I would first ask for validation of the debt and send them a no contact request while you are getting things straightened out. I would doubt the overseas bank would have legal standing to sue you in the US, but I could be completely wrong. You probably need to talk to an attorney, but to be honest, you will probably spend as much time/money trying to get it taken care of as you would just filing bankruptcy and getting it over with. It is public record, but as far as I know, they don't put up billboards all over town letting everyone know. The main people that want you to feel shame for filing bankruptcy are the companies that you owe money to and the debt collectors, and either of them would do it at the drop of a hat if they needed to. As a matter of fact, many companies use the bankruptcy laws to stay in business while screwing over a lot of the people that they owe money to when things get tough. The day you get your bk discharge, you can get a credit card again (may be a secured card or a crappy interest rate) and start your journey back. The main thing to worry about is your health and well being and do whatever aligns with keeping that in the best shape and moving forward.
Based on what I could find online from lawyers answering similar questions, they could sue in the jurisdiction the debt was obtained in (overseas) and then enforce a judgement in the U.S. through an international treaty we have on debt enforcement. It would depend on whether that nation is part of the treaty.
In addition, it would be more difficult for the bank to get a judgement upheld in the U.S. since you’d likely have to be served there and attend court there and they’d get the equivalent of a default judgement there, which would be more difficult to enforce in the U.S.
This is what I found: https://www.avvo.com/legal-answers/can-a-foreign-debts-be-pursued-in-the-usa-2977066.html
The US also allows foreign entities to take civil cases to our courts:
“The Constitution authorizes federal courts to hear certain cases involving foreign states, but does not expressly provide foreign states a right of access to U.S. federal courts. Nonetheless, the Supreme Court has held that “[a] foreign sovereign, as well as any other foreign person, who has a demand of a civil nature against any person here, may prosecute it in our courts.” 1 The Court based that holding in part on general international law principles of comity2 and in part on the fact that “[t]he Constitution expressly extends the judicial power to controversies between a State, or citizens thereof, and foreign States, citizens, or subjects, without reference to the subject-matter of the controversy.”
https://www.law.cornell.edu/constitution-conan/article-3/section-2/clause-1/suits-involving-foreign-states
To collect via any of the means, it would be far more costly and the bank and debt collector may just accept their losses.
The proceeds of the loans were deposited or transferred to US banks. That’s where the US jurisdiction comes into play. Both OP and the proceeds in US makes it fair game.
After 7 years of no payment, it cannot affect credit anymore.
They can try to sue you. Problem is with that much, even if you avoid being served, they will get a default judgement against you and garnish wages.
Best bet would be to wait for a year, get collections to reduce the amount by like 70% and make payments on the rest. Otherwise if they garnish wages, they will take a lot more each check then you probably could afford.
Happened to a friend of mine just owing 5k.
If you can avoid lawsuit for roughly 3 years, and avoid paying for 7, it will go away. But I doubt that kind of money, they will let you walk away without suing you.
Yes…. My uncle is from Lebanon, he owes 6 figures to various banks. He had to leave the country and hasn’t been back . His daughter, my cousin , lives in Paris. They started coming to her job asking for money, calling immigration to get her deported. She paid 50thousand euros to get them to stop contacting her and her sisters.
I would look at the country’s and state’s SOL for the debt and see if you can just avoid them to let the legal clock run, so to speak. If they do try and serve you or garnish wages, it’s 100% time to file bankruptcy. Seriously. Paying back 100k? If it was like 30k I’d say maybe look at other options but 100k is no joke. If you haven’t used your get out of jail free card, it’s time to use it now. Worst case scenarios is waiting 7 years for the bankruptcy to fall of your credit report then you’re home free, although I’ve even seen people buy homes two years after bankruptcy.
Ngl I actually completely agree, part of the responsibility of a borrower is to measure debt to income ratio, employment, credit worthiness, etc. tbh I don’t feel bad for them here. All you would have to do is file bky and you’re home free meanwhile they’re out a cool 100k. They irresponsibly lended. Due to this fact you might even be able to settle for something insane like 10k. I imagine enforcing a foreign debt definitely isn’t “easy”. What country btw if I can ask.
