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Can a U.S. Creditor Collect a Debt or Sue You in Canada

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  • 08-02-2017, 09:20 PM
    Lusasha
    Can a U.S. Creditor Collect a Debt or Sue You in Canada
    My question involves collection proceedings in the State of: Nevada

    My husband and I were coerced into purchasing a timeshare which we can not afford. We were not given the information required to rescind our contract agreement, and so are past the rescission period. We cannot afford the payments and I've called asking them to just take the deeded property - we are prepared to give up our down payment and everything we've paid into it, we just can't afford to pay any more.

    If we walk away at this point, owing approximately 13,000 US, can they send debt collectors after us here in Canada, or take us to court? Will our credit be affected in Canada if we 'walk away'?
  • 08-03-2017, 12:29 PM
    Mr. Knowitall
    Re: Can a U.S. Creditor Collect a Debt or Sue You in Canada
    It is possible. For $13,000 it is unlikely.
  • 08-04-2017, 09:38 AM
    Lusasha
    Re: Can a U.S. Creditor Collect a Debt or Sue You in Canada
    Ok, thank you
  • 08-04-2017, 09:56 AM
    adjusterjack
    Re: Can a U.S. Creditor Collect a Debt or Sue You in Canada
    Quote:

    Quoting Lusasha
    View Post

    If we walk away at this point, owing approximately 13,000 US, can they send debt collectors after us here in Canada, or take us to court? Will our credit be affected in Canada if we 'walk away'?

    While a lawsuit for $13,000 might be unlikely now, the time share company certainly has the ability to turn the account over to a Canadian collection agency and get the default on your credit reports.

    Worse, your debt doesn't stop at the $13,000. It keeps growing with interest, late fees, annual fees and, eventually, attorney fees. When the debt gets big enough it could very well make a lawsuit worthwhile.

    So, no, you don't get to just "walk away." At least not without potentially serious financial consequences.

    I suggest you address your problem by googling "selling a time share" or "getting out of a time share."

    There are helpful resources all over the internet.
  • 08-08-2017, 05:46 PM
    Lusasha
    Re: Can a U.S. Creditor Collect a Debt or Sue You in Canada
    Ok, that'll definitely change how I tackle this. I have looked up selling a timeshare, and spoke with a company that does that, but they require it to be paid off first, and, there are timeshares out there selling for a dollar (apparently) to get out of the maintenance fees. Really a sad spot to be in, I'll keep looking.... thanks for your input.
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