Subscribe to our mailing list

X

Will I Become the Subject of Debt Collection From Citibank and American Express in Hong Kong?

By on May 29, 2018

Question:

Dear Steve,

I recently moved back to the US after living in Hong Kong for several years. Got a personal loan and credit card loans from Citibank Hong Kong, Amex HK, and a local Chinese bank. Have left my accounts open and am currently making payments on loans per the agreements. These institutions have my passport number, my old hong kong address, but no social security number. Have now moved back to the US and used the proceeds from the above loans to start a new business, but it is not going well.

If I stop making payments on the loans and default, how likely is it that they will pursue me back in the US?

Ted

Answer:

Dear Ted,

There is a big gap between what a foreign bank may attempt and may be able to execute.

A bank located in Hong Kong or China may certainly attempt to collect by calling you or sending emails. They may even try to hire a U.S. based debt collector. However, this is rather rare.

According to the U.S. Department of State, “There is no bilateral treaty or multilateral convention in force between the United States and any other country on reciprocal recognition and enforcement of judgments.” They go on to say, “Under U.S. law, an individual seeking to enforce a foreign judgment, decree or order in this country must file suit before a competent court. The court will determine whether to give effect to the foreign judgment.” – Source

If you are contacted for collection on this money I would strongly advise you hire a local consumer attorney to advise you about the laws in your state and run interference for you with that collector.

If your business fails and you elect to file bankruptcy, make sure you include those debts in your bankruptcy to prevent any further action on those debts that can’t be envisioned at this point.

READ  What Happens if I Leave the U.S. and Can't Pay My Student Loans?

morehelp1
Choice1 Choice2 Choice3 Big Hug!
Get Out of Debt Guy - Twitter , G+ , Facebook
If you have a credit or debt question you'd like to ask just use the online form .

Last step, fill out the information below or call us for Priority Assistance.

What problems are you having with your report?

Your first name is required. Your first name is required to be at least 2 characters. Your first name cannot be longer than 50 characters.
Your last name is required. Your last name is required to be at least 2 characters. Your last name cannot be longer than 50 characters.
Your email is required.
Your phone is required. Your 10 digit phone number is required.
Your state is required.
Your age is required. Your age must be greater than 18. Your age must be less than 100.

By clicking on the "Contact Me" button above, you consent, acknowledge, and agree to the following: Our Terms of Use and Privacy Policy and to receive electronic communications. We take your privacy seriously. That you are providing express "written" consent for Debt.com or appropriate service provider(s) to call you (including through automated means; e.g. autodialing, text and pre-recorded messaging) via telephone, mobile device (including SMS and MMS - charges may apply), even if your telephone number is currently listed on any internal, corporate, state or federal Do-Not-Call list. Consent is not required as a condition to utilize Debt.com services and you are under no obligation to purchase anything.

By clicking on the “Contact me” button above, you consent, acknowledge, and agree to the following: (1)That you are providing express “written” consent for Lexington Law Firm, Debt.com or appropriate service provider(s) to call you (including through automated means; e.g. autodialing, text and pre-recorded messaging) via telephone, mobile device (including SMS and MMS – charges may apply), or dialed manually, at my residential or cellular number, even if your telephone number is currently listed on any internal, corporate, state or federal Do-Not-Call list; and (2)Lexington Law’s Privacy Policy and Terms of Use and Debt.com’s Terms of Use and Privacy Policy. Consent is not required as a condition to utilize Lexington Law or Debt.com services and you are under no obligation to purchase anything.

About Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

2 Comments

  1. Ted

    May 29, 2018 at 2:23 pm

    Question posted about debt from China in U.S.

    • Steve Rhode

      May 29, 2018 at 2:24 pm

      Thank you for your very interesting question.

Share a Comment / Leave a Reply

%d bloggers like this: