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Author: activeREinvestor Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 309250  
Subject: Re: Bankruptcy and property outside the U.S. Date: 6/1/2004 6:35 PM
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Not really.

Most ways for a lender to collect revolve around laws of a particular location.

The costs of pursuing a debt across boards is too expensive in most cases.

Most business practices at a credit card company have no way for dealing with such cross boarder situations.

So the practical answer is: No.

BTW - You will likely have to declare in the BK foreign assets and they might already show on a tax return. If you lie you are committing a crime (fraud). Such crimes can involve jail time is you are committing a criminal act (fraud). If you declare the assets but make the lender try to collect then you might find they give up (cost vs. reward for collecting).

If you want to own a home, go to FL, buy a home, declare a homestead exemption and then go BK.

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