I've recently had a lot of bad luck involving an auto accident, crooked insurance companies, and crooked lawyers. I've about had it! The thought of leaving the country has crossed my mind. I am a dual-citizen of the US and Canada. Here in the US I have debts including student loans (stafford, etc), "pay-day" loans, some credit debt, and federal / state tax debt. If I just up and left, would anyone be able to legally collect from me while I resided in Canada? If so, who? Also what debts would eventually be removed from my credit report (after 10 years for example)? Thanks in advance for any info that anyone can offer! Mark
If you leave the country I hope you don't plan on coming back because I believe that would allow for tolling. Which basically stops the SOL while you are out of the country. I could be wrong about this so wait for more responses but that is not how to deal with things. Running away doesn't make your problem go away. All it does is prolong it!
I do believe that all the major CRAs have representation in Canada. TU eloquently calls it "Global presence." Which is not to say that they will necessarily follow you there, but that they may have the capacity to do so. http://www.equifax.com/EFX_Canada/ http://www.experian.com/intl/canada.html http://www.transunion.com/content/page.jsp?id=/transunion/general/data/about/International.xml
Even if they have offices in Canada the CA's might not. The trick too would be to keep a low credit profile and not attract attention. I doubt they can collect, but they might be able to report it on your CRA in Canada. I've have heard the the SOL freezes while you're away. I would keep a mailing address in the US so they will think you're still there. I did this when I moved out of the US for a while and nobody knew it.
I didn't think student loans ever go away (were written off). Hypothetically, one could keep a p.o. box in the U.S. as a mailing address. Just remember NEVER to sign for a piece of registered mail if you get a card in your P.O. Box (it would probably be a summons).
