ABOUT TO DEFAULT ON 40K.. READ @@

[Brighterfuture85]

Hello folks,

 

I was successful at getting all my credit cards to put me on a hardship program and lowered my payments and interest rate, I went through great lengths to get it done and I've been paying them on time.

 

My situation changed though and now I will have to leave the country to take care of my Father who is ill with cancer. I have no relatives or family here in the US and it is time for me to go back to my homeland and take care of my own.

 

I will be leaving at the end of the year by December or maybe sooner depending on dad's health.

 

So it doesn't make sense to me to keep paying on my cards.

 

Here is what I have:

 

BOA: 8k

Discover: 2k

Cap 1: 3k

Chase: 6k

Citicards: 15k

Heloc: 15k

Mtg: 108k

 

1) How long does it take them to start suing me after I Stop paying them?

2) Can they grant a default judgment if I am overseas? I guess I am asking if they can serve me even if they can't find me since I'll be 3k miles away and won't know anyways.

3) If I end up being served without being in the US and the default judgment is granted, I am better off attempting to file for BK instead of fixing the judgment correct?

4) Can you file BK 7 while you live overseas?

 

Any insight will be appreciated...

thanks folks!

[hegemony]

what would keep you from paying them while you are overseas?

 

are you walking away from the house?

[losartworks]

Paying is obviously the first choice if it can be managed. Do you intend to return to the US? If so, and you quit paying, you likely will return to some default judgments. Debt is debt. judgment or chargeoff are both going to hit the credit report the same way.

 

The only real point of a judgment in reality is if you have some attachable asset they can get to, then they will have that ability. If you are without assets, Some creditors will still get a judgment against you, but really... To What Avail?? Your credit card debt it not that big really. It would be a crap shoot if any would get a judgment against you. Perhaps others here who are more familiar can state with more knowledge which of your listed creditors would eventually get a judgment against you if you default.

 

if you are simply not going to be able to pay then I would BK. as far as when and how depends on many things. I am afraid I don't know if you can file from another country. As I recollect there is a required court appearance. Would be an easier go if you could BK.

[Cosmos Human]

I am sorry your father is ill. If you are still employed here you can get judgements against you and they can garnish wages and attach bank accounts. But, that takes time. If you are overseas there is not much they can do to you. You may want to get some legal advice. Lawyers usually will give you a free 30 minute consult. You can call several firms as well and get their opinion. Chapter 7 (if you pass means test) may be best, as it would erase debts, but you have a house...can you short sell it? I know its a crappy market right now.

 

What ever you do, don't mention where you are going. Creditors do read these boards....

[Brighterfuture85]

thank you guys for your replies.

I talked to a BK attorney and he said that they can't serve me with a summons if I can't be found. Well, I will be gone out of the country, so they won't be able to serve me.

 

I am afraid they will be shady and serve me or pretend they did and issue a default judgment and I will not know.

 

Have you heard this happen?

[ewitkows]

Well if they can't find you they can post it in the local newspaper and that will also work. Your better off working something out rather than skipping out on your debt.

[shootforthestars]

Peo0ple post on here all the time about having been served inappropriately but still getting judged against. Check out the "help I've been served section."

 

I think the real question is are you going to be gone from the USA longer than the statute of limitations.

[Brighterfuture85]

Peo0ple post on here all the time about having been served inappropriately but still getting judged against. Check out the "help I've been served section."

 

I think the real question is are you going to be gone from the USA longer than the statute of limitations.

 

that is a good question, I plan to return but who knows I may never return or return in a couple of years.

I have to be prepared to come back to judgments even though I wasn't here to be served. I might as well file ch 7 when I return.

[lakpr]

Peo0ple post on here all the time about having been served inappropriately but still getting judged against. Check out the "help I've been served section."

 

I think the real question is are you going to be gone from the USA longer than the statute of limitations.

 

The statute of limitations in any state is very explicit that being out of the country tolls the clock. In other words, the time one spends outside the country does **NOT** count towards determining if a debt is out of SOL.

[toopooor]

that is a good question, I plan to return but who knows I may never return or return in a couple of years.

I have to be prepared to come back to judgments even though I wasn't here to be served. I might as well file ch 7 when I return.

you'll be better off filing now - debts are tolled while you are gone and filing now and returning in 2 or 3 yrs gives you a head start to better credit. if you wait, it just adds more years and a worse looking CR. You'll come back to a cleaner slate...

