Debt Was About 22k Us$?
Q: some questions on debt in the US from my friend: my friend worked in US with H1B visa for 6 years, he was laid off last month so he couldn't pay off the debts he made in the states, the debts include car load (about 15K US$), credit card outstanding balance (about 7K total). it's the worst time in his life so he decided to leave the states without any notification. the questions are: 1> what will banks/creditors do in his case? (alien worker lose job in the US and couldn't pay off and couldn't stick in the country for long due to visa issue) 2> any impact on his future life/work in his home country (india) if he just leaves the states without doing anything? 3> he got his canadian permanent residency years ago and he may move to canada, what will happen if he go there with those debts unpaid? 4> what could be best solution to make up all these? (looks he couldn't have any income to pay off at this time, and his H1B visa doesn't allow him to stay long after he was laid off) 5> practially, what will banks do if he just go away given his total debt was about 22K US$?
A: All your assumptions are based on IF THEY KNOW YOU ARE IN CANAD
A: I know many people on visitor visas here and get credit cards and run away and never pay the bills. If your balance is $1M, then you may run into trouble if you come back to the US again. Otherwise, just change your first name and apply for another SSN before you borrow again. It is pretty difficult for Americans to get a second SSN, but super easy for foreigners to get more than 1 SSN. Let me tell you an even more shocking truth. You don't even need a real SSN to apply for a credit, as long as the SSN is not used by anyone yet, then there is no such SSN/Name pair in credit report history. There are people who just type a random number to see if somebody's name will come up with this SSN. If not, they will apply for credit cards on this fake SSN, and keep it for several years to build a credit history then borrow big then gone. It is just one of the stories that not told to the public yet.
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