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Credit card debt and leaving HK

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  1. #11

    Join Date
    Dec 2013
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    Hong Kong
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    Amex shared my data between countries in the past to give me cards and credit limits taking account of past records. My "customer since" date dates back through 3 countries. Sure they do the same for debt.

    spode and chingleutsch like this.

  2. #12

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    In the US, it is easy for an individual or company to apply a judgment to withdraw funds from your bank account or apply a levy on your wages or tax returns. Usually individuals in the US overpay on taxes and receive a refund. Thus you wouldn't be able to receive your refund as it would do directly to settle your debts.

    Do other countries have these policies. Not sure. But a global lesson is to not get into these situations to begin with. I'm not sure why people use credit to satisfy purchases or even medical services when they don't have the money. One should seek assistance from the government or not spend. Credit shouldn't be looked at as accessible cash rather convenience to use money you already have and as a result you can earn miles or cash back. This is simply being a responsible adult.

    One day you have to face the music. Unless you're on you death bed.

    Would kind of suck to burn bridges with HK (you never know if you'll end up back here) and as a young person not be able to have a credit card for the rest of your life (AMEX will blacklist for life -- others follow statue of limitations). Plus your inability to pay your debts is passed on to the rest of us. And makes borrowing money in the future more difficult (more strict).

    I like that HK is very trusting in lending and gives a lot of us the opportunity to get on the property ladder. Whereas a normal or even white collar Joe living in NYC could probably never buy a property given the LTV and lending requirements.

    I have noticed that HK banks and credit companies are starting to use credit reporting services. I don't think they used this much in the past. It's only a matter of time before information sharing is enhanced and your credit record will be suffered in other countries.

    Before HK simply worked on 3 last pay-slips and you're approved. Now it's getting more detailed. Likely due to non payers.

    Sith, jack21 and kimwy66 like this.

  3. #13

    Thank you all for your great responses

    I have Amex in UK as well (which is in good shape). And Amex HK also knows my address and my work place. I updated my address when I moved to UK as I had no intention of not paying off my balances. So they know all my details.

    I have received a phone call this morning from Amex, saying I need to pay immediately otherwise they will pass my info to collection department, I asked if the collection department is for Amex? They said yes. They asked how much I can pay by Feb 1st, I said 20K. They weren't happy and said will call again on "Monday and I hope you will give me the good news".

    So I assume they will have a procedure to chase me, given they have my details. They can chase me at home and/or my work place.

    I have no idea of the timeframe when they will start to do it. And how it will be dealt with. I just think it'll be such a hassle if they chase me to my home and especially my work place.

    I'm totally willing to pay and can pay but just can not provide in a rush, at the same time I need to deal with HSBC but they are much more flexible.


  4. #14

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    See if you can speak to someone higher up and try to ask for interest fee waiver and late fee waiver. If they can't help at a minimum I'd probably tell them to F off and block their phone number.

    jack21 and hullexile like this.

  5. #15
    Quote Originally Posted by MandM!:
    See if you can speak to someone higher up and try to ask for interest fee waiver and late fee waiver. If they can't help at a minimum I'd probably tell them to F off and block their phone number.
    Who you think should be the higher up person to ask for interest fee waiver and late fee waiver? I would need to agree on a settlement, to pay monthly back for a few month.

    I like the F off idea, but holding my breath until everything else is tried.
    Last edited by jack21; 23-01-2018 at 02:10 AM.

  6. #16

    Join Date
    Dec 2009
    Posts
    6,714
    Quote Originally Posted by jack21:
    I have Amex in UK as well (which is in good shape).
    Cut that one up now then and avoid adding to your debt.

  7. #17
    Quote Originally Posted by emx:
    Cut that one up now then and avoid adding to your debt.
    As I mentioned it's in good shape, and I'm not using it.

  8. #18

    Join Date
    Dec 2013
    Location
    Hong Kong
    Posts
    12,323

    Let a proper loan and pay off the credit card debts. Credit card interest rates are MUCH higher than bank loan rates and you can schedule a bank loan properly.

    jack21 and Sith like this.

  9. #19

    Join Date
    Aug 2013
    Posts
    11

    Did you hear anything further?

    Quote Originally Posted by jack21:
    Thank you all for your great responses

    I have Amex in UK as well (which is in good shape). And Amex HK also knows my address and my work place. I updated my address when I moved to UK as I had no intention of not paying off my balances. So they know all my details.

    I have received a phone call this morning from Amex, saying I need to pay immediately otherwise they will pass my info to collection department, I asked if the collection department is for Amex? They said yes. They asked how much I can pay by Feb 1st, I said 20K. They weren't happy and said will call again on "Monday and I hope you will give me the good news".

    So I assume they will have a procedure to chase me, given they have my details. They can chase me at home and/or my work place.

    I have no idea of the timeframe when they will start to do it. And how it will be dealt with. I just think it'll be such a hassle if they chase me to my home and especially my work place.

    I'm totally willing to pay and can pay but just can not provide in a rush, at the same time I need to deal with HSBC but they are much more flexible.
    Hi Jack, did you hear anything further on this? Curious to see how you got on!

  10. #20

    Sorry to up this thread but would love some feedback in my specific case.

    I left HK early 2017 due to a family emergency. Managed to do my taxes and left HK with around 25/30K in debt on my CITI bank visa cards. Once in my home country in Europe I wanted to pay off the cards however the system required an authorisation code send to my HK phone number to be able to do the transfer.

    And I had no more access to my HK number... and so the c r a z y problems with CITI bank began:

    Calling CITI costumer service, calling the local branch in HK, emailing, social media support (gotta try everything) all resulted in the same answer: Here is the form to change the number and you have to visit the local branch in HK in PERSON to change your phone number and or to pay off the cards.

    As that wasn't possible I send 2 HK friends on 4 different occasions with all documents, authorisation forms etc to the local branch but same answer again and again: For me to be able to make the transfers and pay of the cards: I have to return to Hong Kong and do it in person... wich wasn't possible.


    So after a few months of trying to pay off the cards (because I had and still have the funds) I simply gave up...When I left HK I simply figured I could pay off the cards once I got to my home country but that wasn't the case. (I had full intend of paying off everything)


    Now Im looking to return to Hong Kong for a few days to visit my friends. My CITI cards (obviously) dont work anymore but the bank account itself it still active (But no more mention of the debt). So now Im wondering if I will encounter any troubles when entering and leaving the country.

    Any feedback would be appreciated.