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Moving back home to USA, leaving behind Hong Kong and China Debt. Any consequences?

30 Sep 2009

30 Sep, 2009  Moving Home

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.

They will track you down. China might not, HK will as they have a very structured and stable banking system.

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8 Responses

  1. Scooby

    2009 Sep 30 1

    I seriously doubt it…….
    References :

  2. Caelin

    2009 Sep 30 2

    I heard about someone doing this a while back and they eventually got screwed over
    References :

  3. Cisco Kidd

    2009 Sep 30 3

    I think you’d be safe unless they send the ninjas…but that probably depends on how much you owe
    References :

  4. darkstaruav

    2009 Sep 30 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.
    References :

  5. ?AstrologerJuliAnne?

    2009 Sep 30 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.
    References :
    But, then again, who cares, right? It’s China..and they are trying to kill us off with their imported lead painted toys! LOL

  6. Brian O

    2009 Sep 30 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.
    References :
    they know you are a u.s. citizen, and you probally gave them your social security number…

  7. dreamfool

    2009 Sep 30 7

    They will track you down. China might not, HK will as they have a very structured and stable banking system.
    References :
    From HK

  8. Jonathan W

    2009 Sep 30 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.
    References :
    http://www.amlinkint.com


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