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Yes, but you should also do the following:
1) First, obtain Dual Citizenship in the country you are emigrating to.
2) Liquidate and remove all assets from your native country to avoid possible
forfeiture by the Government, who will try to seize anything of value when
you default on your student loans. Also, obtain certified copies of all your
educational transcripts/diplomas from the original institutions you attended.
The Government may prevent you from getting these records after default.
3) Renounce the citizenship of your native country, and embrace your new
home.
4) You are now immune from debt collection on your unpaid student loans,
however you can never return to your native country without becoming
subject to collections again.
Sounds extreme, but financial freedom in Another Country is better than being a lifelong debt slave in the Land of the Free.
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∙ 13y ago
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Can a parent get out of a student loan if they can no longer work?
In some instances, a parent can get out of a student loan if they are unable to work. You can visit the Federal Student Aid website for information about discharge of debt.
How do you discharge a civil judgment?
The same way you discharge any debt in a bankruptcy. Unless it involves fraud of the kind that is not dischargeable., or is for a debt that is not dischargeable.
Can you discharge your car in bankruptcy?
You can't discharge a car or any other asset. You can only discharge a debt (money owed).
Who can file a lien on property after a bankruptcy discharge?
No one. Liens can only arise on valid debts. They can be statutory (such as a mechanics lien) or judicial ( a judgment lien). However, bankruptcy discharges the underlying debt, unless the debt was one not subject to discharge (such as taxes of a student loan). These creditors can pursue these debts, receive a judgment and enforce collection through a judgment lien.
What would be the best thing for a college student in credit card debt to do?
The best thing for a college student in credit card debt to do is to contact a debt consolidation company to help workout a payment plan that the student can afford.
Student loan debt for a college graduate?
Is this a question? Are you asking the average amount? Some but not all have student loan debt after graduation.
Is student loan debt consolidation something that will save money in the long run?
Student loan debt consolidation is a way to consolidate student loan debt to the point that money is put in a synthetic grace period to prevent interest.
What is mean by Debt and Bankruptcy?
Debt is what you owe others for money the lent you expecting to be repaid by you. Bankruptcy is a federal legal court system that allows debtors to get a discharge, which prevents creditors from taking any action to collect the debt. It does not prohibit you from repaying the debts as and when you can after the discharge. Some loans cannot be discharged, such as student loans and child support arrears. Secured loans (mortgages, car loans, etc.) must either be reaffirmed or the collateral surrendered to the creditor
How can creditors size a tax refund check one year after filing chapter 7 bankruptcy?
The answer depends on who the creditor is and the status of the debt. If the debt was a student loan or other non-dischargable debt, then your tax refund can be taken. If the debt WAS discharged, ANY collection action of any kind on a discharged debt is a violation of the permanent injunction of the discharge and therefore illegal. If the creditor was not included on the creditor matrix, then informing them of the bankruptcy and discharge of the debt may be all that is necessary to have the refund returned to you. In other cases it may be necessary to file a Motion for Contempt against the creditor in bankruptcy court. This would require the re-opening of the bankruptcy.
Can you use your Stafford student loan to pay off debt?
No, you cannot use a Stafford student loan to pay off personal debt. The only debt that should be paid off with an educational Stafford loan is your college debt.
What does discharge of a debt mean when it is not associated with bankruptcy does it mean the debtor is fullt released from the obligation to repay the debt?
Yes, if a debt is discharged the debtor no longer has to pay.
What is the average debt of a student loan?
Not sure of average individual student loan, but the average student with student loans has $28,000.
