Thanks to all the Memeber for all your replies, I appreciate more openions.

Well, I am concenred if the bank (whom i own the Line of credit) follows me in India, is it possible ?

I will be coming to US down the line for work, will this impact my entry in USA ?

Thanks once again, for the prompt response.

thanks

Simply defaulting on your debt is not a crime. If failing to pay your debts equaled prison time then half the people you know would be in jail

Jail terms are the result of a criminal trial. Creditors are taking action in a civil trial, which leads to a judgment or a garnishment order, but not jail.

A collection agency representative might comment “if you don’t start making payments on this we can take you to court and put you in jail

Your options

File bankruptcy (an often nightmare).

Ignore it

Your creditors collection division calls you daily to try and talk you into making a payment. After a year or two they give up on the phone calls and letters. It’s a lot of trouble and expense for them to sue you, so normally they won’t bother unless they figure they can get some money out of you. Its a lengthy process


Leaving to India and not coming back here will not affect you. since you have mot made it here in 3 Yrs dont come back to canada as there is nothing much to look forward here later.

Also coming to US has no impact.

All the best. Hope your situations gets sorted out.
It is a warning / wake up call to all the immigrants struggling in Canada and also for people in India who think that in Canada, often you get liquid gold running on the taps,
It is a struggle in Canada guys (unless you are in IT or in some financial services jobs)
Peace

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I am a Gents and not a Ladies.

I am worried, as mentioned by Sr. members, the collection people will call me and contact me in India.

I am wondering, will they will be able to locate my contact details/ address in India and call me everyday ? is this possible ?

thaks for your responses.

Nope!

Collection agencies do not cross border to get the money unless it is multimillion $ scam. In that case also, collection agencies in foreign countries are hired to do the job Do you think that the bank will spend money to track you. It is not worth it for their time and money.

i am afraid, once the banks gives my case to the collection agency, they may try to follow me in India and harras me with regualr calls with the help of local collection agency.

suggestions welcome

Hi,

This is our personal experience. We were in middle east and we cleared everything before coming here. But some how there was one cable company they came up with the story that we did not pay the bill. Although we had all the proof they called couple of times back home and as well as here.

We had to fax them everything and then they were convinced. This was just a cable company but this issue is with bank. Just think twice before you go.

I agree with Sridhram as well.