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I accumulated an international debt in 2009 and now the bank…

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i accumulated an international debt...
i accumulated an international debt in 2009 and now the bank that i owe the debt to overseas has hired a debt collection agency in the states to collect. i've been in communication with the bank before he sold (i think) my debt to the collection agency and offered a settlement less than whats owed but they continuously refused. can the debt collection agency sue for the debt and win? what are my options?- i am in Michigan and the collection agency is in California and the US collection agency started pursuing this couple of weeks ago but its been since 2008 with the international bank- steps taken so far: other than offering settlements and begging to settle for less the amount, nothing so far. and nothing at all with the US collection agency.
Submitted: 3 months ago.Category: Consumer Protection Law
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4/2/2018
Consumer Protection Lawyer: Law Educator, Esq., Lawyer replied 3 months ago
Law Educator, Esq.
Category: Consumer Protection Law
Satisfied Customers: 125,914
Experience: Attorney experienced in commercial litigation.
Verified

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Can they sue for the international debt in the US, yes they can. Can they collect from the debt in the US, yes, if you are here and you have assets here, they can get a judgment against you and collect it here in the US.

You could, if you qualify, file for bankruptcy, which would extinguish this debt and prevent them from ever recovering it again. You can fight them and they have to prove the debt is a valid debt and make them prove they even have a right to collect the debt. If they cannot provide a note or proof the debt is your debt, then the debt would not be found to be valid. As far as the statute of limitations though, the statute of limitations or prescriptive period would be based on the limitation in the country where the debt is from.

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Customer reply replied 3 months ago
what can they do if they get judgement against me?
I have a house on mortgage, can they do anything to it?
I am in Michigan, can they attach my wages and auto deduct?
can i make a deal with them to make a payment plan? will this a common practice?
Consumer Protection Lawyer: Law Educator, Esq., Lawyer replied 3 months ago

Thank you for your reply.

They can garnish your wages and they could seize/levy your bank accounts. Your home would likely be safe because of the mortgage. One car would be exempt from seizure.

As far as a deal, you can negotiate a payment plan with the creditors if you choose, but it has to be reasonable payment amounts.

However, they can sue you just like a local creditor can do and pursue garnishments and levies of accounts like they could with a local account.

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Customer reply replied 3 months ago
lastly, in your opinion and based on your previous interactions, what would be a reasonable amount for payment plan?
Consumer Protection Lawyer: Law Educator, Esq., Lawyer replied 3 months ago

Thank you for your reply.

I have no clue, it all depends on how much you owe totally and it is up to the creditor what they will take. I mean offering them $50 a month on a $100,000 debt is not reasonable. Offering, $500-$1000 a month may be considered reasonable.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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