chingwah

Settling debt you've left behind in the U.S.?

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Hello,

I'd be incredibly grateful to anyone could either answer this or point me towards a thread that will do so.

I've just moved back to the UK after a divorce with both my young children, and I've left behind around $20K in credit card debt in New York.

Up until now (arrived here June 1, it's now Aug 1) I've been making the minimum payments, but can't keep it up because of expenses here.

I still hold a job that's based in the US - I work as an graphic designer (independent contractor). That paycheck still gets deposited into a US bank once a month (Chase) and I then wire it over here.

Those are the basics of my circumstances - trying to keep it as concise as possible - my question is:

Does anyone know much about how it works when trying to settle debt from abroad - more specifically, the UK? I've been reading and it seems doable. I don't have any plans to move back there as we are here with my aging mother, enjoying the National Health (I was uninsured for years) and having family around (we were on our own in the US completely for about 5 years, and it was miserable)

From what I gather I need to close my US bank account and deposit my checks here.

Is it more likely that the creditors will arrange low settlements with me given that I am out of the country and it would be incredibly costly for them to chase me up, or am I mistaken there?

Thanks very much to anyone that can share their thoughts.

Frankie

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Guest usctrojanalum

To be honest if you never plan on coming back to the US I wouldnt settle off anything. That being said, definitely get rid of the US Bank account.

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but what about coming back for visits? that might well happen within the next couple of months because I have belongings in storage i need to contend with. I don't feel entirely good about blowing off the debt. Won't it bite me on the tush at some future time should things change and we do find ourselves back there? It seems incredibly unlikely, but I'm too old and wise now to say that it's an impossibility..

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so it would be sensible, i assume, to have the company i work for (on a 1099, self-employed) send my paychecks here to the UK so I can deposit them into my UK bank instead, and to clear out any money I have in savings over there? (total of about $1500, all being saved to cover UK taxes (my next fun thing to sort out).

But can "they" somehow seize my US paychecks before they mail them to me here in the UK? Will they contact my employer?

Anyone know? Thanks if you can shed any light here. I'm really clueless and don't want to do anything drastic without knowing the possible outcomes.

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But can "they" somehow seize my US paychecks before they mail them to me here in the UK? Will they contact my employer?

Generally, one can seize your checks without a court order (tax authorities can whenever they want).

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I would encourage you to settle this in some manner. I was in your position a few years ago. Things changed and it became better to live back in the USA. Then one day I get a call that Midland Funding has a default judgement against me and how would I like to pay? When I left I thought it was permanent..... but things change. So don't do what I did :roll: Get it handled somehow so it will not haunt you in the future. Good luck!

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Just got an email from my lawyer.....the atty. for midland funding has agreed to vacate the judgement. :D I'll post my story in the appropriate forum in a separate thread.

Just don't close any doors as you may want to go back someday.

Edited by Plowman
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that's great news Plowman! sorry for the delayed response, i only just logged back in here. may i ask the amount of your debt and how you found an attorney to settle for you? i'd like to do the same. i'm only just about to stop paying and i'd prefer to hire a professional to negotiate for me than do it myself, OR work with a debt settlement company. there's nothing but horror stories out there.

can i also ask how long the entire process took to settle, and why you think they vacated the judgement? did you try to settle, or just not pay? Any and all info you have time to divulge would be hugely appreciated. I don't want to do nothing! I know it will bite me one day - especially since i still work for a US based company and they could effectively seize my 1099 wages if it went to court. don't want that to happen!

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