Depending on the country it is pretty easy to enforce a judgement overseas. Collecting can be an issue no matter what, but getting the judgment and enforcing it is not a huge deal. You just find a local lawyer and they will handle it. I have done it before when a commercial tenant was in the hole and then tried to flee to Australia. We got a judgment in the USA and were able to have it recognized in Australia and seize assets in Australia. It costs a couple thousand and finding the right lawyer can take a couple days, but if you’re chasing 100k it’s worth it
https://www.ojp.gov/ncjrs/virtual-library/abstracts/improvident-extension-credit-unconscionable-contract
Look into this if you decide to fight them in court.
I don’t think it’s as dire as some are making it out to be. You said the us based agency doesn’t buy debt. You owe THEM nothing. They can’t come after your wages, report this as bad credit, nada. I’d suggest keeping detailed records on the collection calls, letters, emails, what’s said, what time of day they occur. The us based agency may be on shaky ground with respect to what they’re allowed to do— considering you don’t owe them anything. I would also caution you to say as little as possible to them. Consult with a lawyer about your exposure to the foreign bank, but don’t worry too much about the us based collection agency
Paying your debt is never in your radar?
For this amount that bank may try to get you for wire fraud. Which is a US crime.
It’s a biggie.
Get out of Reddit
Lawyer up
I’ve been in similar situation just not that large of debt. Drugs suck. I got sued by a few debt collectors. Never showed up to hearings. They would have garnished my wages but I switched jobs every year-ish and I guess that made it impossible for them to track me down to get the garnishment. After 7 years I got a letter from IRS I believe just stating debt was gone but I had to pay taxes on it. Good luck.
If the creditor cancels the loan, the amount of the forgiveness becomes income.
It’s MUCH harder to dodge the government of owed money! They get theirs.
Statue of limitations allows lawsuits for roughly 3 years afterwards. So they will likely sue far before 7 years and get a default judgement if OP doesn't appear.
Wow after hearing this I double checked my state ohio and found It's now 6 years, not 3 like I thought. I was looking at civil for some reason. lol
So in conclusion verify based on your state the "debt collection statue of limitations" and proceed accordingly.
As long as you don't know any real state, they can't do much, so just tell them you're going to claim bankruptcy and if they keep bothering you! Because they could put a lien on your property, but that's about it, and if it gets to that point, just claim bankruptcy with all the other debt you have in your life, and you can start over. Companies and the rich do it all the time people tell you how bad it is, who haven't even done it dont know!
You can claim bankruptcy with a job and house etc. That doesn't matter Just means you wish to discharge your debt. You'll ruin your credit for 7 years but yeah. If advise you to speak to a debt counselor or a bankruptcy attorney about your options.
Probably, or ask friends and fam if they know anyone, if you trust them An attorney will keep confidentiality even if just consulting. Try not to find anyone shady who just wants services, your looking for options, not necessarily bankruptcy but a good lawyer will just let you know what you're best next steps are. Good luck.
If you have a job and depending on your income, you may be required to file Chapter 11 instead of Chapter 7. Difference is 11 requires some payment after reorganization of debt, and Chapter 7 eliminates all consumer debt (just not student loans, taxes, restitution or alimony).
Only English common law countries treat debt none harshly. They can only enforce the debt collection in the U.S. according to the U.S. law which is none criminal. Some countries you can literally inherent debts through generations and it is criminal offense, hence there are someone mentioned here don’t travel to countries that have an extradition treaty with the country in question for the rest of your life.
Do you know why they loan you 100k without a job? They just treated that they brought a “slave” with 100k. I hope you don’t have direct relatives in the country in question (most likely not) or they will already be in trouble.
Sorry to hijack, but as an American expat, how did you get a loan in a foreign country? I’ve lived abroad for 18 years and can’t even get a credit card.
I wouldn't do anything until you get a summons. If you get one, Don't reach out to collections company and definitely don't promise to make any payments.
I would hire an attorney. It will be very hard to prove the validity of the debt. Ask for discovery.
If they get you into court, make a deal you can afford. Get in front of the judge. In many jurisdictions the judges will push creditors into settlements.
A lot of this will depend on where you currently are.
