Question

Hi Jon,

I need some advice on some accounts I left unpaid in America. I lived there for 5 years, but moved back to Scotland just recently when the travel restrictions were lifted. I owe about $10,000 in the US, a couple of credit cards, and a loan I took out. I am now in arrears with all the accounts by 1 month. I cannot afford to pay them any longer as I am not working yet, and am unsure when I will get back to work. I am concerned if the banks there in the US will chase me for payment here in Scotland.

Regards,

Ian

Answer

Ian,

Have you advised those you owe in America that you have moved and cannot afford to repay the debts?

That may be a good starting point. Your creditors there in the US may not be able to offer any assistance, as the rules and laws there to aid account holder are not as easy or good as they are here in the UK.

If your creditors in the US attempt to chase you for payment and try to collect the accounts, there is really nothing they can do as they have no authority here in the UK (Scotland).

If your creditors there sell or assign the accounts to a collection agency here in the UK, the accounts can be collected here, but they must be collected in accord with the rules and laws here in the UK. This also affords you the debt management and insolvency options we have here in the UK/Scotland to include the accounts.

I hope this helps.

Regards,

Jon

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