Debt and relocating to a foreign country

We had a car reposessed because my soon-to-be ex stopped making her payments. Now, they are wanting $11000 for the remaining balance. We also have two credit card bills and a cell phone bill totalling about $2500. I'm sick of fighting with creditors because of the bills she runs up (hence the divorce). I have an opportunity to go to a foreign country and stay there permanently (renouncing US citizenship). How do creditors handle it when someone leaves the country and becomes a foreign citizen? Is that amount worth pursuing someone to another country?

usually they will not pursue you unless the amount is quite large

you could of course also just declare bankruptcy??

[paul mcgreevy]

wow
my situation is very similar to yours,
i left the U.S. owing about 65k, and moved to canada
they know were i am
what do you think they will do?
can they go after my house up here?

They could sue you and then seek to collect. They have to go through the Canadian court first and you would be notified.

So how are the things ?? Have anyone pursed you? Did You have any problems or everything is allright??

Originally Posted by paul mcgreevy wow my situation is very similar to yours, i left the U.S. owing about 65k, and moved to canada they know were i am what do you think they will do? can they go after my house up here?

How in the world can you people sleep? You borrow money in good faith and then stick it to the company? You sound like a dead beat along with some other posters.

However, if you are in another Country the financial institutions are out of luck. The other post are on target.

Originally Posted by Unregistered How in the world can you people sleep? You borrow money in good faith and then stick it to the company? You sound like a dead beat along with some other posters. However, if you are in another Country the financial institutions are out of luck. The other post are on target.

I think your negative comments are out of place here, without knowing the facts of each case. yes there are some low life that abuse the system, but from my experience, Debt is sometimes a result of a bad situation that got worse, for example, a well paid job, person gets a loan for an expensive car, they loos the job, ie, no income, Return the car, but due to Tax and depreciation, Owe about 1/3 the value of the car to the bank, the bank then adds a massive fee on top. and its a downwards spiral. there are many scenarios, and leaving the country to get a job, to the debt, is no different than the debtor staying in the country with no job. Only difference is if they can get back into productive society, improve the world economy, and effectively contribute.
Banks and loan companies could help by offering, insurance in case of lost income, Loan freeze options, so that the debtor has a chance to get back to stable, there are many more things that could be done, but it just seems, they want to push everything to bankruptcy, not to help, but just to write it of so they can get on with other business. I think there is some background business model that has requirements and procedures to follow until they can give up on collection, and Debt collection companies, are a law unto themselves.