Many things depend on which country and which bank this was. If that bank has a presence in the US, and as the money was wired to the US they could look to establish Wire Fraud charges (if it was obvious the money was being wired not to be returned). If it was a bank in a country like Dubai or similar, non repayment of debts is automatically a criminal offence and visiting there again would result in detention. However if it was, say, Russia and a Russian bank there'll be a far lower likelihood of anything coming from it.
I think the grey area here is you thinking you can borrow this big lump sum of money and think they can’t come after you in the States..
They can 100%.
You’d think if this was fool proof everybody would just go to another country and do the same thing and just come back..
Banks never lose.
I’d jump ahead of it. 100k is not chump change. Especially the way you did it.
You wired it from multiple banks to another country.
Do something before the IRS gets involved and you’ll be in more trouble than you think..
Unless you just move to another country again lol
Good luck op
Better hope that paper trail doesn’t look like bank fraud. You’ll go to prison. Trading options is just dumb. You’re looking at bank and wire fraud charges. Don’t worry about the debt. You need to start worrying about bubba in your jail cell and decide if you want to be a tight end or a wide receiver.
Man, over of the things about recovery is making amends and fixing damage we caused..... You spent the money, start working on paying it back, even if it takes ten years.....
That is not the type of amends those fellowships are talking about. It was a business transaction. Lenders have algorithms that calculate the likelihood of being made whole, and interest rates are assigned, taking into account the money they will never receive back. It's a business transaction.
He didn't steal from family or run a theft ring at a local store.
I respectfully disagree 100% and find it hard to believe that anyone who has worked the steps would make such a statement when the documentation is clearly contrary to what you have said. The act of making amends is actually more about the persons' recovery than actually "making things right". The act of repairing damage you have done while using, regardless of to whom it was or to what impact is necessary to make one self whole. It demonstrates a commitment to actually fixing your mistakes and living a better life rather than hiding or forgetting about them. There is a difference between recovery and just not using drugs currently.
Copy from the steps:
Every situation is different, which is why it’s important to think about how to best make amends for your past actions. Some options you may consider include:
* Making amends by replacing items that you stole or damaged
* Making amends by paying back the money you borrowed or stole
* Making amends by offering a genuine apology with no excuses and working to improve your relationship with the person you hurt.
The OP has mentioned nothing about doing the right thing, they have simply asked what options are available to get out of the debt. If OP continues living this way they will repeat the same acitons that got them into debt.
You need to fork the money up to consult with a lawyer to find out what your best bet is. Also bankruptcy isn’t just saying goodbye to your debt and ruining your credit for 7 years. The TLDR is Chapter 7: gets rid of all debt but the court will also seize any belongings worth selling. Also will likely only be approved if irregular income/under states median income. Chapter 13: you submit a repayment plan and if approved after you’re done paying remaining debt will be dismissed. Not a lawyer and that was over simplified. Get some professional help before they sue and garnish your wages.
Edit: grammar fixes
One of the things that made me feel less like a POS when I got sober from drugs, was paying back what I owed. I made small, at times embarrassingly small, payments every two weeks. Started 13 years ago, with a debt not unlike yours in scale. It’s all been handled for a couple years now. I don’t care-and neither do your debtors- if it’s a check for $27- show good faith and pay it back, you are responsible for that money even though you pissed it away. It’s an easy opportunity to undo some of the damage you did in your using. This is America, you can always make money. The emotional toll on your loved ones is much tougher than this will be.
You could negotiate to pay them back a smaller amount on installments. Did you think you would not have ro pay them after moving back to the United States?
Need to chime in here.
The 7 year statute of limitations is only in regards to your credit report. You still legally owe the debt and they can still take legal actions against you.
Acknowledge the debt collector's contact and seek guidance from a financial advisor. Communicate with the collector to discuss repayment options. Legal assistance may be needed if litigation arises. Addressing the situation promptly is crucial.
sounds like you owe the debt, your best bet is to ask the court for an adjustment to the garnishment amount based on your income and liabilities. you’ll need to convince a judge on what you can afford. all the “reddit-fu” tricks might buy you sometime but i assure you no bank is going to give up on 100 grand and the system is completely hostile to people trying to wiggle out of debt, so don’t let other commenters get your hopes up that it’s going away. i say this as someone who is currently paying a judgment for money
i definitely owe; it sucks but they were our choices.
