U.S Debt and Canadian Bankruptcy
May 12th, 2008 by Questions
This is actually a follow up to an earlier post..
I had stayed in te U.S for a few years and had accumulated 35,000 dollars in credit card debt when I left the country in 1995. In 2008 I`am saddled with an approximate 180K Canadian debt.
If I declare bankruptcy will the U.S debt with all interest added on be included in the bankruptcy if I presume that the statute of limitations hasn`t expired?
The total U.S debt with interest at 14% would be now 220,000 dollars and greater than the Canadian debt of 180K.
If I file a division I proposal , would the same apply? ie. total debt of 400K with the U.S debt being 55% of the total?
To complicate issues further I don`t have documentation of the debt.
What would a trustee do if I gave him this information? Would he include the U.S debts or not?
Posted from: Ontario