some of your equity. You can do all the paperwork by fax and email now.


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## james4beach (Nov 15, 2012)

I don't see how your credit history can follow you.

I came to the USA ... just next door ... where they even use the same credit bureaus. Yet there was absolutely no trace of my Canadian credit history. I started off as if I was a child, first only able to get a secured credit card. The first unsecured credit they issued me was limited to $500. Now two years later they will still only barely give me $1000 in unsecured credit.

The US lenders are completely unaware of my Canadian credit. I'd be shocked if UK lenders had any way to look at your Canadian credit.


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## lost in space (Aug 31, 2015)

Short Answer no and after 7 years you will cease to exist. I've tried several times to find my credit rating, I too had some problems, and there is nothing there. Also you can't file for bankruptcy or for a proposal once you are gone from Canada. If you move to the UK in a few years you'll have a new credit rating established there


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## Eva (Feb 22, 2016)

Thank you guys , all your advice has been very helpful

Eva


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## Mechanic (Oct 29, 2013)

I came to Canada in early 80's. Had to start building new credit. I had letters from Bank, mortgage etc as i recall but basically had to build again. Lost vehicle insurance no claims history too. I would drop the price to get rid of the house rather than destroy credit and burn the bridge.....you may want to return to Canada at some point.


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