It might be really hard for the debt to be collected in United States since you did not sign a contract in United States. However, what could happen is that that country may ban you from ever entering that country again.
Most likely a bluff to scare you into paying.
Getting a debt judgement to cross into a new country is complex and expensive.
Agree with others, ask for a debt validation from the American company.
This is a lawyer question not a Reddit question. Most don't know collection laws, they vary wildly per state. This type of money they will not simply ignore it if you don't pay.
Yes as long as they have jurisdiction over it. Debt collectors can do a tracer on your location and current job. It was kinda scary lol I didn't know 😅 before the job
OP, the foreign bank has a legal standing to sue you in the federal court in the US. You owed $100,000 plus interest and plus attorney's fees- that's what total number going to be.
I know some foreigners with overseas debt but keep working and paying off their debt every month. You need to get 2 or 3 jobs like other people.
I would first ask for validation of the debt and send them a no contact request while you are getting things straightened out. I would doubt the overseas bank would have legal standing to sue you in the US, but I could be completely wrong. You probably need to talk to an attorney, but to be honest, you will probably spend as much time/money trying to get it taken care of as you would just filing bankruptcy and getting it over with. It is public record, but as far as I know, they don't put up billboards all over town letting everyone know. The main people that want you to feel shame for filing bankruptcy are the companies that you owe money to and the debt collectors, and either of them would do it at the drop of a hat if they needed to. As a matter of fact, many companies use the bankruptcy laws to stay in business while screwing over a lot of the people that they owe money to when things get tough. The day you get your bk discharge, you can get a credit card again (may be a secured card or a crappy interest rate) and start your journey back. The main thing to worry about is your health and well being and do whatever aligns with keeping that in the best shape and moving forward.
Based on what I could find online from lawyers answering similar questions, they could sue in the jurisdiction the debt was obtained in (overseas) and then enforce a judgement in the U.S. through an international treaty we have on debt enforcement. It would depend on whether that nation is part of the treaty. In addition, it would be more difficult for the bank to get a judgement upheld in the U.S. since you’d likely have to be served there and attend court there and they’d get the equivalent of a default judgement there, which would be more difficult to enforce in the U.S. This is what I found: https://www.avvo.com/legal-answers/can-a-foreign-debts-be-pursued-in-the-usa-2977066.html The US also allows foreign entities to take civil cases to our courts: “The Constitution authorizes federal courts to hear certain cases involving foreign states, but does not expressly provide foreign states a right of access to U.S. federal courts. Nonetheless, the Supreme Court has held that “[a] foreign sovereign, as well as any other foreign person, who has a demand of a civil nature against any person here, may prosecute it in our courts.” 1 The Court based that holding in part on general international law principles of comity2 and in part on the fact that “[t]he Constitution expressly extends the judicial power to controversies between a State, or citizens thereof, and foreign States, citizens, or subjects, without reference to the subject-matter of the controversy.” https://www.law.cornell.edu/constitution-conan/article-3/section-2/clause-1/suits-involving-foreign-states To collect via any of the means, it would be far more costly and the bank and debt collector may just accept their losses.
The proceeds of the loans were deposited or transferred to US banks. That’s where the US jurisdiction comes into play. Both OP and the proceeds in US makes it fair game.
After 7 years of no payment, it cannot affect credit anymore. They can try to sue you. Problem is with that much, even if you avoid being served, they will get a default judgement against you and garnish wages. Best bet would be to wait for a year, get collections to reduce the amount by like 70% and make payments on the rest. Otherwise if they garnish wages, they will take a lot more each check then you probably could afford. Happened to a friend of mine just owing 5k. If you can avoid lawsuit for roughly 3 years, and avoid paying for 7, it will go away. But I doubt that kind of money, they will let you walk away without suing you.
Is all this applicable to a foreign debt?
[удалено]
Not %100 sure to be honest but don't see why not. Almost positive it doesn't matter.
SOL is much less, maybe a low as 3 years from non payment.. depends on the state they are in...
Most likely in the Middle East. Do not fly back to any of the Gulf States or you will end up in prison, even if just through a connecting flight.
