[jimmy_v]

Originally Posted by KnowItAll

Claire - I think self-righteous is perhaps more appropriate.

The worst case scenario - well, depending on the amount, the default is reported to a credit agency that operates across borders. There are also agencies that will collect international debt.

KnowItAll,

Thanks for the reply. This is precisely the kind of information / input I was hoping for. I know that some people are going to think of me as a total dirtbag, but I'm in a financial jam and I don't think I'd be the first person in the history of credit to default on a debt.

But back to the international debt collector, do you know more about this? From what I've gathered, there really is no jurisdiction that the credit card company can leverage vis a vis where I am (i.e. any HK court orders, etc. are useless where I am living).

But the international debt collector, what can they do?

[PDLM]

The same as debt collectors anywhere - anything from sending you a polite letter to pointing a gun at your head, depending on how much you owe and where you are.

[Boris]

" But the international debt collector, what can they do? "

As you are intent on default then I should remind you that the credit card companies database will hold the information on the default and I would guess that its runs across borders in the modern global village we inhabit.

That being the case your credit score will take a hit and you may have trouble with your present cards or loans.

If someone says that won't happen then I'm off around the world to open a credit card ( as many as I can get ) in every country and max 'em all out at my leisure.

[emmie]

Am being totally "naive" here, BUT wondered... have you ever thought about working out an alternative PLAN... like getting yourself a decent enuff paid job in whatever country you're (hidding) in now, AND doing the best you can, e.g. by paying off most of the credit card debt; thereby, somewhat, minimalising the HUGE snowballing monthly interest + finance fees; thus, eventually, standing a chance in hell of settling all your outstanding dues?

Uh, but recall you mentioning more than one "legacy credit card" debt in your name, so the $ figure you're talking 'bout must be BIG; so, sorry, dunno there...

* But I do know that getting yourself "blacklisted", and later worrying about if/when you return to HK and need to open a HKD acct, might it all come back to bite you in the a*s, wouldn't be worth all this hassle you're considering now.

[jimbo]

Or alternatively get a consolidation loan and pay off all your debts.