Old Credit Card debt in USA
Date: Mon, 01/22/2007 - 07:24
I have a problem i would like some advice on.
I used to be a student in the USA. During that time i got several credit cards (9 to be exact). The problem was i had to pay off part of my tuition with them. So, even though i worked for a year i couldn't pay them off. So, bottom line is I went back to my home country and now i am wondering how this will affect my credit rating in Japan. Would they be able to sue me in Japan? Would this make it difficult for me to make a loan here in Japan?
I have stopped making payments on the cards probably 13 months ago and i tried making an online payment 4 months ago - all accounts are locked, so i obviously have to call them.
The problem is my family situation does not allow me to pay them off currently even if i wanted to - no money yet. So ...
I would really appreciate any help and advice you can give me!
Thanks!
Do you plan to return back to US sometime in the future? There
Do you plan to return back to US sometime in the future? There is a possibility that the credit company has already filed a legal case against you for not paying the debt and you will find a default judgment in the mailing address here in US.
The laws are different across borders. I don't think that your not paying the debt in US is going to affect your potential of getting a new loan in Japan. Because the Fair Credit Reporting Act is not the same in each country. Because of this, they cannot sue you in Japan. However, if they have some sources in Japan, they will try to recover the money through their agents.
Thanks for the reply!!
Thank you very much for you reply!!
I am not planning to live in the US anytime soon. However, even if i go back 5-6 years from now - what should i expect? If I can, i will of course take care of the debt and pay it off - but by that time wouldn't the interest rates make it so much it would be impossible for me to pay?
In terms of collector agents in Japan - what sort of action should i expect from them? Do you know anywhere I could possibly find information on collector practices in different countries?
Again, thank you for you reply - really appreciate it!
John
By the way what is the default judgement? Can I expect it to rea
By the way what is the default judgement? Can I expect it to reappear if I ever go back?
I am sorry for the dumb questions but i am a complete novice when it comes to law.
Thanks