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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I have several loans and credit cards with HSBC in Hong Kong

Customer Question

I have several loans and credit cards with HSBC in Hong Kong where I lived for 30 years until last year before moving back to my original home, the UK. I can no longer service these loans as, following the calliope of my business, I have no income in Hong Kong or UK. I have no assets in Hong Kong and my only asset in UK is the family home. Can HSBC Hong Kong (or HSBC UK) make an enforceable claim my UK property in the event I default the loans which is likely very soon
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you with this.
What did the terms say about jurisdiction please?
Customer: replied 1 year ago.

I would now like to proceed with this question.

There is a typo on my earlier message calliope s/b collapse.

The credit card agreements are subject to the law of Hong Kong SAR.

Expert:  Ash replied 1 year ago.
Then no, they can't do anything in the UK. This is because the agreement is governed by the law of Hong Kong. This means they have to issue proceedings there.
So even if they get Judgment in Hong Kong that can't be enforced in the UK because there is no agreement in place between the UK and HK.
So no, it can't be enforced in the UK. Can I clarify anything for you about this today please?
Alex
Customer: replied 1 year ago.

OK thank you. Can you please confirm that there is no agreement to transfer court judgements from Hong Kong to UK and vice versa or any form of reciprocal arrangement.

Expert:  Ash replied 1 year ago.
Correct.
Alex
Ash and other Law Specialists are ready to help you
Expert:  Ash replied 1 year ago.
Hi
I am just following up to see if there is anything else I can help with?
If you have not done so already might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.
If you need more help please click reply.
Alex
Customer: replied 1 year ago.

Hi

A little confusion about my duplicate JustAnswer accounts but we seem to be back on track now. I relayed your earlier advice to a barrister friend of mine in Hong Kong who concurred but suggested that even though the UK court might not be willing to make a judgement as the law of the agreement is HK this might not stop HSBC issuing a writ which could be accepted by the UK court and that could result in substantial UK legal fees for which I could be held liable. Do you agree that is a risk?

Expert:  Ash replied 1 year ago.
They can't stop trying but whether it can be enforced is a different Matter.
Alex