I am living in Europe now. I have a debt of 35,000 dollars/credit cards in America.
I was just wondering what could happen to me if I just stop making the payments. What they can do against me in Europe?
I am planning also get maried and later on get new citizenship...
Also they are charging 23% APR on this balance. Sometimes I just think about stoping the payments...
2006-10-23 06:03:55 · 6 answers · asked by MARK 1 in Business & Finance ➔ Credit
Depending on which country, not much, probably.
Credit reports are based on Social Security Numbers. Of course, SSNs are not relevant in Europe.
However, if you apply for a European Visa or MasterCard/EuroCard, they will probably catch you, and decline.
2006-10-23 15:36:48 · answer #1 · answered by crimethinker1984 2 · 0⤊ 0⤋
First all of your accounts will start accruing late fees, then collection fees, then legal fees last but least you will not be able to get any credit anywhere.
Contact the companies and attempt to negotiate an interest reduction. They would rather have part of the money than no money.
Once you ruin your credit, you will NOT be able to get a car, insurance, a house, rent a place to live or pay for a wedding for a lonnnng time.
Many years!!!!!
Think long and hard before you think you can ignore your credit. Your credit record probably goes from country to country.
Are you in a financial bind or do you just want to stop paying? Think it over long and hard before you do this.
2006-10-23 06:24:06 · answer #2 · answered by ? 7 · 0⤊ 0⤋
Well first of all, its going to ruin your credit. Your credit score follows you wherever you go. If you're planning on getting married, you'll probably be looking for a house ... and if you've got a huge charge-off on your credit, it'll be hard for you to get approved for anything. If they decide to take you to court, I doubt you'll be extradited back to the US over credit card debt, but you'll be living with that over your head for the rest of your life.
2006-10-23 06:13:41 · answer #3 · answered by ♦Hollywood's Finest♦ 3 · 0⤊ 0⤋
they'll ruin your credit score, and send a collections agency after you.
2006-10-23 06:11:40 · answer #4 · answered by isoar4jc 3 · 0⤊ 1⤋
CREDIT FOLLOWS YOU NO MATTER WHERE YOU GO
2006-10-23 06:36:44 · answer #5 · answered by FRECKLES 6 · 0⤊ 1⤋
youll have to pay no matter what
2006-10-23 06:06:43 · answer #6 · answered by Anonymous · 0⤊ 1⤋