So my coworker has a $24k car loan, a $60k loan with only $7k left, and a $3k credit card balance. He has always planned to move back to Mexico. He’s here legally, same with his wife and kids, but he’s wondering what happens if he leaves without paying off the debt. He doesn’t plan on coming back. What should he expect?
Probably nothing. The debt will get sold off, then written off when no one collects. It’s not worth the cost of chasing after him.
Shaye said:
Probably nothing. The debt will get sold off, then written off when no one collects. It’s not worth the cost of chasing after him.
Tell that to TJ Maxx… they’re trying to sue me for a $600 credit card overpayment.
@Bay
Are you still in the US, though?
@Bay
Just change your address to 15 Yemen Road, Yemen.
@Bay
I bet if you ran to Mexico, you’d get away with it.
Wynn said:
@Bay
I bet if you ran to Mexico, you’d get away with it.
I bet if he ran to Scotland, he’d get away with it Mexico-free.
Wynn said:
@Bay
I bet if you ran to Mexico, you’d get away with it.
I bet if he ran to Scotland, he’d get away with it Mexico-free.
I bet if he ran away free, he’d get Scott Mexico’d.
Shaye said:
Probably nothing. The debt will get sold off, then written off when no one collects. It’s not worth the cost of chasing after him.
I know a few people who did this, nothing happened to them.
Shaye said:
Probably nothing. The debt will get sold off, then written off when no one collects. It’s not worth the cost of chasing after him.
Not true.
Technically, creditors can sue him in the US and try to collect in Mexico, but it’s expensive and usually not worth it for small debts.
If he leaves the car behind, the bank might just sell it and move on. If he takes it, things could get more complicated.
@Nuri
Nah, it’s a civil matter, not criminal. The debt won’t follow him to Mexico.
I work in finance at a dealership near the border. This happens all the time.
Drew said:
@Nuri
Nah, it’s a civil matter, not criminal. The debt won’t follow him to Mexico.
I work in finance at a dealership near the border. This happens all the time.
Wait, so theoretically, my partner and I could max out our $300k credit lines, cash everything out, and leave the country… and nothing happens?
Drew said:
@Nuri
Nah, it’s a civil matter, not criminal. The debt won’t follow him to Mexico.
I work in finance at a dealership near the border. This happens all the time.
Not saying it’s ethical, but yeah, unless there’s fraud involved, nothing really happens.
@Nuri
Sounds like civil matters don’t really cross borders.
Corey said:
@Nuri
Sounds like civil matters don’t really cross borders.
Technically, a US civil judgment can be enforced in Mexico, but it’s a hassle and costly.
Drew said:
@Nuri
Nah, it’s a civil matter, not criminal. The debt won’t follow him to Mexico.
I work in finance at a dealership near the border. This happens all the time.
If he takes the car with him, that could be grand theft auto. The bank owns it, and if they report it stolen, he could have problems.
@Noor
Having a lien on it doesn’t mean the bank owns it.
@Noor
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