I'm a USA citizen but currently living and working in Hong Kong until mid-summer. I have a few loans from Chinese banks, what happens if I move back home to the USA this summer and never return to China again and completely ignore all debt with the Chinese banks? I realize that I'll have trouble returning to China but I'm not planning on ever returning (as you know the USA and China's credit system are completely independent from each other). Thanks.
Personal Finance - 8 Answers
Random Answers, Critics, Comments, Opinions :
1 :
I seriously doubt it.......
2 :
I heard about someone doing this a while back and they eventually got screwed over
3 :
I think you'd be safe unless they send the ninjas...but that probably depends on how much you owe
4 :
A debt collection agency might track you down. The FBI would certainly investigate your case and you might be extradited (sent back via the gov) because not paying off debts is illegal. Just because you are moving from a country doesn't mean your debts are nullified. If you would like to spend 30 years in a Chinese prison, I would recommend you don't pay off those debts.
5 :
Well, then you will inherit the karma of someone ripping you off in the future. Character is how someone acts when they think no one will find out. You just pretty much laid out what your character is.
6 :
you are good to go! Banks are stupid, that's why so many people go around and legally rob them. I once made 500 grand by going to about 15 different countries and get loans that I never repaid. Dude are you kidding, they will find you and you will have to repay it. Unless you like to pay for everything in cash and don't plan on having any kind of loan ever again.
7 :
They will track you down. China might not, HK will as they have a very structured and stable banking system.
8 :
This is an very interesting. Legally, you are obligated to the debts. But depending on the amount of the debts, the creditors may or may not make their efforts to track you down. More and more Chinese banks go international. They team up with some collection agents in the States to take care of delinquency accounts. Now they are focusing on certain big accounts only.
