I have left usa and its been an year. I have 15000 in debts with cards and 12000 in personal loan left . I have paid all the amount i had in account. I cannot afford anything more. I have a plan of coming back to usa later.
1. Can i file for bankruptcy? I do not have a valid visa to come to usa if needed. I read initially i need to be there for a meet with the banks and i have to be present there. Please confirm?
2.What happens if i drop paying the bills and the loan.
I think you'll have to return to the US before you can file bankruptcy here. The rule set forth in 28 USC § 1408(1) is that you must reside in the jurisdiction in which you file for the greater part of the last 180 days, so basically you have to reside somewhere in the US for at least 91 days before you can file bankruptcy. Once you move back to the US and live somewhere there for 91 days, you could file bankruptcy there. You are required to appear for a meeting of creditors when you file bankruptcy. If you stop paying bills and the loan, then it's likely your creditors will try to sue you and may get judgments against you assuming they can properly serve you. The debts won't go away unless the statute of limitation passes (3 to 6 years depending on whether the debt is based on a written agreement), and even then you may have to assert the statute of limitation as a defense, although if you don't have substantial assets, you may be able to claim exemptions to prevent creditors from seizing assets. Plus, it can be just to difficult and expensive to try to collect a debt from a debtor living in another country, so who knows? Your second question is complicated by a lot of factors, including the fact that you live outside the US, so it's hard to say what might happen.
This answer does not constitute legal advice or the establishment of an attorney-client relationship.
Bankruptcy laws allow nearly anyone to file for bankruptcy as long as they live in or own property in the states. If you live abroad, you generally must own property located in the U.S. in order to file, such as land, a bank account or a vehicle.
If you stop paying your US debts, they will go into collection. You can be sued in absentia and a judgment can be entered against you. The judgment can be collected from any US-based income or assets you have, regardless of if or when you come back to the US. It would be best for you to try to arrange a plan to deal with your debts now so they do not snowball due to the effect of compound interest over time. Or, seek a consult with a bankruptcy attorney in your area so you can deal with your debts when you return to the US.
Disclaimer: As always, you get what you pay for. Be sure to talk to a qualified attorney in your area about your specific situation before you choose to rely on any information you get from internet discussion boards such as this one. I am a Michigan attorney and I do not give advice about state law other than Michigan law. If you live outside of Michigan the information presented here is based on federal law and general legal principles, and should not be construed as advice specific to your state's law.
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