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Unsecured personal loan and unpaid credt cards

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  • Guest
    Guest replied
    Was wondering how this usually works out these days?

    Leave a comment:


  • Disagreeable
    replied
    Re: Unsecured personal loan and unpaid credt cards

    Depending on what state you are in, the tolling of the statute may freeze when you leave. You can come back to a all your debt.

    Leave a comment:


  • BOR
    replied
    Re: Unsecured personal loan and unpaid credt cards

    Originally posted by Joann View Post
    Can they arrest me?
    Most state constitution's forbid imprisonment for debt except in cases of fraud.

    It is wise to NOT totally ignore your obligations and leave the Country, attempt to work out the debt or file bankrupcty.

    Leave a comment:


  • Friend In Court
    replied
    Re: Unsecured personal loan and unpaid credt cards

    Originally posted by Joann View Post
    Hi, I opened an unsecured personal loan to cover my credit cards debts. I lost my job, I can't afforde to pay back the loan. I want to relocate in Europe. What the collectors can do to me? In order to sue me, they have to find my new address? Can they sue me in Europe? The loan will be on my credit for 7 yrs like the creit cards? Can they arrest me? Thank you

    Arrest is not likely since inability to pay debts has not been a crime since the Colonies were formed.

    However, I would not count on the debts being extinguished by the statutes of limitations for there is an exception: If one flees a jurisdiction to avoid their debts, the statutes of limitations can be tolled.

    It is not likely they would sue in Europe as the debts were incurred in the U.S.

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  • AFFA
    replied
    Re: Unsecured personal loan and unpaid credt cards

    I wish to inform you that laws of a country will determine your rights. In this regard generally a lawsuit can be filed at your place of residence. Further each country has its statue of limitations thus debt may or may not be enforceable. Lastly majority of European countries do not treat debt default as criminal and hence only civil action can be taken but you may not be arrested.

    AFF

    Leave a comment:


  • Joann
    started a topic Unsecured personal loan and unpaid credt cards

    Unsecured personal loan and unpaid credt cards

    Hi, I opened an unsecured personal loan to cover my credit cards debts. I lost my job, I can't afforde to pay back the loan. I want to relocate in Europe. What the collectors can do to me? In order to sue me, they have to find my new address? Can they sue me in Europe? The loan will be on my credit for 7 yrs like the creit cards? Can they arrest me? Thank you
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