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Can i large debt in the US be collected from me in Canada?

Date: Fri, 09/21/2012 - 17:52

Submitted by anonymous
on Fri, 09/21/2012 - 17:52

Posts: 202330 Credits: [Donate]

Total Replies: 8


Hello,
I have a large student loan in the US, $34 000, which I have defaulted on. After making the payments for a few years I was no longer able to afford them and called to see if alternate payments could be arranged. I was told no and that I must continue making the same monthly payments. I did what I could for a while but ultimately stopped making the payments. I am aware this debt is going to collection in the US. Can they do anything other than harass me as I am in Canada (a Canadian citizen, living here permanently). Is this amount a significant figure that would cause greater legal action towards me? Or as I am in Canada, and as long as I do not enter the US, am I okay?
Maria


International collections is becoming more and more common plus there is an agreement between Canada and the US. So since they know you are back in Canada they know where to look for you and sue you. I have heard of several being sued on in Canada and UK....private loans tend to be very agressive.


lrhall41

Submitted by SOAPLADY on Fri, 09/21/2012 - 18:24

( Posts: 17315 | Credits: )


Quote:

Have you given up your American citizenship?
Who said they were American?? Private loans are available to canadians in the US...although normally with a cosignor. I did forget to as the original poster if they had a cosignor.

You can be dual citizens...I am. I am Canadian by birth and became a US citizen a week ago. Under Canadian law I am and always will be a Canadian citizen.


lrhall41

Submitted by SOAPLADY on Sat, 09/22/2012 - 08:05

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Thanks for the response. What exactly does that mean, that they will sue me? What options do I have now. I don't have the money to pay off the loan in full, which is what they are requesting. I couldn't afford the payments to begin with. (It's not a private company fyi, it's Wells Fargo).

Maria


lrhall41

Submitted by anonymous on Sat, 09/22/2012 - 12:41

( Posts: 202330 | Credits: )


Oh, just saw the other response.
I am a Canadian citizen, who never held US residency. The loan was originally from a private company that was bought by Wells Fargo several years ago, and the payments I had been making were being made to Wells Fargo. Yes, I have a co-signer on the loan, also a Canadian citizen.


lrhall41

Submitted by anonymous on Sat, 09/22/2012 - 12:44

( Posts: 202330 | Credits: )