holly_1948

Federally guaranteed student loans that is, if memory serves.

I guess what is needed is the implications of filing bankruptcy in England when most of the debt is foreign. I can't see American debt not being discharged in bankruptcy in the UK (I could easily be wrong and always with a no-fraud caveat). Which means they could not get a judgment in an English court. Of course any assets in the US (except social security retirement income) could be seized.

A UK (E&W, S or NI) bankruptcy lawyer is needed, to advise. It may be that a UK bankruptcy is the only way to get Massachusetts alimony discharged
in bankruptcy. This is not something in which one can do their own lawyering.

holly_1948

If contemplating Chapter 7 bankruptcy, seeing a bankruptcy lawyer is crucial. First buy and read the book on Chapter 7 from "Nolo Press" however. Budget US$2000 for the lawyer. www.nolo.com

Beginning to end the process typically takes four to six months, however you do not have to be in the US during all that time. You do have to show up in person for the "creditors' meeting" (at which it is extremely rare that any creditors actually show up) roughly a month after filing.

Again a bankruptcy lawyer is essential in almost all international cases.
Filing bankruptcy less than a year after moving to Florida is very common, even more common after about six months. I suspect Florida has the most bankruptcy lawyers per capita of any US State, and with good reason.

Maybe we should start a bankruptcy thread(s) to separate out issues around bankruptcy for new UK returnees from bankruptcies overseas? Unless there is a FAQ already?

Britinsac

I agree. No one knows what kind of hardship has been suffered. People lose jobs, can't pay tax bills as they struggle to keep a roof over their head, become sick and run up huge medical bills, and then it can be really tough to avoid debt. It's a natural reaction when you get in deep to want to come home and get away from all the pain and misery of a life and dream that didn't work out the way you hoped. Please don't judge. We all have seen such terrible financial hardship here in the U.S. as our equity (that we put in to the house in the first place) dissolved before our eyes leaving us negative. A little compassion or forethought before condemnation is the order of the day.

dunroving

I really don't think anyone has been condemned in this thread. When the subject has come up in threads before, though, the responses have been pretty harsh.

However, one of the earlier posters hit the nail on the head - without at least some indication whether the debt is due to circumstances such as you described above, or simply deciding to skip town and leave owing your poor old landlady several thousand in back-rent, we can't assume in either direction.

From the sparse information and tone of the OP, the message read something along the lines of "Hey, I may need to return to the UK owing money - can I get away with it, or will I get caught?"

Unfortunately, many people get into debt through greed or profligate spending - in these circumstances, I have no compassion and feel I have a right to judge. With no moral compass at all, the world would go to hell in a handbasket. I'm afraid in a public forum, without at least some indication of the background, it's inevitable people will judge and make assumptions - it's human nature.

Britinsac

Yah I hear ya.. all sorts make a world. :-)

UK IFA

I haven't read any of the previous post but it would not be unusual for the debtors to pursue you.

(Interestingly I found out that the starting point is the people you name in the application form to be contacted in the case of an emergency).

Many companies sell the debt on, so credit agencies try and find you.

Of course if you apply for credit in the UK, they normally want to go over 3 years history and therefore could catch up with you in the UK.

Hope this helps.

kimilseung

Interesting that despite the agreement being between the lender and the borrower, many people blame defaulters for third party costs. Few ever complain about the lender being to blame for charging for other peoples services. It might be the way business operates, and naive to not assume that costs will not go up for others due to defaulting, but the lender took the risk on what proved to be a bad loan, blame them for the costs, its market forces, an agreement between service supplier and service demander.

I am not going to start blaming new arrivals to my state for putting up house prices, that my local plumber now needs more income to pay for his mortgage, that he now passes on to me in higher price to unblock my sink.

dunroving

Blame or not, the consumer ends up paying in the end.

Maltoo

OP, Were you a residential alien?

dunroving

I don't think he has been back since the day he posted.

Maltoo

yeah I think you are right, he seems to start threads and then disappear

Brigette

Or maybe the Op is just reading the responses and possibly is afraid of being flamed if he or she responds honestly. I could be wrong, but just a thought

WEBlue

He posted twice that day, the second time asking for advice, not opinions.

He's not a big poster, perhaps, and has started two threads in total, but on the other thread he posted many times. I don't think he can be rightfully judged as someone who starts threads then disappears.

I agree with Bridgette that he has no reason to feel this thread will give him much useful advice, whatever the personal reasons behind his seeking of it.

Maltoo

he posted once more than he did on this one for a total of 3. To me if you start a thread then just leave it then that is disappearing. I am not judging him/her just making an observation.

WEBlue

I don't think 3 posts on a thread of 10 posts is 'disappearing' at all. But I suppose it depends on your criteria for disappearing.

Since this thread went quickly off-topic and offered very little useful advice about moving away with foreign debt, and acquired lots of fairly judgemental posts as well as posts asking about his personal situation, I can understand why the OP decided not to post again.