What is the name of your state? New Jersey
Hello.
I have a bit of a complicated situation. I live abroad, and I will continue to live abroad (though I occassionally come back to the US every year or two) I have the following debts:
$25,229 Direct Consolitdation Student Loan
$23,967 in Credit Card debt (on 7 cards)
$12,380 debt on a time share = a loan
I know that nothing will happen either way with the Direct Loan, but I am considering either claiming bankruptcy or simply not paying the Credit Card and time Share debt.
My problem is, I am overseas. So, I don't think there is any way for me to claim bankruptcy is there?
Second, if I simply don't pay them, and don't respond to the companies, and they (or the collection agency after them) takes me to court, I can't get there obviously being overseas, and then I'm a fugitive... What would happen then, would there be something like an arrest warrant out for my arrest, until something happened or what?
I have no property, except for a beaten up old sailboat that's stored in the middle of nowhere, back home. They can have that, it costs more to store than anything.
I am looking at this as a business decision, I mean, realistically, I could go back to America and work hard and be unhappy and pay it off, but I am simply interested in weighing the consequences and rewards for this.
I basically would take any money I have left and pay off my student loans (uncle sam wants his money) but I don't know if there's more to it that I dont' know.
I dont' plan on buying anything that requires credit soon (in next 5-10 years) I am sure that I could get a head start on repairing the credit via secured loans and credit cards, and the social stigma is not a concern, although they might call my folks a bit too much.
thanks in advance.
Hello.
I have a bit of a complicated situation. I live abroad, and I will continue to live abroad (though I occassionally come back to the US every year or two) I have the following debts:
$25,229 Direct Consolitdation Student Loan
$23,967 in Credit Card debt (on 7 cards)
$12,380 debt on a time share = a loan
I know that nothing will happen either way with the Direct Loan, but I am considering either claiming bankruptcy or simply not paying the Credit Card and time Share debt.
My problem is, I am overseas. So, I don't think there is any way for me to claim bankruptcy is there?
Second, if I simply don't pay them, and don't respond to the companies, and they (or the collection agency after them) takes me to court, I can't get there obviously being overseas, and then I'm a fugitive... What would happen then, would there be something like an arrest warrant out for my arrest, until something happened or what?
I have no property, except for a beaten up old sailboat that's stored in the middle of nowhere, back home. They can have that, it costs more to store than anything.
I am looking at this as a business decision, I mean, realistically, I could go back to America and work hard and be unhappy and pay it off, but I am simply interested in weighing the consequences and rewards for this.
I basically would take any money I have left and pay off my student loans (uncle sam wants his money) but I don't know if there's more to it that I dont' know.
I dont' plan on buying anything that requires credit soon (in next 5-10 years) I am sure that I could get a head start on repairing the credit via secured loans and credit cards, and the social stigma is not a concern, although they might call my folks a bit too much.
thanks in advance.