It can and often does. There are collections agencies that specialize in the collection of international debt. It is difficult, although, not impossible to outrun or hide from debt.
If you move from Canada to the US and have bad debt in Canada will it effect your credit in the US?
== == YES of course. Just because you moved doesn't wipe out your debts. They follow you wherever you go in the world.
The average consumer credit card debt is $15216 in the US. The average household owes $7,098 from on their cards. In total the US is owed $11.19 trillion in debt.
As your credit report may not follow you from the US to Canada, you can probably move there and become debt free. Moving back, thou, to the US may be difficult if you are trying to obtain credit as your credit report may have to be accessed and the unpaid accounts may show up.
Not all companies collect outside of the US, but when they do collect, collectors dont have any issue calling international
The majority of US debt is actually owed to US citizens.
Debt has no borders, so your debt will follow you around the world. Moving to Canada will make no difference.
Debt collectors in Canada can sue individuals in the US for debts owed. However, they must follow the appropriate legal procedures in the US and comply with the laws governing cross-border debt collection. It is advisable to seek legal guidance if you are facing a lawsuit from a Canadian debt collector in the US.
If you move from Canada to the US and have bad debt in Canada will it effect your credit in the US?
== == YES of course. Just because you moved doesn't wipe out your debts. They follow you wherever you go in the world.
The average consumer credit card debt is $15216 in the US. The average household owes $7,098 from on their cards. In total the US is owed $11.19 trillion in debt.
As your credit report may not follow you from the US to Canada, you can probably move there and become debt free. Moving back, thou, to the US may be difficult if you are trying to obtain credit as your credit report may have to be accessed and the unpaid accounts may show up.
yess
If no legal action is being taken against them and they have the money or ability to pay the debt then maybe. Each case needs to be looked at on it's own. He cannot use Canada to hide from his debt.
yes
Yes. Mexico's government debt can be broken down as follows:External debt: US$46,208.8 million.Domestic debt: US$192,218.7 million.Total Mexican debt: US$238,427.6 million.Most of it is owed to the 'developed nations', such as the United States, Japan, France, England or Spain.
Just by canceling debt owed by Mexico. It was 10 million in 1853 dollars.