Might flee European debts..

Member since 24 November 2016

SofewondersNew member24 November 2016 13:54:06

Hello, after a series of terrible events, I might need to move back to the US, and flee my French debts.
I got mixed up in an investment scam, bought an overpriced home, and rather than let the bank seize and auction it off, I sold it for us as much as I could to lessen my remaining debt on the mortgage to about 100K.
An important side note - A French foreclosure is not like in the US - you continue to pay the French loan for life, so it wasn't in my interest to foreclose. The remaining debt would have been much more after auction price.
I simply cannot continue these payments. What will happen if I go back to the US and stop all payments?
My thought process is even if they sell the debt to American creditors, I stand a chance of negotiating with American creditors, whereas in France - there is no negotiation... (My lawyer tried to negotiate with the bank before all of this.)
I doubt they could seize my American assets but if anyone has some stories to share, I would love to hear them. A real nightmare for me.

dmd0705 Active member

Member since 25 May 2013

dmd0705Active member05 December 2016 16:49:06

It sounds like you need to talk to an American lawyer who deals with international laws regarding financial matters. This sounds pretty serious and I wouldn't risk taking any layman's advice!