loans

[wolfy1]

Is it legal or even possible to get a loan from England when I live in the US?

[FW Admin]

This is a very wide-sweeping question, and there are quite a lot of conditional answers, but in general, the short answer is "no".

A very few of the conditions that may apply would be:

* if you were a student and applying to attend a university in the UK;
* if you had a proven residence in the UK for at least 3 years (in order to obtain a satisfactory credit rating)
* if you had an established UK bank account in your name
* if you had US/UK dual nationality/citizenship

among others; however it is very restricted as loans etc. in the UK are governed by financial regulations.

[wolfy1]

Thank you for your answer. Is it okay to send you the information that I recieved from this person who is offering a loan here or do I need to post it elsewhere?

[FW Admin]

You can forward the email as an attachment to me (this will give me the email header information) at: webinfo@fraudwatchers.org

[Frazzle]

I'd add that, quite apart from the scam probability, it is somewhat risky to borrow money overseas.

If there is an adverse change in the exchange rate, you would suddenly find yourself paying back much more than you expected. Of course, if the exchange rate goes the other way, you might get a good bargain.

Without personal knowledge of UK financial laws and regulations, you should hire a UK lawyer to protect yourself. That alone could be extremely expensive.