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Moving Out of the Country, and Can't Pay Loan

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  • 05-19-2011, 04:32 PM
    skarrlette
    Moving Out of the Country, and Can't Pay Loan
    My question involves collection proceedings in the State of: Massachusetts

    Hi I am getting married and moving to Brazil and not planning on coming back for a while maybe permantly. I have no assets I also have student loan debt. It is going to be impossible for me to pay it first off because I will not be working, second off even if I was working the exhange rate would make it double what I would normally have to pay. The Brazilian real is worth $1.60 against the dollar.

    What can I do? What will happen? Should I explain and fill out a form living overseas no job?

    What do people do in this situation when they are marrying someone and moving to there homeland and can prove it with a marriage certificate. Isn't it extenuating circumstances? I am not going to starve my family to pay a student loan. Or pay almost $400.00 when if I lived in the US it would be $200.00. Economically it just doesn't make sense.

    Thanks for any advice!
  • 05-21-2011, 05:49 AM
    Mr. Knowitall
    Re: Moving Out of the Country, and Can't Pay Loan
    It's up to your creditor to decide if it's worth trying to pursue you for the money you owe once you leave for another country. Moving won't make your debts go away, even if you tell the lender that your're broke.
  • 05-23-2011, 01:28 PM
    skarrlette
    Re: Moving Out of the Country, and Can't Pay Loan
    I am actually going to be pursuing this further with an attorney to see if something can be worked out.
    Thanks for help!
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