Need to Settle Unsecured Credit Debt
Date: Thu, 11/04/2010 - 20:48
I am seeking an advice or suggestion on this forum
I am non US Citizen and tried of waiting to get a Green Card so Moving to Other Country on PR for Permanently in 4 – 5 months and don’t have any plan on coming back to States in near future but still don’t want to close the door for future to come back, so worried about the Debt I Have on My Unsecured Card, I have almost 27000k on my CC and I am not in a Position to pay off all of them in this short time.
Question I have is ;
- Can I Settle my CC Accounts Debt in 4 months
- As I am moving to Country where they use the same credit bureau what we have in USA. So I am Worried about the negative Credit which will effect my Life there.
- Also when trying to get a Job in a New Country they might get Check my Credit History as they have the same credit bureau which will have a negative Effect on find a Good Job. I am Stating this because I have to Show my Previous Experience to get a Job , so I have to Show the Experience from USA and They May Ask me for my SSN to Check my credit history.
- Can a Company can Seal my Back Account and freeze my saving what I have, As Currently my salary is deposited directly in to bank account. So I am concern about it.
- Is they are able to stop me going out of Country because of debt.
- Is it Advisable to keep money in a Bank?
- Should I Stop paying minimum or just directly talk to them as I don’t have much time left.
- How should I Initiate the Settlement
- I have CC Debt with
o BOA – 2 Cards (9 k)
o Discover – 1 card (1k)
o Credit union – 1 card (4 k)
o Chase card – 2 card (3k)
o Citi card – 1 card (3 k)
o Best buy – 1 card (1 k)
o Medical Card- 1 card (3k)
o Capital one – 1 card (1k)
Wish I could have able to Pay all the Debt and don’t need to go to settlement route but I can’t take a chance of losing the Permanent Residence Status I got in other country as in USA to get a GC is very Difficult and Time Consuming.
Also Currently I am Barely able to pay all the minimums and its really not helping me as my INT rates are going up and they are reducing my Credit which adding fuel to the fire. My wife cannot work because she don’t have work visa and again my daughter is small so she have to take care of her.
Please Advice …
Thanks
Desperate
So I take it you are moving to canada. If you can barely pay
So I take it you are moving to canada.
If you can barely pay the minimums, how are you going to settle 27K in 4 months??
FYI....they can sue you in Canada for US debts.
I have some Saving of 9 k which i have kept for Bad days which i
I have some Saving of 9 k which i have kept for Bad days which i am not touching but looking at a situation i have to use it and i am also working so can save some while in a process of settlement . But my Saving is not That Big where i can Pay all of them and again when moving i dont have to go empty handed , atleast i should have some where i can take of two - three months expenses of me and my family.
also There are Some Family Responsibility I have to Fullfil as a Elder Brother , As my Brother is Getting Married so i have to Pay the Expenses , not all but atleast some where i can take burden out of my Parents. If i dont have to move i could have paid all .. but its a time crunch situation where i can let my status go away and not able to pay all of the debth. I feel Bad of not paying of what i use .. i never been in this situation but one learns from your mistake. Also I have a Secured Loan of car for which i have some 8k .. so that is also a pain but for that i can sale the car and pay off ... but dont know am i doing the right thing .. please advice or suggest i appriciate it