Paying off debt before moving?

[the_joker_40 0]

Hello everyone.

I had a quick question about paying off debt before you can move to the US. I've heard that you can't hold bank loans (ie hold a mortgage or car loans) also, I was wondering about a credit line through the banks.

thanks

Chris

[Asamu 0]

Hi Chris,

It is true that banks would not quite let you go with their money - that is just one way for them

to protect what is theirs - everyone wants to get paid.

In almost every situation there is a BUT - in this case - well read on...

Based on one of my friends' experience they set up an account with pay pall - www.paypal.com.

Then transferred funds from their pay pal account to a Canadian checking account - and paid their

credit cards or loans that way.

You have to be prompt with your payments and you got to start this process ahead of time for each

segment takes one to two business days.

If you default on your payments - that is when the banks realize that - wwwooow this person has a foreign address - and demand that the entire balance should be paid off at once!

Therefore, yest let them know of your plans - but again - make sure you pay them in time and all will be well ....

Good luck!

Asamu

[john_and_marlene 162]

You will probably find that the bank will not allow the car you are making payments on to be taken to the U.S. You will likely have to pay off the car loan to get it released.