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Canadian resident with Us Credit Cards

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Hi There, I am a Canadian citizen and have credit card debt from when I was a student in US. I can't pay even the minimum payments anymore. I have nothing in US but an empty bank account and a Po box address. While they don't have my address in Canada, they do have my phone number. What can credit card companies do if I stop making payments? What choices do I have?

Please help me figure this situation out. Thanks.

Sub: #1 posted on Sat, 08/17/2013 - 23:09


There are agreements between canada and the us and collection agencies that work both sides of the border. They can easily get your canadian credit report and information and they can sue you. Most major credit card companies have offices in both countries. (Cap One is big in canada now and citibank, wells fargo and BofA all have offices in Canada.)

Sub: #2 posted on Sun, 08/18/2013 - 05:10

Moderators Cum Industry Expert
(Posts: 17211 | Credits: 4746.38)

Thanks for your reply. What does getting my Canadian credit report give them? Will they be able to affect my credit rating in Canada? What is your suggestion? There is about $50,000 debt among 4 different cards. Min payment alone is $1000 and I can absolutely not afford it now. I appreciate your help.

Sub: #3 posted on Mon, 08/19/2013 - 21:35


If they use a canadian collection agency to collect, it could show on your report. If they sue you, it would show. Sounds like your only option may be bankrutpcy.

Sub: #4 posted on Tue, 08/20/2013 - 01:17

Moderators Cum Industry Expert
(Posts: 17211 | Credits: 4746.38)

I appreciate your quick answer. I can't file bankruptcy in US since I have nothing there. I do not want to do it in Canada since I live here and I depend on my credit. I hear that you can negotiate with CC companies for debt reduction as much as 50%. How does that work? If not, how about payment plan? I am up to date with them so far so my rates are under 10% on two and 12% on the other two.

Sub: #5 posted on Tue, 08/20/2013 - 03:03


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