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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10650
Experience:  30 years as a practising solicitor.
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Dear Sir or Madam, I have a 10-year U.S Green card set up

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Dear Sir or Madam, I have a 10-year U.S Green card set up and a flight to California, USA, booked for September, I am never returning to the UK. I have a house in the UK which I am unable to sell, it has negative equity, a 114K debt. Auction value of the house is 80-90K. Potential £34k risk. I have no other debts. If I move to the USA and don't acknowledge the mortgage debt, will I be declared bankrupt. Is there a 12 year statute of Limitations on this type of debt if no payment and if I refuse to communicate with the lender's agents? Is a UK debt this enforceable in a USA / California Court. What are my liabilities in terms of actions by the lender and timescales.Thank you for your consideration.

Thank you for your question.If they repossess and sell the property, the lender can then sue you for any shortfall. If they go to court in this country and obtain a decree they can technically register that thought the American courts for enforcement in America.But they have to find you.If they make you bankrupt, a trustee has no jurisdiction over assets in the US.If thy do nothing the debt will become time barred after five years for the sale of the property.In practice they will sell the property and if you have disappeared they won't proceed further. They will write off the loss.Happy to discuss further.I hope this helps. Please leave a positive response so that I am credited for my time.
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Customer: replied 3 years ago.

If I declare myself bankrupt here and move to the USA are you saying that the trustee / OR cannot touch my US earnings?

If they can find you and if they think you have assets then they will pursue for the shortfall. However, in your circumstances and in the vast majority of cases they won't as they know that the only reason they have had to repossess in the first place is that the debtor has no money or assets.
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Correct about your US earnings
Customer: replied 3 years ago.

Hi just tipped £10.


Please clarify. I will basically be living in my parent in law's house, will own no portfolio, no property but I will be earning $65k - $100k a year. I would never have anything in my bank account as it would go into my wife's savings each month. Am I correct in thinking they would leave me alone?

Customer: replied 3 years ago.

Hi just tipped £10.




Please clarify. I will basically be living in my parent in law's house, will own no portfolio, no property but I will be earning $65k - $100k a year. I would never have anything in my bank account as it would go into my wife's savings each month. Am I correct in thinking they would leave me alone?


Thank you for the bonus. I confirm that your earnings as described you would not be vulnerable to a claim in any sequestration.
Customer: replied 3 years ago.

Right on.

No problem.

J
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