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Should I file bankruptcy or go overseas?

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I have no address or assets in US. I have accumulated a credit card debt of $100,000. What should I do? Should I go back to Germany and forget these debts? Can I get sued there?




Tricky situation. Did you accumulate this huge amount of debt just because you're not a resident of US? Creditors can sue you only in the county where the debt was originated. You can go back to Germany. But creditors can still you in the US. They can try to locate you in Germany too. If they can't locate you in Germany, then you can live there peacefully.

Sub: #1 posted on Fri, 05/11/2018 - 03:33

ditchdebt ditchdebt

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Relocating to other country to avoid debt may be very appealing. But you might encounter few issues. If you don't pay the credit card bills and a lawsuit is filed against you before you move on to Germany, the local court would hear the case. However the court would not be able to force you if you move forward before the case was resolved. But your creditors might find you by following a trail you've left. If you work for an US based company after you move forward, it is possible your creditors might spot you and your wages might get garnished. Apart from that, you have to build a credit history again for future financial deals.

Sub: #2 posted on Mon, 05/14/2018 - 02:11

tiarajoseph11 tiarajoseph11

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Relocating will not help you in your case. If your earning is good, then take out a consolidation loan to pay off all the debt and manage one single loan properly.
You can also settle your debts with the help of a debt management company. What is your current income status? Can you afford a debt settlement to pay off our debts?

Sub: #3 posted on Fri, 05/18/2018 - 06:25

sanderspatricia29 sanderspatricia29

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