Guest mommyof3inmi Posted March 5, 2008 Share Posted March 5, 2008 Hi. I recently read a thread about credit. The question was how does credit affect your move from the U.K to Oz? Well, the answer was it doesn't affect it. Does this go for the U.S as well? My credit is pretty bad here in the U.S and I am worried they will do a credit check on me. Hubby's credit is ok. (this is an awesome site by the way) you have helped me so much already with questions and I really appreciate it. Thanks for being here!:cool: Link to comment Share on other sites More sharing options...
Stuju Posted March 5, 2008 Share Posted March 5, 2008 Hi, We applied for aussie credit card & rental when we arrived here down under - they just checked us for any debts in Oz - we did ask about uk checks but they said that they didnt take them up - so maybe they don't check your rating in U S either. all the best gizmo Link to comment Share on other sites More sharing options...
Guest mommyof3inmi Posted March 5, 2008 Share Posted March 5, 2008 :spinny:Thanks Gizmo, I really hope it's not a problem as I have my heart set on moving to OZ! Judy Link to comment Share on other sites More sharing options...
Guest adey Posted March 5, 2008 Share Posted March 5, 2008 We weren't credit checked either for the UK so assuming its the same for everyone who migrates here. Credit ratings are different here they tend to go on how much you earn and currently owe in Oz and take into consideration your cost of living and bingo if you've got enough spare cash every month then you can borrow money. Link to comment Share on other sites More sharing options...
Guest DavidandNicky Posted March 5, 2008 Share Posted March 5, 2008 Borrowing the money is one thing - paying it back is an entirely different matter!!! Interest rates in Australia are on the up and may not bounce back down for a while. I hope you get the loan/morgage you need, just be sure you can afford it. Good luck, Link to comment Share on other sites More sharing options...
Guest Liam Posted March 5, 2008 Share Posted March 5, 2008 Borrowing the money is one thing - paying it back is an entirely different matter!!! Interest rates in Australia are on the up and may not bounce back down for a while. I hope you get the loan/morgage you need, just be sure you can afford it. Good luck, Here is some info on Credit Files in Australia...as you see no mention of overseas! What is a credit file? A credit file (or credit report) is a record containing information about a person's dealings with lenders in Australia. The file is held by a credit reporting agency and accessed by lenders with the potential borrower's consent. You can access your own credit file as well. Everyday, many businesses make decisions based on an individual's credit history. Lenders regularly use credit files to assess whether they should give a potential borrower a loan. For this reason, it is important that the information on the person's credit file is accurate. What information can be recorded on a credit file? Personal details including your name, address (and past addresses), gender, and Australian driver's licence number Any records of credit applications made by you in the past five years in Australia Any records of your current loans in Australia Accounts where you have been in default for more than 60 days in Australia Where the account was listed as being more than 60 days in default and that default was fixed, the credit file will also list the date the default was fixed (so the listing does not get removed when you have paid in full) Any Australian court judgments you may have been involved in. Dishonoured cheques where the amount is over $100 and the cheque was presented twice in Australia Any Clearout Listings, which is where the Australian lender has tried to locate the debtor unsuccessfully and reasonably believes that the debtor has decided not to pay the debt. Any Australian bankruptcy orders (including Part IX Debt Agreements). Your credit report cannot include information identifying your political, social or religious beliefs or affiliations, criminal record, medical record, ethnicity or sexual oritentation. As you can see if the lenders rely on your past history then if you are a new arrival then you have none abd some may avoid you. First step is to set up a local bank account and ask for a small balance on a credit card, say $2000, once that has been processed...you now have a crtedit history and other lenders likely to look favourably on applications as you have a clean credit history! hope this is of help Liam Link to comment Share on other sites More sharing options...
Guest mommyof3inmi Posted March 5, 2008 Share Posted March 5, 2008 :v_SPIN:Liam, thanks for that information. I am very glad to hear it. thanks everone for your emails! Link to comment Share on other sites More sharing options...
Guest roger ramjet Posted March 5, 2008 Share Posted March 5, 2008 It's true Aussie banks aren't concerned by anything other than your Aussie credit history. Your poor record in the US or UK won't matter. You will need to live in Oz for 6 months though to get a credit card. Link to comment Share on other sites More sharing options...
Guest Helaine Posted March 9, 2008 Share Posted March 9, 2008 my brother moved to oz 18 months ago, he was bankcrupt in the uk due to his business going under, this did not or has not affected his credit rating in oz, so dont worry Link to comment Share on other sites More sharing options...
Guest lea Posted March 10, 2008 Share Posted March 10, 2008 Hi Helaine I currently live in the uk and will be going bankrupt in the near future as i am a student and have not been able to pay my creditors. My partner and i want to move to oz in the next couple of years. Will bankruptcy affect our migration to oz and do they ask or find out that you are bankrupt? If i move to oz as an undischarged bankrupt would we be able to get a mortgage as it`s not in the uk. Sorry about all the questions but i`m really worried about this! Can you advise? Link to comment Share on other sites More sharing options...
Guest mommyof3inmi Posted March 10, 2008 Share Posted March 10, 2008 From what I have read on here no it won't affect your move to OZ. But I am far from an expert, so maybe you should post your question and see what you come up with. Good luck Judy Link to comment Share on other sites More sharing options...
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