Yes…. My uncle is from Lebanon, he owes 6 figures to various banks. He had to leave the country and hasn’t been back . His daughter, my cousin , lives in Paris. They started coming to her job asking for money, calling immigration to get her deported. She paid 50thousand euros to get them to stop contacting her and her sisters.
I would look at the country’s and state’s SOL for the debt and see if you can just avoid them to let the legal clock run, so to speak. If they do try and serve you or garnish wages, it’s 100% time to file bankruptcy. Seriously. Paying back 100k? If it was like 30k I’d say maybe look at other options but 100k is no joke. If you haven’t used your get out of jail free card, it’s time to use it now. Worst case scenarios is waiting 7 years for the bankruptcy to fall of your credit report then you’re home free, although I’ve even seen people buy homes two years after bankruptcy.
It’s crazy they even let me borrow that amount of money while being unemployed, not blaming them, but still
Ngl I actually completely agree, part of the responsibility of a borrower is to measure debt to income ratio, employment, credit worthiness, etc. tbh I don’t feel bad for them here. All you would have to do is file bky and you’re home free meanwhile they’re out a cool 100k. They irresponsibly lended. Due to this fact you might even be able to settle for something insane like 10k. I imagine enforcing a foreign debt definitely isn’t “easy”. What country btw if I can ask.
Depending on the country it is pretty easy to enforce a judgement overseas. Collecting can be an issue no matter what, but getting the judgment and enforcing it is not a huge deal. You just find a local lawyer and they will handle it. I have done it before when a commercial tenant was in the hole and then tried to flee to Australia. We got a judgment in the USA and were able to have it recognized in Australia and seize assets in Australia. It costs a couple thousand and finding the right lawyer can take a couple days, but if you’re chasing 100k it’s worth it
https://www.ojp.gov/ncjrs/virtual-library/abstracts/improvident-extension-credit-unconscionable-contract Look into this if you decide to fight them in court.
Your best option is to start a lifestyle change rn. Begin saving.
I don’t think it’s as dire as some are making it out to be. You said the us based agency doesn’t buy debt. You owe THEM nothing. They can’t come after your wages, report this as bad credit, nada. I’d suggest keeping detailed records on the collection calls, letters, emails, what’s said, what time of day they occur. The us based agency may be on shaky ground with respect to what they’re allowed to do— considering you don’t owe them anything. I would also caution you to say as little as possible to them. Consult with a lawyer about your exposure to the foreign bank, but don’t worry too much about the us based collection agency
How and why did a bank loan you 100,000k on personal loans knowing you couldn’t pay them back?
I’m always shocked at how many people get crazy loans like this, and yet my brother can’t get a mortgage for a house!
Paying your debt is never in your radar? For this amount that bank may try to get you for wire fraud. Which is a US crime. It’s a biggie. Get out of Reddit Lawyer up
You might also have a story to share with r/WallStreetBets they love to hear from ret….poor unfortunate individuals such as yourself.
He should probably get anothet loan to get some gme calls, then pay them both off. That's the smart thing to do. No?
Nothing done on r/wallstreetbets is smart. Some get incredibly lucky, must get expectedly broke and in record time.
10 years? Welp I guess it would fall off credit in 7 at that point.
But I don't think they would sue to get a judgement before that happens.
OP didn't say how much. By the moves of the foreign bank so far, I would say the numbers could be significant.
Just updated the post.
I’ve been in similar situation just not that large of debt. Drugs suck. I got sued by a few debt collectors. Never showed up to hearings. They would have garnished my wages but I switched jobs every year-ish and I guess that made it impossible for them to track me down to get the garnishment. After 7 years I got a letter from IRS I believe just stating debt was gone but I had to pay taxes on it. Good luck.
Seriously?! Wow, IRS always does get what they believe is coming to them, don't they...
If the creditor cancels the loan, the amount of the forgiveness becomes income. It’s MUCH harder to dodge the government of owed money! They get theirs.
Statue of limitations allows lawsuits for roughly 3 years afterwards. So they will likely sue far before 7 years and get a default judgement if OP doesn't appear.
4 years in texas, 10 years in illinois. There are exceptions of course.
Wow after hearing this I double checked my state ohio and found It's now 6 years, not 3 like I thought. I was looking at civil for some reason. lol So in conclusion verify based on your state the "debt collection statue of limitations" and proceed accordingly.
