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

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 … Read more

Lenders Salivating to Load Up Young Chinese Consumers With Debt

China Daily is reporting “Major consumer credit companies say they are highly confident about the growth potential of China’s consumer finance market, and plan to further expand their customer base in the mainland, mainly to those clients with middle and low incomes as well as rural residents. China’s consumer finance products target customers who are … Read more

I’m British With UAE Debt But Living in China. – Aaron

“Dear Steve, I am a UK national and recently left the UAE after working for 18 months, due to Emitarisation, which made my position incredibly unstable and other personal matters, leaving me with the prospect of imprisonment for none payment of debt. I left the country with debt in the Region of AED 600k, to … Read more

FTC Gives APEC Cross-Border Privacy Rules Thumbs Up For Consumer Information Protection

Yesterday, President Obama and representatives from other Asia-Pacific Economic Cooperation (APEC) economies met to discuss consumer cross-border data privacy protection at a meeting in Honolulu, Hawaii. The meeting focused on the APEC Cross-Border Privacy Rules, a new initiative to harmonize safe data sharing across country borders and enhance the protection of consumer data that moves … Read more

In China, Credit Card Debt Enslaves. Anyone Surprised?

It isn’t a big shock to find out that the credit craze and panic is exploding around the world. The credit craze and panic works like this: Stage One: Craze – apply and get approved for credit and go crazy racking up the balance. Stage Two: Panic – after you’ve expended your credit resources you … Read more

I’m Living in China and Having Problems With Capital One. What Should I Do? – Christina

“Dear Steve, I opened a Capital One card in September 2005 in order to have an emergency card while I was on a trip to China. The card never arrived in time and from December 2005 onward (before I even used any charges on the card!) I repeatedly asked to close the account. After much … Read more

In China, Pay Your Credit Card Bills or Get Hustled Off to The Bank

In China, it's pay up … or else Seattle Times, United States – 41 minutes ago Since then, he has pared his overall credit card debt to $2900. "I am so ashamed," Deng said. "I have no face to meet my father. When I look back, …