Unpaid Credit Card Bill In South Korea
This is a discussion on Unpaid Credit Card Bill In South Korea within the Debt Collection forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; I used to work in South Korea and I had a Korean credit card, I left Korea and continued to ...
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Jul 5th, 2012, 08:58 AM
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#1 |
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Unpaid Credit Card Bill In South Korea
I used to work in South Korea and I had a Korean credit card, I left Korea and continued to make payments for over a year on my credit card debt. Eventually, I became unemployed and was unable to pay the debt anymore. I would like to pay it off or file for bankruptcy. I have been planning to go back to Korea to live and that is why I continued to make payments for almost 16 months after leaving Korea. Would I be stopped by immigration over this when I enter Korea again? How should I deal with this. I wonder if a non-Korean can file for bankruptcy in Korea.
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Jul 5th, 2012, 12:20 PM
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#2 |
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Top Level Member
 
Join Date: Dec 2009
Posts: 12,553
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Re: Unpaid Credit Card Bill In South Korea
I wish to inform you that you can go to Korea. If however you enter Korea then credit card company can put restrictions on your leaving Korea without paying debt and can enforce debt. If you are not a resident of Korea then you cannot file bankruptcy in Korea. However under its new law DRBA various provisions have been made for cross border insolvency.
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