this post was submitted on 17 Aug 2023
222 points (97.0% liked)

Work Reform

10044 readers
580 users here now

A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

Our Goals

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 5 points 1 year ago (3 children)

I don’t think your debt disappears if you expatriate.

[–] glorious_albus 4 points 1 year ago

Banks hate this one simple trick.

[–] sturmblast 4 points 1 year ago (2 children)

it doesn't go away but if you don't come back it doesn't really matter

[–] [email protected] 4 points 1 year ago (1 children)

Depends on where you're disappearing to, and how smart your lenders are -- many countries cooperate with foreign debt enforcement.

In Sweden for example, a foreign lender can apply for debt enforcement with our national enforcement agency (Kronofogden). They then handle it the same as domestic debt by garnishing your wages or confiscating your property for example.

[–] [email protected] 2 points 1 year ago

Can’t garnish me or take my things if I expatriate and just become homeless. Checkmate government!

[–] HeyThisIsntTheYMCA 3 points 1 year ago

It does if you expatriate into ¡Gregorio Sanchez, Title Alligator Boxer Extraordinaire!

[–] [email protected] 2 points 1 year ago (1 children)

You can get on income-based repayment. You have no American income, so you pay nothing. Eventually the debt is cancelled, as long as you don't move back.

[–] [email protected] 2 points 1 year ago

Wow, I had no idea. See ya!