Recent content by Fred_BK

When does SOL time start ticking It doesn't make any sense that SOL stopss till you re-enter the country. This is because no body on this forum mentioned this is the law. Everybody only mentins that SOL starts ticking when there is no activity on your account.

Sol Yes, I was wrong in terms of Britain's policing and how they find out. But I was only providing ideas for the USA and the Statue of Limitation (SOL). If you are not able to file for bankruptcy, then remember SOL is one way to get out of debt...

Changing name helps Why don't you just change your name when you obtain your British Citizenship? This would make you eligible for the SOL and cancel all your debt. The judgment has a SOL of 10 years in California I think. So if your name changes, then this would make it harder for creditors to...

SOL for a CC judgement that was issued 20 years ago So if the summon is never received by me at all, then I am safe after the 6 years? If I don't do a proper change of address to a foreign country for example, then after 10 years when I enter the USA, thenI would be eligible to make use of the...

Do creditors usually sue within 6 years? So how could one make use of the SOL if there are summons in the 6 years? Also, is it very likely that a creditor sues within the 6 years?

What is the name of your state? NY If I get a summons because of a credit card company is trying to sue me but I do not respond to the summons order, and stay absent for 6 consecutive years, then could I still make use of the SOL? What if I never received a summons because of change of address...

DON"T mention it. Since you bough it in cash there is no way for a creditor to track it or mention it in court. Just don't mention it as an asset when you file BK. This is because it's worth nothing. If you can use the SOL since you are overseas, it's better. Bankruptcy can be communicated...

I am ignoring your loans in my response for now There is no such thing are getting arrested for not paying credit card debts. The worse thing a CC company can do happens when: 1) cc company Sues you 2) You have to be properly served a court order 3) You have to ignore going to court at the...

I am in the same situation I am in the same situation (https://forum.freeadvice.com/showthread.php?t=215227) except I could file BK anytime I want. Since you are like me (caring about business), I suggest that you try your best to restore a good credit rating in the USA. There is NO such...

Thank you Thank you. I think I might do what you mentioned. I know that Canada/Mexico is the worst-case scenario. I might choose a non-neighboring country since I am salesperson and travel often and have residence already established far away. But the idea of trying my best to pay some credit...

The ding is more influential in the USA is what u mean I think But this ding on my credit cards is not as visible like BK in foreign countries, right? BK is very standard and could be shared with Canadian money market easily because it's more standard procedure and a public record. On the...

Pay some, default on others. Compare to BK. “Back to your question about paying some CC and not others...no, that doesn't reset the SOL on the ones you don't pay. Each debt has its own DOLA and therefore SOL” It’s critical to know that resetting the time counter (for the 6 years SOL for NY)...

401K penalty "..but if you and others like you default on student loans, it makes it harder and harder for my kids to ever get it." I definitely do not want to default on Student Loans. I just do not want to be ignorant. This forum is so free I could say MANY things and feel comfortable!! I...

Student loan and SOL Hi Ladynred, What about Federal Student Loans (from the Dept. of Education)? Do you think the SOL also applies to them? I agree. 6 years is a long time. I am considering paying 2 of my credit cards off while totally ignoring others (including federal student loans) for 6...

Igonring your debt is better than CCCS!!!! The file on http://www.responsiblecredit.com/resources/documents/ is an eye-opener!! Thanks Ladynred. You should get the fee instead. It's better NOT to do anything regarding your debt rather than SEEK CCC. So now I WILL never go for CCCS and will...