Legal Question in Credit and Debt Law in California
Can an American get away with overseas debt?
Let say an American has a few personal loan/credit cards debt from the oversea local banks and wish to leave the overseas country for good and go back to the US. What are the options of the overseas banks could do to collect their money back?
Asked on 6/06/13, 4:12 am
1 Answer from Attorneys
Robert F. Cohen
Law Office of Robert F. Cohen
The overseas creditor will have to weigh whether it's worth pursuing. It could get a judgment in the foreign country, open a case in the US and seek to enforce that judgment, along with accrued interest. One solution might be to arrange a payment plan before things escalate.
Answered on 6/06/13, 11:34 am
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