What can I doif I have a foreign loan aboard and I can’t pay for it?
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What can I doif I have a foreign loan aboard and I can’t pay for it?
In 1999 I got a loan in the Netherlands and in 2001 I moved to the USD and became a citizen. When I left for the US I thought that my loan was paid off but now I found out it was not and I do not have the paperwork to proof that I paid the loan. I got a letter from a Dutch collection agency and they are stating they will go to court for the money. Also, I am already in a chapter 13 because of my ex-wife.
Asked on November 16, 2010 under Bankruptcy Law, Washington
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Well, they found you. Can they register the judgement here if they get it in the Netherlands? Probably. So I would try and tackle the issue now rather than later while you are in Chapter 13. Can you amend the petition to include the debt or can you not afford to do that? Taking the bull by the horns is the way to go. I would contact the collection agency, ask them for the things that are required here to validate the debt: proof of ownership, a complete debt history and a copy of the original loan agreement. Make sure that you tell them that the debt was paid off. And I would check the statute of limitations for this as well. Good luck.
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