leaving country with unpaid credit card debt

Nov 03, 2011

leaving the country with unpaid credit card debt
by: Debtcollectionanswers.com.

If you leave the country with unpaid credit card debt you will continue to owe the money and if you do not keep up with your payments, your accounts will be closed eventually and probably turned over to collections at some point. Therefore, without the credit cards that were issued to you in the US, you will have to build a new credit history in your new country of residence assuming you want credit there.

If any of your creditors initiate lawsuits against you before you leave the country, those lawsuits will move forward and if the creditors win their lawsuits, they can collect on the judgments by going after any assets you may have left behind -- money in a bank account for example. It's unlikely they will pursue you in your new country however.

All of the consequences of leaving the US owing money to your creditors will damage your credit histories here in the US, something you may regret later if you decide to return to this country. For example, the negative information in your credit histories could make it difficult if not impossible for you to obtain new or additional credit at reasonable terms, a good job, a place to rent, or adequate insurance. One other thing. Even if you were not facing these consequences, paying your debts is the right thing to do.

leaving country with unpaid credit card debt

Comments for leaving country with unpaid credit card debt

Comments for
leaving country with unpaid credit card debt