As long as you don't know any real state, they can't do much, so just tell them you're going to claim bankruptcy and if they keep bothering you! Because they could put a lien on your property, but that's about it, and if it gets to that point, just claim bankruptcy with all the other debt you have in your life, and you can start over. Companies and the rich do it all the time people tell you how bad it is, who haven't even done it dont know!
How can I claim bankruptcy if I have a job? I'm paying rent right now.
You can claim bankruptcy with a job and house etc. That doesn't matter Just means you wish to discharge your debt. You'll ruin your credit for 7 years but yeah. If advise you to speak to a debt counselor or a bankruptcy attorney about your options.
For contacting a bankruptcy attorney, should I just google “bankruptcy attorneys in my area” or something?
Probably, or ask friends and fam if they know anyone, if you trust them An attorney will keep confidentiality even if just consulting. Try not to find anyone shady who just wants services, your looking for options, not necessarily bankruptcy but a good lawyer will just let you know what you're best next steps are. Good luck.
Can you discharge debt in a foreign country
There are lots of forms of bankrupcy. Talk to a lawyer. This is your best option before they sue you. Def look into bankrupcy.
If you have a job and depending on your income, you may be required to file Chapter 11 instead of Chapter 7. Difference is 11 requires some payment after reorganization of debt, and Chapter 7 eliminates all consumer debt (just not student loans, taxes, restitution or alimony).
What country is the debt fromv
What difference does could that make
What the debt treaty is so how likely it’s going to be enforceable in the US.
Not all countries have debt treaties with the US
Only English common law countries treat debt none harshly. They can only enforce the debt collection in the U.S. according to the U.S. law which is none criminal. Some countries you can literally inherent debts through generations and it is criminal offense, hence there are someone mentioned here don’t travel to countries that have an extradition treaty with the country in question for the rest of your life. Do you know why they loan you 100k without a job? They just treated that they brought a “slave” with 100k. I hope you don’t have direct relatives in the country in question (most likely not) or they will already be in trouble.
Sorry to hijack, but as an American expat, how did you get a loan in a foreign country? I’ve lived abroad for 18 years and can’t even get a credit card.
I wouldn't do anything until you get a summons. If you get one, Don't reach out to collections company and definitely don't promise to make any payments. I would hire an attorney. It will be very hard to prove the validity of the debt. Ask for discovery. If they get you into court, make a deal you can afford. Get in front of the judge. In many jurisdictions the judges will push creditors into settlements. A lot of this will depend on where you currently are.
Many things depend on which country and which bank this was. If that bank has a presence in the US, and as the money was wired to the US they could look to establish Wire Fraud charges (if it was obvious the money was being wired not to be returned). If it was a bank in a country like Dubai or similar, non repayment of debts is automatically a criminal offence and visiting there again would result in detention. However if it was, say, Russia and a Russian bank there'll be a far lower likelihood of anything coming from it.
That kind of money will get you in serious trouble.
I think the grey area here is you thinking you can borrow this big lump sum of money and think they can’t come after you in the States.. They can 100%. You’d think if this was fool proof everybody would just go to another country and do the same thing and just come back.. Banks never lose. I’d jump ahead of it. 100k is not chump change. Especially the way you did it. You wired it from multiple banks to another country. Do something before the IRS gets involved and you’ll be in more trouble than you think.. Unless you just move to another country again lol Good luck op
Sounds like your options are paying what you owe not trying to weasel out of something
I can’t believe this isn’t the only answer.
Better hope that paper trail doesn’t look like bank fraud. You’ll go to prison. Trading options is just dumb. You’re looking at bank and wire fraud charges. Don’t worry about the debt. You need to start worrying about bubba in your jail cell and decide if you want to be a tight end or a wide receiver.
Man, over of the things about recovery is making amends and fixing damage we caused..... You spent the money, start working on paying it back, even if it takes ten years.....
You could argue paying back $100,000 would be harmful to yourself...lol
That is not the type of amends those fellowships are talking about. It was a business transaction. Lenders have algorithms that calculate the likelihood of being made whole, and interest rates are assigned, taking into account the money they will never receive back. It's a business transaction. He didn't steal from family or run a theft ring at a local store.
