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  1. #1
    Join Date
    Aug 2011
    Posts
    2

    Default Collection of Foreign Based Debt

    My question involves collection proceedings in the State of: NY

    I am a foreign national who is married to an American citizen. I have been unemployed since 2009 and I currently take care of my young son while my wife works full time. I have defaulted on a loan that was under my name in an Bank in my country as I could no longer afford to make the repayments earlier this year. The Bank has now transferred the loan to a US based collection agency. I have received a letter stating that I must repay the amount owing in full within 30 days. I am unable meet this demand as I am still unemployed.

    Can you please tell me what my rights are?

    What actions can a debt collection agency take after 30 days?

    Does the collect agency have the legal right to collect this debt as it is acting on behalf of a foreign bank?

    Can the collection agency legally take action against my wife even though the debt is not hers and is originating in another country?

    What advice can you offer me in terms of my options?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Collection of Foreign Based Debt

    Your rights are to pay your debt, or not pay your debt and see what happens.

    If your creditor has a collection firm working to collect your debt in the U.S., they can take whatever steps they are authorized to take, from basic collection through litigation. There's no reason a foreign creditor cannot seek to enforce your debt in the U.S.

    You've not given us any reason to believe that the creditor is pursuing or could pursue your spouse in the U.S.

    Your options are to pay what you owe, try to negotiate a smaller payoff (and perhaps a payment plan) or to continue to default and see what they do.

  3. #3
    Join Date
    Aug 2011
    Posts
    2

    Default Re: Collection of Foreign Based Debt

    Thank you. All I have received at the moment is written notification that the entire debt is due for payment within 30 days along with three phone calls from the agency requesting that I call him.

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