As resumption of educational debt repayment looms, more than 7 in 10 borrowers say they are taking on extra work, while half say they don't know whether they'll be able to make payments come October.
Depends on where you’re disappearing to, and how smart your lenders are – many countries cooperate with foreign debt enforcement.
In Sweden for example, a foreign lender can apply for debt enforcement with our national enforcement agency (Kronofogden). They then handle it the same as domestic debt by garnishing your wages or confiscating your property for example.
You can get on income-based repayment. You have no American income, so you pay nothing. Eventually the debt is cancelled, as long as you don’t move back.
I don’t think your debt disappears if you expatriate.
Banks hate this one simple trick.
it doesn’t go away but if you don’t come back it doesn’t really matter
Depends on where you’re disappearing to, and how smart your lenders are – many countries cooperate with foreign debt enforcement.
In Sweden for example, a foreign lender can apply for debt enforcement with our national enforcement agency (Kronofogden). They then handle it the same as domestic debt by garnishing your wages or confiscating your property for example.
Can’t garnish me or take my things if I expatriate and just become homeless. Checkmate government!
It does if you expatriate into ¡Gregorio Sanchez, Title Alligator Boxer Extraordinaire!
You can get on income-based repayment. You have no American income, so you pay nothing. Eventually the debt is cancelled, as long as you don’t move back.
Wow, I had no idea. See ya!