[Brighterfuture85]

that is a good question, I plan to return but who knows I may never return or return in a couple of years.

I have to be prepared to come back to judgments even though I wasn't here to be served. I might as well file ch 7 when I return.

you'll be better off filing now - debts are tolled while you are gone and filing now and returning in 2 or 3 yrs gives you a head start to better credit. if you wait, it just adds more years and a worse looking CR. You'll come back to a cleaner slate...

 

You are correct my friend and that is the sole reason I wen to see the bk attorney. The problem is that I do have a little bit of cash that I want to take with me to start a new life you know and giving it up to the trustee to pay creditors doesnt pay them off completely and it will, in the end, hurt my credit the same way,. So I can't file before I leave or I lose the little I have left. It would have been a different story if the debt was all mine, but I helped the no ex-wife transfer her balancese with high interest rates and now it is my debt in my name only.. it hurts to think about paying that..

[MiikeB]

I am afraid they will be shady and serve me or pretend they did and issue a default judgment and I will not know.

 

Do you not think leaving the country without notifying them and with no intention of paying them isn't shady?

[cputrwz]

I was in a similar situation when I moved to Europe a few years ago. I had an upside down house and a fair amount of credit card debt. I had planned to pay my debts while I was overseas. I did not plan on returning to the US ever. I was moving to marry my now husband and to live in Europe where he is from.

 

I didn't want to keep my house but it was so upside down I could not sell it... the banks would not work with me. I consulted a lawyer on the matter and he actually told me to walk away and don't look back. He said if I was never coming back then to just walk away from all my debts.

 

I didn't do that however... I just couldn't bring myself to do that. I rented out my house at a loss and even with the renters I still had to pay 1000 a month.

 

Long story short, things in Europe did not work out. Apparently the country I was trying to move to did not like immigrants. I was laid off from my European job shortly after getting it and guess what you can't get unemployment in the US if you're laid off from a foreign country.

 

So, I moved back to the US with my husband with my tail between my legs and I'm really glad I did not just walk away from my debts because I HAD to come back. I was an illegal alien in the country I was in and they basically told me to go home. Needless to say I declared BK when I got back but I think it would have been a lot messier if I had just walked away from stuff. I was gone for over a year and it wouldn't have been as easy to get back into things here if I had done that.

[shadow2k]

It would have been a different story if the debt was all mine...

 

They are your debts. You put them on your cards, one way or another. Definitely yours.

[Brighterfuture85]

I was in a similar situation when I moved to Europe a few years ago. I had an upside down house and a fair amount of credit card debt. I had planned to pay my debts while I was overseas. I did not plan on returning to the US ever. I was moving to marry my now husband and to live in Europe where he is from.

 

I didn't want to keep my house but it was so upside down I could not sell it... the banks would not work with me. I consulted a lawyer on the matter and he actually told me to walk away and don't look back. He said if I was never coming back then to just walk away from all my debts.

 

I didn't do that however... I just couldn't bring myself to do that. I rented out my house at a loss and even with the renters I still had to pay 1000 a month.

 

Long story short, things in Europe did not work out. Apparently the country I was trying to move to did not like immigrants. I was laid off from my European job shortly after getting it and guess what you can't get unemployment in the US if you're laid off from a foreign country.

 

So, I moved back to the US with my husband with my tail between my legs and I'm really glad I did not just walk away from my debts because I HAD to come back. I was an illegal alien in the country I was in and they basically told me to go home. Needless to say I declared BK when I got back but I think it would have been a lot messier if I had just walked away from stuff. I was gone for over a year and it wouldn't have been as easy to get back into things here if I had done that.

 

thank you for your input.. I might have to come back just to file bk.. I won't have problems staying overseas.., i have no family here.. i got divorced last year and that was the end of my ties here. My wife left me with 30k of credit card debt that I paid off to help her, now that we are not together she won't pay it back and I am screwed.

I might try to short sale the house, but then there is a deficiency Im responsible for. THe BK lawyer said that foreclosure would be better because there is no liability to me after it forecloses.

[hegemony]

I am afraid they will be shady and serve me or pretend they did and issue a default judgment and I will not know.

 

Do you not think leaving the country without notifying them and with no intention of paying them isn't shady?

interesting first post []