Greetings friends and thank you for welcoming me into your forum.
Since bankruptcy is such a personal thing I figure it'd be good to get a bit personal when describing my situation.
Six years ago I got lucky and found my wife. Unfortunately she was on the other side of the planet in Australia. Back then I had a house in California so we figured it be best for her to move Stateside rather than I go that way. Since then things have gone rather sideways in many ways. First we moved out of the house due to home invasion (with my wife and 1 month old in the house at the time!) and let it go into foreclosure and surrendered it. Not the smartest thing but we've gotten past it.
We've since left California (good riddance!) and moved to New Mexico (meh). We now have two kids, and thanks to that foreclosure and stupid credit reporting we have been denied buying a house a third time.
Now I will fully admit I've done some dumb things over the years to get us into this situation, but at the same time between my work situation and my wife's continued homesickness we have started reconsidering that decision of her coming here.
So here's my question, I have no intention of ever returning to live in America. I'm very much a "if I go, I'm gone" type person. Moving to Oz would be a fresh start in a lot of ways but I'm curious how much of my debts here would follow me there, or prevent me from going there.
Currently I rent an apartment, have two car payments (both upside down), and have about $2500 worth of credit card debt and $7500 in student loans. I have two 401k's and I'm only 35. The cars total about $60K but since I'd be leaving the country I'd be surrendering the cars anyways. I'm still gainfully employed and am able to keep up on everything no worries.
I've seen mentioned here a few times if you decided to file for BK you should stop paying all the debts on things you're going to get rid of anyway (including cars) immediately. That way you can use the money for the BK fees and, in my case, the moving costs of leaving the country. My question is, do I even need to bother with BK if I don't plan on coming back? Also if I did stop paying things how fast would they come for the cars because I kind of need one for work for a while (maybe just surrender one and keep the other for work until ready to go entirely?). As you can see I've got lots of questions swirling around and no one really to come to. So I come to you guys!
Oh, another not insubstantial thing to come up is the costs of flying 4 to Oz, shipping a few things (computers), My immigration paperwork ($3000), and Passports/Citzenship paperwork for the kids and myself (About $900. Fun fact, kids born of Aussie mother [She never gave up her citizenship] but born outside of the country can still be Aussies. Makes this plan SOOOoo much simpler from that paperwork nightmare POV)
Since bankruptcy is such a personal thing I figure it'd be good to get a bit personal when describing my situation.
Six years ago I got lucky and found my wife. Unfortunately she was on the other side of the planet in Australia. Back then I had a house in California so we figured it be best for her to move Stateside rather than I go that way. Since then things have gone rather sideways in many ways. First we moved out of the house due to home invasion (with my wife and 1 month old in the house at the time!) and let it go into foreclosure and surrendered it. Not the smartest thing but we've gotten past it.
We've since left California (good riddance!) and moved to New Mexico (meh). We now have two kids, and thanks to that foreclosure and stupid credit reporting we have been denied buying a house a third time.
Now I will fully admit I've done some dumb things over the years to get us into this situation, but at the same time between my work situation and my wife's continued homesickness we have started reconsidering that decision of her coming here.
So here's my question, I have no intention of ever returning to live in America. I'm very much a "if I go, I'm gone" type person. Moving to Oz would be a fresh start in a lot of ways but I'm curious how much of my debts here would follow me there, or prevent me from going there.
Currently I rent an apartment, have two car payments (both upside down), and have about $2500 worth of credit card debt and $7500 in student loans. I have two 401k's and I'm only 35. The cars total about $60K but since I'd be leaving the country I'd be surrendering the cars anyways. I'm still gainfully employed and am able to keep up on everything no worries.
I've seen mentioned here a few times if you decided to file for BK you should stop paying all the debts on things you're going to get rid of anyway (including cars) immediately. That way you can use the money for the BK fees and, in my case, the moving costs of leaving the country. My question is, do I even need to bother with BK if I don't plan on coming back? Also if I did stop paying things how fast would they come for the cars because I kind of need one for work for a while (maybe just surrender one and keep the other for work until ready to go entirely?). As you can see I've got lots of questions swirling around and no one really to come to. So I come to you guys!
Oh, another not insubstantial thing to come up is the costs of flying 4 to Oz, shipping a few things (computers), My immigration paperwork ($3000), and Passports/Citzenship paperwork for the kids and myself (About $900. Fun fact, kids born of Aussie mother [She never gave up her citizenship] but born outside of the country can still be Aussies. Makes this plan SOOOoo much simpler from that paperwork nightmare POV)
MAKE SURE AND VISIT Tobee's Blogs!
Comment