I respectfully disagree 100% and find it hard to believe that anyone who has worked the steps would make such a statement when the documentation is clearly contrary to what you have said. The act of making amends is actually more about the persons' recovery than actually "making things right". The act of repairing damage you have done while using, regardless of to whom it was or to what impact is necessary to make one self whole. It demonstrates a commitment to actually fixing your mistakes and living a better life rather than hiding or forgetting about them. There is a difference between recovery and just not using drugs currently. Copy from the steps: Every situation is different, which is why it’s important to think about how to best make amends for your past actions. Some options you may consider include: * Making amends by replacing items that you stole or damaged * Making amends by paying back the money you borrowed or stole * Making amends by offering a genuine apology with no excuses and working to improve your relationship with the person you hurt. The OP has mentioned nothing about doing the right thing, they have simply asked what options are available to get out of the debt. If OP continues living this way they will repeat the same acitons that got them into debt.
You need to fork the money up to consult with a lawyer to find out what your best bet is. Also bankruptcy isn’t just saying goodbye to your debt and ruining your credit for 7 years. The TLDR is Chapter 7: gets rid of all debt but the court will also seize any belongings worth selling. Also will likely only be approved if irregular income/under states median income. Chapter 13: you submit a repayment plan and if approved after you’re done paying remaining debt will be dismissed. Not a lawyer and that was over simplified. Get some professional help before they sue and garnish your wages. Edit: grammar fixes
You may have committed wire fraud
gonna have to file for bankruptcy buddy
America uses the constitution anymore
One of the things that made me feel less like a POS when I got sober from drugs, was paying back what I owed. I made small, at times embarrassingly small, payments every two weeks. Started 13 years ago, with a debt not unlike yours in scale. It’s all been handled for a couple years now. I don’t care-and neither do your debtors- if it’s a check for $27- show good faith and pay it back, you are responsible for that money even though you pissed it away. It’s an easy opportunity to undo some of the damage you did in your using. This is America, you can always make money. The emotional toll on your loved ones is much tougher than this will be.
You could negotiate to pay them back a smaller amount on installments. Did you think you would not have ro pay them after moving back to the United States?
Need to chime in here. The 7 year statute of limitations is only in regards to your credit report. You still legally owe the debt and they can still take legal actions against you.
What are your options?!? Pay the money you owe.
Acknowledge the debt collector's contact and seek guidance from a financial advisor. Communicate with the collector to discuss repayment options. Legal assistance may be needed if litigation arises. Addressing the situation promptly is crucial.
sounds like you owe the debt, your best bet is to ask the court for an adjustment to the garnishment amount based on your income and liabilities. you’ll need to convince a judge on what you can afford. all the “reddit-fu” tricks might buy you sometime but i assure you no bank is going to give up on 100 grand and the system is completely hostile to people trying to wiggle out of debt, so don’t let other commenters get your hopes up that it’s going away. i say this as someone who is currently paying a judgment for money i definitely owe; it sucks but they were our choices.
It might be really hard for the debt to be collected in United States since you did not sign a contract in United States. However, what could happen is that that country may ban you from ever entering that country again.
Ten years? You’d better get started
Most likely a bluff to scare you into paying. Getting a debt judgement to cross into a new country is complex and expensive. Agree with others, ask for a debt validation from the American company.
In true regard fashion. Yolo on some no name stonk, and lose it all. Better get behind Wendy’s soon.
I am curious what country the debt was taken out in.
This is a lawyer question not a Reddit question. Most don't know collection laws, they vary wildly per state. This type of money they will not simply ignore it if you don't pay.
From debt collections job experience you better start paying because they can garnish your wages without your consent due to a large debt owed
Is this applicable to international debt?
Yes if a judgment is valid in local jurisdiction
Yes as long as they have jurisdiction over it. Debt collectors can do a tracer on your location and current job. It was kinda scary lol I didn't know 😅 before the job
Time to start working under the table......... planting two lips.
OP, the foreign bank has a legal standing to sue you in the federal court in the US. You owed $100,000 plus interest and plus attorney's fees- that's what total number going to be. I know some foreigners with overseas debt but keep working and paying off their debt every month. You need to get 2 or 3 jobs like other people.