U.S. Debt when moving abroad

[benz111]

What is the name of your state? CA
Good afternoon,
I am an American citizen currently residing in the United States. Recently I lost my Job and am unable to find another one, my wife left to Australia to be with her family & now I am forced to move as well. I have close to $46K in credit card debt & the fact that I am moving to a new place prevents me from keeping current payments on my credit cards, thus, I will be falling into the default dilemma and its consequences. My question is as follows: Due to the high level of debt owed in the United States to different lenders, could the lenders chase me overseas & if so, what legal action can they take against me in Australia since we do have existing treaties with Australia. It is really frustrating, but I am out of options especially that I have a baby coming in a month. Would you please help me by answering my question?
Your explanation & recommendations are well appreciated.
Thank you & have a good day.

[FlyingRon]

Well at the least they could make getting credit even overseas much more difficult. The credit card lenders are multinational.

They can certainly pursue and win judgements against you and there exist a whole slew of international-specialized debt collection agencies. They certainly will go after any remaining US assets you have and if you're not here to defend them they will certainly go.

[StephenH]

1) I beleive the credit card companies could sue in a US or an Aussie court. I am not a laywer though.

2) I beleive they could make it harder for you to get credit cards or loans in AU.

3) If you really have $46,000 in debt that you cannot pay you may want to seek credit counseling, or even talk to an attorney about bankruptcy, and someone who specializes in international law.

4) If you will make enough salary in Australia, you may want to see if the creditors in question can accept Australian Currency, or if they have a payment center in Australia in which they could somehow transfer the account over to their divison down under.

[HappyHusband]

With the advent of the internet, you can make payments from anywhere in the world with just a few clicks of the mouse.


Just in case someone didn't know.