The best way is to plan your return. One of my Pakistani friends explained me that when any of them decides to go back to Pakistan forever (after obtaining Citizenship so that in case of serious medical illness they can come back), they plan it meticulously. Amongst other things that they do, they obtain store credit cards like Wal mart, Brick etc. Then they take new immigrant to these stores, buy whatever they want on such credit cards and then collect anything between 50 to 80% in cash from them. They usually move to rented premises and stop paying rent six months before leaving, use lawyer known to them to ensure they are not thrown out for non payment of rent. They obtain all kinds of loans / line of credit etc. The last action is to withdraw cash on whatever credit cards they have and then leave. According to him, they usually leave debt of around 125 K.

I am just sharing a story that I heard from him. I do not suggest that you do the same. On the contrary, I believe that you should do your best to pay off the debt to the extent possible so as not to have moral compunction.

As suggested by other CDs, non payment of bank loan is not a crime and if you do not intend to come back to Canada for a few years, it is best to declare personal bankruptcy and leave.

Quote:

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Originally posted by Fido

Quote:

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Originally posted by trueman
the bank I own has operations in India as well.

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No kidding ..... ... I know its a typo but still ... worth a light moment .....

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Okay !

by the way what is the process of filing/ declare personal bankruptcy.

I have no idea how this works ?

Or is there a good lawyer who can is gueniune and get all the paper work done ?

How long does it take ? is there any sourght of risk involved in it ?

Bankruptcy is to be filed with a bankruprtcy lawyer's office. Fees is around $ 1600 payable in 7 or 8 installments. You will have a 9 month bankruptcy process time. Donot know if you can leave Canada during that period. Check with them. They are free to advise.
If you decide to stay in Canada for the 9 month bankruptcy process period, all your income must be reported and you will not be access any loan/credit card fund etc,,
Peace

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I am a Gents and not a Ladies.

The downside, as mentioned earlier, is that after declaring bankruptcy you will have a very low credit score for 7 years. This means you won't be able to take out new unsecured credit.

http://creditcanada.com/debt-solutions/consolidation-loans-consumer-proposal-bankruptcy

The organization Credit Canada may be able to help you deal with your debt. They are a charity and their services are free. I believe they are funded largely by banks though, so there may be a bias against bankruptcy. Still, their advice would be better than that of someone trying to sell you something. Even if you're leaving the country I suggest you try to deal with your debt. Go back to India if you prefer to live there, if you're just going to run away from your debt try to exhaust all possible avenues to manage that debt before giving up.

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My prayer to you
Is that you do all the things you set out to do
And live your life the way you love

Thurston Moore, Psychic Hearts

Pregnant mom in US arrested after forgetting to pay for eaten sandwich; state takes daughter

HONOLULU, Hawaii - Nicole Leszczynski couldn't imagine that two chicken salad sandwiches would land her and her husband in jail and her 2-year-old daughter in state custody. But it happened five days ago, when the 30-weeks-pregnant woman forgot to pay for her snack while shopping.

Leszczynski, 28, and her husband Marcin, 33, were handcuffed, searched then released on $50 bail each. Their ordeal at the police station lasted a few hours, but their daughter Zofia spent the night away from her parents in a case that has sparked nationwide outrage and forced the Safeway supermarket chain to review the incident. "It was the most ridiculous chain of events that happened," she said while sobbing Monday. "It's still hard to believe what happened."

The family had moved to an apartment near downtown Honolulu from California two weeks ago. Still settling in, they ventured out Wednesday to stock up on groceries, took the bus, got lost, and ended up at a Safeway supermarket. Famished, the former Air Force staff sergeant picked up the two sandwiches that together cost $5. She openly munched on one while they shopped, saving the wrapper to be scanned at the register later. But they forgot to pay for the sandwiches as they checked out with about $50 worth of groceries. "When the security guard questioned us, I was really embarrassed, I was horrified," she said. They were led upstairs, where the couple expected to get a lecture, pay for the sandwiches, and be allowed on their way. But store managers wouldn't allow them to pay for the sandwiches, she said. "I asked to talk to a manager and he said it was against their policy to pay for items that left the store," she said. "The security guard said we were being charged with shoplifting." Four hours later, a police officer arrived and read them their rights. A woman from the state Child Welfare Services arrived to take Zofia away.

The pregnant mother said she tried to keep her composure until Zofia, who turns 3 in December, left the store. "I didn't want Zofia to be scared because she's never spent a night away from us. She didn't have her stuffed animal. She didn't have her toothbrush." But as soon as her daughter left, "I got completely hysterical. I went to the bathroom and I threw up," she recalled. A police spokeswoman said it was procedure to call Child Welfare Services if a child is present when both parents are arrested. The store's management did not know the girl would be taken away, Houghton said.
The national supermarket chain said it was looking into the incident. "It was never our intent to separate a mother from her child. That was a very unfortunate consequence to this situation," said Susan Houghton, a spokeswoman for the California-based supermarket chain. "We understand the outrage. We are concerned about how this was handled." Leszczynski called the incident "so horrifying, it seemed to escalate and no one could say, 'this is too much.'"

The couple was handcuffed and driven separately to police headquarters a few blocks away, where they were searched, had their mug shots taken and then released after paying bail. A police officer escorted them back to the store — which banned them for a year, Leszczynski said — where they picked up their groceries and walked home just before midnight. "We basically stared at each other all night. We woke up at the crack of dawn and called (the state child welfare office)," Leszczynski said. While they waited, Leszczynski vented about the experience on babycenter.com and contacted a lawyer for help with being reunited with Zofia. At the lawyer's suggestion, they took their story to the media. Zofia was returned after an 18-hour separation from her parents. The couple is charged with fourth-degree theft, a petty misdemeanour, and has a court date on Nov. 28, according to the city prosecutor's office. The family hasn't decided whether it will pursue legal action against Safeway. Houghton said the company will review the police report and store security footage before deciding whether to press charges.

This happened just for $5 mistake and imagine for your $35,000. Law is a law and must be followed and respected. Every day the world is becoming closer and closer through internet and many employers are demanding credit check and criminal record. It is better to pay the debt and leave the country with a clean record.