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Repaying loan from overseas (USA)

Hello lovely helpful SFE people,

I graduated in summer 2016 and have subsequently started a job in the USA which will be on an open ended contract basis.

I have two questions concerning my repayments- I earn more than the threshold so repayments start in April:

1) My UK bank account is overdrawn by almost a thousand pounds. I am paying this off slowly slowly and when it is clear I don't intend to use it- I will probably close it actually. Is there a way to repay the loan from my US account? I am mindful of the fact that I will probably get charged lots of money by my bank here for anything other than sending you a US dollar cheque....

2) Is any movement on the US repayment threshold possible? The cost of living varies hugely in this country, and I live in Orange County California- one of the most expensive places to live in the US with rent prices the same as London. The threshold is a bit harsh for me, whereas if I lived in say Detroit I'd have no problem with it as I'd be paying peanuts for rent.

Thanks,

Ben

Reply 1

Pamela SFE

Official Rep

Hi bensmith007

You can't have a direct debit from an overseas account but you can see our payment options here: http://bit.ly/1kg0AGq

The thresholds are taken from the cost of living by the World Bank. These threshold are usually updated once every April.

Thanks

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