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Moving overseas -- still have debt -- HELP!!

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    Moving overseas -- still have debt -- HELP!!

    Hi!

    I'm engaged to be married next year in America, and I plan to move there as soon as my Visa is cleared (I'm Australian.) I've managed to consolidate my credit card and bank/car loans so I've got $10,000 owing with my bank.

    Where do I go from here?! Can I move overseas and continue to pay off my debt from there? Do I need liquid cash for my move or is it more important to get this paid off first? Finally, I was wondering if banks ever "settle" a debt for an amount that is lower than what is owed (ie: if someone cannot pay it off). I doubt I'll be earning a huge wage overseas, and I'll be in New York where rent is exorbitant to say the least!!

    Any help/advice would be GREATLY appreciated!

    #2
    Congratulations on your engagement! Are you coming to the States on a K-1 visa? (Been there, done that, got the t-shirt. )

    I recommend posting your question over in the USA forum on BritishExpats.com. You don't have to be British to join or participate (I'm not). There are BE members who have been around for 10+ years and are very knowledgeable about this kind of stuff from an expat's perspective. You might also want to check out the Marriage-Based Visas forum, too. Great bunch of people.

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      #3
      I don't see why you couldn't. Just make sure to move all your payments to an online account.

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        #4
        what happens if you just bail on the debt?

        how does this work for a dual citizen Canadian | USA person?

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          #5
          Try Not To Settle, Could Be Bad Long Term

          Normally if you settle debts early and come to an agreement with a creditor is will destroy your credit rating if for some reason you need to head back. If possible try and leave a bit of cash in your home bank. So you do not have to send money on a monthly basis. Itís a difficult situation

          Godd Luck

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