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    johnjames72's Avatar
    johnjames72 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 2, 2007, 12:21 PM
    US Student loans in Canada
    I am a US citizen, Canadian resident and because of living here I have lost my license to practice my profession in the US. So, I am thinking of stopping to pay my student loans. What can the US creditors do to me here in Canada? How can I protect myself? I am married to a Canadian and all our assets are shared. Can they do anything with shared assets.
    Lowtax4eva's Avatar
    Lowtax4eva Posts: 2,467, Reputation: 190
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    #2

    May 2, 2007, 12:27 PM
    They can sell the debt to a collection agency in Canada who can make marks on your credit report in Canada and sue (if they think it's worth it) your best to pay off the loan as you have been
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    May 2, 2007, 12:28 PM
    What does YOUR choice to live in Canada have to do with your legal debts? Why should Us taxpayers foot the bill for your default on your legal debts? You got the education. Now pay your bills!
    atlmiss's Avatar
    atlmiss Posts: 24, Reputation: 1
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    #4

    Jun 18, 2007, 09:59 PM
    Student loan debt won't ever go away! Its government debt. They will most likely find a way to get you in Canada, plus if you ever plan on living in the US again and your loan is in default they will garnish your wages and take your income tax returns! You never know what the future holds , you may end up back in the states at some point, so as the others say it's best to pay the man!

    This is from experience! I defaulted on my student loan because of unemployment and my own stupidity... and let me tell what a drag it is to have 25% of your wages taken each payday!
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