If it's a global company. They can still come after you. If you apply for a Visa or MC. It may haunt you there also. After all the charge offs and possibly judgements after you leave. Then add the IRS if you ever return for income tax from the charge offs. You'd be in a world of hurt. You could say us BK'ers do the same thing almost. But it is legal and was put in place for a fresh start from past mistakes. You could file and leave fresh. But as above. If you apply for a major card back home. It may show up on the network.
@Anonymous wrote:Thanks @FireMedic1 - As I say I've never been one to run away from responsibillities or liabiities, but I'm realizing I've been sinking deeper and deeper into this debt, as I attempt to tred water, make all payments etc.
In terms of the IRS - Whatever route i end up going down, I'd certinaly always make sure my taxes are filed compleltely. Though I hear charge-off's of any debt are then classified as taxable Income to me - unsure how big of an impact that wouldl cause.
Yes when a CCC charges off. They notify the IRS and its like getting paid from an employer. You have to pay taxes on the amount CO'ed. If your not here. Depending on the amount. They could place a tax lien. But then they would have no address to send it too. So it goes beyond what I know from here.
Really interested to hear your story about Bankruptcy. Unfortunatly I dont think I qualify for Chapter 7 (whille I'm employed); Interested to see if Chapter 13 could help, but unsure how this would improve my situation. My salary is relativelly good; however the extautionate cost of llliving, rent, higher taxes in NY significantly trip away any ellement of disposables income, certainly after all credit card mayments have been made.
Suppose one final question - If i leave the US and my Job so ZERO income here; however start a new job at some point in the UK; From a US Bankruptcy perspective - Would my income be Zero, or are they able to include intra-jurisdictional income /assests?
Thank you, I realy appreciatre all your help!
I wont answer what I am not experienced at. Maybe RobertEG will see this and he can tell you more of the legal BK and overseas residency and filing before leaving or if your already back in the UK and finish the BK. This doesn't come up here. Never seen this situation here really at all. Either way Good Luck!