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  • 1 Post By Rob2020
  • 3 Post By er2

Left Hong Kong in 2013 with a loan default

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  1. #1

    Post Left Hong Kong in 2013 with a loan default

    I worked in Hong Kong long back from 2011 to 2013 and I had defaulted on a personal loan in 2013. I had to leave Hong Kong as I lost the job and my financial condition wasn't too good.
    I partly paid back the loan but not fully. The last communication I received from the bank was in 2015 at my office address in India.
    I might get a job offer from a bank in HK this year. I am worried if that default will appear in my credit check.
    Does anyone know if defaults are ever written off your credit?


  2. #2

    Join Date
    Oct 2010
    Posts
    23,758

    Pay off your loan now, then it won't be a default.


  3. #3

  4. #4

    Join Date
    Oct 2007
    Posts
    1,833
    Quote Originally Posted by TheBrit:
    Pay off your loan now, then it won't be a default.
    Dude. It still will be a default. It won’t be an open debt anymore. Didn’t you work in finance?

    OP - don’t do what TB suggest here, at least not in order to improve your situation. trans union keeps defaults on the record for five years after you make good on them, and depending where you are going to work this could well be an issue. First thing is to get your credit report - you can get it online from transunion. You might need a HK phone no but this should be doable. Check first if the item is still on the report and if it is, contact transunion to remove it (no comms for seven years). Once it’s cleared, paying it off is something you could consider purely for reasons of not leaving any debts open.
    Last edited by er2; Yesterday at 10:17 AM.
    shri, Mrs. Jones and aw451 like this.

  5. #5

    Join Date
    Nov 2022
    Posts
    128
    Quote Originally Posted by anshumanpanwar:
    I worked in Hong Kong long back from 2011 to 2013 and I had defaulted on a personal loan in 2013. I had to leave Hong Kong as I lost the job and my financial condition wasn't too good.
    I partly paid back the loan but not fully. The last communication I received from the bank was in 2015 at my office address in India.
    I might get a job offer from a bank in HK this year. I am worried if that default will appear in my credit check.
    Does anyone know if defaults are ever written off your credit?
    Can they prove the communication from 2015? In any case, as it’s been over seven years, request Transunion to correct their records. Let us know how it goes.