If you move countries, do your loans follow you?
Okay, this is probably a stupid question. Partner and I are looking at moving out of the country (USA) next year. Both of us have personal loans, will we still be able to pay on those loans (obviously with the change in currency) or what happens with that situation?
- 3 weeks ago
I moved to France and this is my experience with loans... Your loans will not be forgiven but only in America. in the new country you reside, the credit rating will "reset" and you will be given a new opportunity at life. Canadians do this all of the time in America. They recreate their credit score, learning from their past mistakes and failures. More homeowners in America are Canadian or Foreign than actual Americans. The extradition treaty only applies to criminals and fugitives fleeing the country to escape a crime, the government would have to cross several legal barriers to investigate and capture a criminal. Debt is not a federal crime, the extradition treaty isn't even applicable to debt lol Edward Snowden was able to move to russia and escape american corruption because the extradition treaty with Russia doesn't apply. it only applies to certain federal crimes and it's at the discretion of the political entities who run and govern the state. So America does NOT control everything :D
- Anonymous1 month ago
Bruh you gotta move to a country that doesn't have an extradition treaty with the US.Source(s): Lol
- MSLv 72 months ago
Yes, you can and should continue to make your loan payments from wherever you live. Your bank can help you identify the best way to go about doing so.
- Spock (rhp)Lv 72 months ago
you do not get a free pass and your debts will not be cancelled. payments continue as normal. of course, you may discover that, as much as you think you'd like to, the target country of your dreams doesn't want you.
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- dripLv 72 months ago
Your loans (car, house, student loans, credit cards) follow you where ever you live.
You can still make payments from another country. Talk to your bank if you don’t understand how.
- okiknowitLv 72 months ago
Depending on the country, they may or may not be able to sue you there and get that country to bring you to court.
However, as long as you are making the payments, it does not matter that you are not in the US. Your loan is in good standing.