f1 student credit card collection help

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manoj1

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guys,

i am moving back to nepal next year...i owe around 10k to together to 5 different bank here in usa.

today i got a letter from my collection agency about the money from one of my bank. as a student we give our false information about employment and residency status while applying for credit card. i was wondering if they can use it against me and take me to legal action.

seriously help needed..

hope someone have information regarding it..

Jai_Nepal

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A badhai cha. Thulo kaam garechas.

Tara.. i dont think they will take any legal action against you for 10K.. thats too less of a money to take you to court. However, your credit score will go down the drain. And you will probably never be able to return back to the US... and even if you do, you won't be able to get another CC for a long time (7 years to be exact)

Have fun in Nepal. Heard we have 11hr/day load-shedding these days.

yeostudent

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My Scenario is almost same as Manoj1...I have credit cards debt abt 15K(Collection Agencies call me like 10 times a day)

My visa already expired and I'm current in OPT and have a decent job.

I really want to go to Nepal. & come back..but not sure if they'll check my credit status at the time of visa interview.

nice_bro

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Yeostudent,

I know one friend who had defulted the credit card debt like you guys did. He never paid the credit card. He had no problems to come back here after stamping the H1b visa.

They will not check credit score in visa interview.

Of course, your credit score is bad now and no chances to get credit card, mortgage loans in near future.

Good Luck.

yeostudent

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Thanks for info nice_bro !

I heard people getting stamped for H1b visa...but not sure if it's same case for OPT.

My concern is if they reject to renew my visa stating the US economic recession as I am in OPT status.

kailoketa

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Paisa khayera tirna sakdainau bhane, hamro baal balika ko bhabisya bigarna baru Nepal panu na-au. Tyaha bani pareko aaba koon chai ko paisa khattam banaune pare yini toray lahurey harule Nepal ma. Ki kaso saathi ho? US gayera padeko manche ko boodhi kidney ma! Hare..teti biddwatta hasil garna ta US kina janu. School nagayeka lanthu haro pani ghar basi basi dooniya lai ruwayera khakai cha ni yehi Nepal ma? Timarle padeko tetti ho manoj1 ra yeostudent? Dhoti ko restaurant matrai padeuki k ho? ani spanish keti ko talako padeu hola. dherai arru saathi haroo le hardship endure garera timarlai tetro mauka dinay desh lai samman garera baseka chan, thuikka timaru moola haroo.
ki pachi tirnay bichar cha..antim ma. teti bela byaaj pani 100K exceed hola!

NEPAmerican

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Dear Manoj1 and yeostudent,

If you are considering long term stay at the US, you should plan on paying the debt off. My suggestion is to contact one of the Debt management Agencies. They will help you make a payment plan, and they will negotiate with your credit card companies to reduce the APR. Depending upon your total debt, they will determine the amount you'll pay every month, and also the duration of the plan. For example, for $25,000 debt, you'll pay aroung $500 every month for 5yrs or so. But make sure by visiting BBB (Better Business Bureau) that the Debt Management Agency that you choose have A+ ratings. Your credit score will become excellent after the debt is paid off.

As far as taking you to the court, I dont think it'll happen.

About travelling to Nepal on OPT, it is a very bad idea. Even the international advisors and VISA councellors advice you to avoid that. Since your studies are complete, and you do not have a working Visa (H1B), your future status will be questionable. So, unless you get an H1B, dont travel to Nepal.

Allegro

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Oye Kailoketa, tan muJ#i ta nepali hoina taliban jasto chas kura gareko herda. Tero bau ko desh ho ki ke ho Nepal? Aru lai na aunu bhanna lai?

yeostudent

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@KAILOKETA

I understand your sentiments. We all struggle here in the US to make our lives better.

I had scholarship and tutoring job at my university...still I was unable to pay my tuition fee as tuition fee kept on soaring... F.Y.I..The debt I incurred in credit card was used to pay my tuition not on my entertainment.

I don't think you should judge people just by looking at one aspect of their lives.

Unless you get full tuition scholarship here in the US, everybody knows it's hard to sustain financially.

And, you're not exception KAILOKETA

kalopani

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well what happens after 7 years of delinquency? do the bad records go away or do they keep renewing it?

dekchidriver

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Last edited: 02-Mar-11 11:08 AM

kalopani

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who is running off with money us or the credit card companies. these credit card companies almost make it impossible to pay them off . with over the limit and 29% interest charge. i owed 1500 on a credit card i am sure i payed over 5000 but the 1500 still didn't seem to go down . i was starving but i was keeping money aside to pay off the credit cards. at one time it came down to either paying these vultures or eating and to survive and chose the later. thats why there is bankruptcy and 7 years rule to help people out who are honest but absolutely can't pay them out. they are outrageous. they make you sign on bunch of document to make it legal but they are not ethical. so quit making us look bad , it's them not us.

dekchidriver

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Last edited: 02-Mar-11 11:08 AM

kalopani

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it's all good dekchi.. i was just trying to tell people that sometimes u do what you have to do to survive and in that situation you don't care about ur credit.. which is still bad but , hey we gotta eattttt...

manoj1

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guys,

thanks for the reply...and for some replies, its already happened. i am not running away with money from here. i dont think anyone would suggest me to pay back credit card money, if i m not planning to come back. and i havent spend those money on some spanish girl. i spend it on my family. anyway thanks for the replies again, i was really worried about it..i got the help i expect from sajha. if anyone can tell me about legal action for putting false information about permanent residency. i just wanna know about the consequences.

kailoketa

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esto manasikta bhayeko nagarik bhaye pachi nepal ko halaat kahile sudrincha kooni? khaye pachi tirnu parcha bhanthay haami lai ta bood paaka le. euta lanthu le mookh chaadi sakyo. afai paisa khancha, afai mookh chadcha. angreji ma typical nepali ho ki k ho bhanthay teacher le!
eh meri bassai..gwam gwam khayo, ahile sutukka bepatta hunu re. nindra lagcha hai timarulai? feri aru k bhaka kooni -- tirnu pardiana re...baaki.

Dissident

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How about these banks? They went through the same situation. They spent all their money giving loans to people who didn't have any money with great financing with houses and stuff. Now they are being bailed out by the government, with our own tax money.

The whole system is absurd. I owe these bank some money and even if I had to go out of this country without paying them, I wouldn't feel guilty(but I won't as I can pay them eventually). At least I benefited as I completed my studies with that. A citizen from a poor country took benefit of the faulty system of this rich country. Its not just who are not paying the bank. There are a lot of foreclosures and shortclosures happening in this country because a lot of people cannot pay their debt.

Credit card company took a risk trusting us, they make money by making us pay the ridiculous finance charges, they aren't any saints either, but you agreed to pay them so its your ethics to pay them back.

By the way they don't look for your credit score while reentering the US. I don't think it shows in your criminal background check either, but yes, your credit score will be f**ed up.

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