Living Abroad and Bankruptcy

If you have debt in the United States and you live outside the country, there are options you may have to relieve your financial burden. If you have real estate or bank accounts in the United States, judgments can be levied against you by federal or the state court where your assets reside. When you return to the United States, your debt and any judgments against you will be waiting for you.

Options

You have the option to file bankruptcy when you are still living abroad. You will file in the bankruptcy court where the majority of your assets are located. Another option is to file bankruptcy as soon as you return to the United States. Simply moving out of the country will not stop your creditors from pursuing payments if you have assets in the U.S.

Assets

If you do not have any assets in the United States, most creditors will not come after you overseas due to the expense. One of the biggest obstacles when filing bankruptcy is that you must be present in the U.S. to attend the meeting of the creditors. If you are in a neighboring country, it may not be too expensive, but if you have to travel many hours by plane, it may not be worth it to spend the money on airfare and lodging.

If you would like more information on whether or not to file bankruptcy if you live overseas, contact a Fort Worth bankruptcy attorney for advice on eliminating your debt.