Students Escape Loans Overseas

Originally posted by marg6043
So that means that once this students leave the US they will never be able to comeback, no even to visit their parents and I thought this only happens with refugees of dictatorships and communist countries.

.. There is no reason to not come back every once in a while. Not like the banks that loaned the money will send a team of special forces to kill you on sigh at the airport. (yet)

I wouldn't advise actually "moving back" though.

reply to post by Rockpuck


I disagree, rockpuck. If you owe significant bank to the IRS (which you will if you don't keep paying on your new income for a decade), they may arrest you if you come legally. And if you DO pay IRS but not your loans, I think the banks would notice that.

IRS and banks cooperate to "collect," so they would definitely figure out where you are......

But now I see your point. Nonpayment of IRS is a criminal matter, while nonpayment of a loan is civil unless they can get a judget to rule it fraud.....

so you're probably right, unless they find a way to precipitate a criminal cause against you. I'd probably have a cop friend run a criminal history on me, before entering the US for a weekend with the folks, just in case.

.

Originally posted by marg6043
So that means that once this students leave the US they will never be able to comeback, no even to visit their parents and I thought this only happens with refugees of dictatorships and communist countries.

Uh, you are actually in a communist and/or a dictatorship country, you just don't know it yet.

reply to post by dr_strangecraft


Not paying your bills or loans has nothing to do with the IRS (yet) ..

So the government won't ban your entry (yet) ..

And lobbyist have not had enough power (yet) to get Congress to pass a bill to demand international countries send people with huge amounts debt back home (yet).

And so far international banks could give a hoot whether or not someone in their country owes a bank money.. we are not tied together (yet).. and there is not international credit rating (yet).

Originally posted by dr_strangecraft
One thing to remember is not your student loan collectors, but the IRS.

If you leave the USA and repudiate your citizenship, the new law says you are still AUTOMATICALLY a citizen for 10 years from the date you repudiate.

In other words, you owe taxes on all income, even income earned in your new home (and taxed by your new ruler). So if you ever DO want to return to the US, you'll be looking at tax, penalties, interest and fines. Hence, possible jail time.

Holy crap you can't escape from the government even if you want to. The federal reserves dog (IRS) will hunt you down and kill you. They might as well kill you and throw your body into the sea.

I wonder if the IRS has visions of death squads going on seek and destroy missions worldwide hunting down transgressors.

NO forgiveness, take NO prisoners. Fly the black flag IRS, fly the black flag.

[edit on 29-10-2008 by In nothing we trust]

Originally posted by In nothing we trust

Holy crap you can't escape from the government even if you want to. The federal reserves dog (IRS) will hunt you down and kill you. They might as well kill you and throw your body into the sea.

Nothing doing. It's obvious you could never work for the IRS. Because, to paraphrase Black Bart.....


Dead men pay no bills.

Originally posted by Rockpuck
reply to post by dr_strangecraft

 

And lobbyist have not had enough power (yet) to get Congress to pass a bill to demand international countries send people with huge amounts debt back home (yet).

That is because most of the corporate corruption in America are tax evaders, they will be shooting themselves

All those caiman Islands banks account will be in jeopardy.

reply to post by disgustedbyhumanity


WOW. This is, I'm sure, just the sort of disaster that happens every day to students. Tfhe loan programs are a means to ensure we sell ouselves into debt servitude for life and, of course, we must do this if we want any hope of escaping lower or middle class lifestyles. Ridiculous. Screw them.

As an aside, income earned abroad up to about $80,000 USD is not taxable in the US. One still must technically file every april but, interestingly, if one has no liability, I do not believe there exists a deadline to file taxes.

Im on boar with leaving the countr. I went to law school, graduated 3d in my class and scored on the top 5 percent of the bar exam. But after five years practicing law, I can't find a decent job. I was a public defender for a few years, but of course that paid nothing. Moving up to a high paying job just hasn't worked out. So I decided to hang out my own shignle, well of course that didnt work. Well it has made enough tp pay the rent, but I had to default on my loans to do it. Now the bank has hit me with massive penalties which push the loan up to levels that are absurd. I treid to redeem my default, but the company just screwed me over and added 30,000 dollars in penalties.

I'm done with it. I'm leaving the country. I am not repudiating myc citizenship. I will continue to pay any US taxes due (assuming there are any which usually there aren't). And I'll continue to vote by mail against whoever is in office. But in terms of paying back the loans forget about it.

America is no longer the land of opportunity and I strongly encourage my fellow Americas to GTFO.

Maybe I'll get an education after all with this knowledge. Thanks!

In my present situation, rent, utilities, and food are a problem.
They recently said (on the phone)that they will take my house, boat , airplane , and car. Well, I own none of those things other than ancient car that I rely on.
When I informed the caller I had none of those assets, they were very angry.
As of yesterday, they informed me (via letter) that I am employed and that they will garnish my salary. I am not currently employed (trying!). I plan to call them and find out where they "believe " I am employed, cause I'd love to see the paycheck. In conclusion, they must be idiots.

reply to post by scooterstrats


Well this will no make you feel a littler bit better, but I will tell you that thanks to the Bush administration kissing corporate Americas arse the bankruptcy laws are in favor of the this people and now that the economy is leaving millions of people on debt they are going to use every loophole to get their money.

As consumers struggle to get by and businesses are faced with dwindling assets, debt collections are sure to increase in even greater frequency.

Outstanding consumer debt reached $5.59 trillion in August after an increase of $6.9 billion in August, even though most consumers appear to be scaling back on spending.

Across the country, there are 5,500 debt collection agencies. In 2007, those companies made over one billion contacts while trying to track down delinquent consumers. Both of those numbers are sure to rise as the economy sinks deeper and deeper into recession.

"The fact that debt doesn't go away as fast as it used to is contributing to the increase in debt collectors," said Mark Neeb, owner of The Affiliated Group, a debt collection agency in Rochester, Minnesota.

Not only is the rise in debt collections attributable to the current economic downturn, but it can also be attributed to newer bankruptcy laws and improved technology. Changes in bankruptcy laws in the past decade have made it much more difficult for consumers to cancel out their debts in bankruptcy court, leaving the companies they owe money with the opportunity to recoup payment. Also, technology has provided tools to collection agencies to more efficiently track down delinquent consumers.

www.economyincrisis.org...

Education is a right that everyone should be entitled to free of cost.

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