How can one shield foreign assets during a bankruptcy? I have been living away from the US but have returned home from time to time. I am still a resident of Missouri for tax purposes, drivers license, permanent address etc. problem is I accumulated some foreign assets and don't want to surrender them. Can I get away with not declaring them? How far is the reach of US creditors? Can they sell my loans to local collectors in another country? Will I be able to show my US bank account only or will they be able to find my foreign account? I owe big and bucks and there's no way I can pay not with student loans over 70K (curently in deferment but forever!) and credit card debts over 100K. I have two children I am paying for here as well. My salary is very low only about 1000 US per month. I want to go Chap 7 and walk away from everything. I want to keep enough protedcted to still have a good life in my new country. Should I forget about filing and just try to hold the dogs at bay? I am not yet in arrears but fear thats right around the corner.
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Yes, the rest of us would like to "live the good life" here or in another country also...............but we pay for our mistakes and misfortunes.
Hiding assets to "save your GOOD LIFE in another country" ???? And you want the Forum to tell you "how to do it" - DUH...
You gotta be kidding us!!!!
That's not what this forum is about.
MinnyMinny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different. -
Yeah, wrong way to ask the question.Comment
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