International Loans
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Forum Name: Describe your Debt Load!
Forum Description: Post stories of your debt and how it affects you and your family
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=2121
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Topic: International Loans
Posted By: Manchuria
Subject: International Loans
Date Posted: 01/February/2005 at 12:38am
Got a unique question here and hope I can get some guidance...
I'm a Canadian citizen...went to school in France in 2002 with a student loan from a Dutch bank - approx. $50,000 CDN.
Unfortunately due to the crappy economy was out of work until about
three months ago and had actualy started to use credit card debt to
live.
I now live in China.
Does anyone have any idea what sort of recourse a Dutch bank would have
on a Canadian living in China? Could they go through collection - doubt
a Canadian collector would want to bother.
Thanks
Manchuria
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Replies:
Posted By: Ferren
Date Posted: 01/February/2005 at 5:49pm
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I believe there are international collection agencies that deal with this sort of thing. I don't know the international laws and treaties governing the process, but money knows no borders and neither does debt. Try googling "international collection agencies" and you will see endless results. I imagine it all boils down to the cost effectiveness of pursuing the debt. $50K is a lot of money and it might be a sum that someone is going to go after, but as I said I have no expertise in the matter.
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