To recover a shortfall and/or costs of a repossession will banks generally pursue the debtor overseas?

-- peter shane (pjamesdean@earthlink.net), June 28, 2003

Answers

Peter,

I think the answer to your question is "Yes". I know that the overseas debt collection business is booming. There are now many international agreements in regard to this, particularly within Europe. Furthermore, in many cases debts are sold on to local debt collection agencies in the country concerned. Personally, I think it would be better to sort out any problem before one leaves, or at the very least check out the debt law of the country one is considering going to first.

Mark.

-- M Amos (idgroms@hotmail.com), June 28, 2003.