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U.S. Permanent Resident Owes Money in Another Country

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  • 05-04-2011, 06:00 PM
    MJC
    U.S. Permanent Resident Owes Money in Another Country
    I am a new permanent US resident (Green Card) with a good USA credit score (around 7), under a US security number. I owe $22K as a personal loan to a Canadian bank (under a Canadian security number). I am still a Canadian citizen but I will never move back. I will apply for my US citizenship in 5 years when I am allowed to do so.

    I have been paying "interest only" for over 7 years and have never been late or behind in my payments. I don't think I will ever get to make this debt a priority with my money.

    What would happen if I decide to stop paying the interest or declare bankruptcy on my Canadian SSN? Would it affect my US SSN and credit score?

    Thanks for any input!
  • 05-05-2011, 05:58 AM
    Mr. Knowitall
    Re: U.S. Permanent Resident Owes Money in Another Country
    It is up to the Canadian bank whether they will attempt to sue you or otherwise collect in the U.S., or whether they take the effort to attach the Canadian debt to your U.S. credit history.
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