We are having an argument with my roommates about what would happen if we all just leave the country and leave all of our debt behind. I think that eventually the creditors will sue you and then serve you papers in any country. My roommate thinks that they will allow you back into the country, but arrest you and send you to jail. Anyone know how we can settle this? (Ooo the crazy late night banter) Any knowledge would be appreciated!
2007-02-13 17:49:55 · 5 answers · asked by dokz r 1 in Business & Finance ➔ Credit
They won't arrest you, they won't sanction you, they won't do anything to you. If you leave the country for a long period of time, your credit score will severly drop and your debt stays with you where ever you are. If you use a credit card anywhere in this world, they can track your movements.
If you die with lots of debt, no one will have to pay for it, unless you have a joint account on some of your credit cards. If you have any assets in your estate, the creditors will have first priority before family members.
2007-02-13 17:59:42 · answer #1 · answered by Anonymous · 5⤊ 0⤋
In some countries like Canada, the debt/bad credit will follow you back to Canada if you incured it in the United States. It depends on how big the debt is before they arrest you. If it is over a certain limit, like over a few thousand dollars it could be considered fraud, and yes they will arrest you when you re-enter.
I'm not sure if they will seek you out to serve you papers in any country.
2007-02-13 17:55:12 · answer #2 · answered by gotham158 3 · 0⤊ 0⤋
You didn't mention what country you're in. I'm an American who went to Korea to make money to pay my bills. I ended up getting sick and defaulted on my bills. Nobody came to Korea looking for me. Eventually I went home and lived at my mother's house without telling my creditors. I've been there eleven years and I still don't usually answer the phone. If I do, I tell strangers I don't live there. My credit card bills are barred by the statute of limitations, but I have more recent unpaid hospital bills and outstanding government-guaranteed student loans that are immortal. If I'm due a tax refund, they grab that for the student loans, however I've been sick a lot and out of work for a long time. I got a credit report for a job one time and my long-lost bill collectors started calling my mother's house. We told them I didn't live there. Sometimes I get letters from bill collectors, concerning my hospital bills. They want ridiculous amounts of money for frankly not much, and even less that I asked for. I don't respond.
For further information, go to google.com. If you're an American, check out statute of limitations debt arizona, or whatever state you live in. Elsewhere you should check out something like statute of limitations debt uk, or whatever is appropriate. Check more than one source. Stuff on the Internet isn't always accurate.
Nobody's going to waste money suing someone who's broke, and your credit report will usually go back seven years, possibly ten. If you're planning on going to Mexico, the age of consent is 18, not 12 like they tell you on the Internet.
2007-02-13 18:16:44 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Depending on the country you are both right. A friend's ex skipped out to England and when he came back for a visit was met by the police.
2007-02-13 17:57:04 · answer #4 · answered by tim_klein2001 2 · 0⤊ 0⤋
Your credit score will be crap. You will not be able to get any loans or credit cards. Other than that nothing will happen to you.
2007-02-13 17:54:08 · answer #5 · answered by the Boss 7 · 0⤊ 0⤋