QUESTION
What are effects of my wife's credit card debts once we moved back to the country?
Asked on Jan 24th, 2014 on Bankruptcy - Nevada
More details to this question:
I am working in the US and recently got married in my home country and will be traveling back to the US soon. My wife will join me as a dependent. My wife was in the US for few years before her work visa ran into some admin processing issues and she never returned back to the US. That process lost her job (2 years ago) and still jobless. During that time it seems she had a credit card debt of $17,000 from three different credit card companies. I'm kinda worried about my future prospects in the US, so I pulled her credit report and found out that the accounts have been "charged off", not sure what it means. I would like to know what sort of difficulties/challenges that might arise because of her debt and what I should do to resolve it.
4 ANSWERS
Chapter 7 Bankruptcy Attorney serving Bronx, NY
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Law Offices of David Brodman
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She can always file for bankruptcy to wipe put the delinquents debts.
Answered on Jan 28th, 2014 at 11:39 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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"Charged off" means that the credit card companies are not PRESENTLY seeking to collect, but certainly may recommence their efforts on her return. You should seek counsel on the effect of this on her immigration back into the US.
Answered on Jan 28th, 2014 at 11:37 AM
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A charge off is a means by which a creditor shows that the debt is not collectible on its books. It does not mean that the creditor will not still attempt to collect the debt.
Answered on Jan 28th, 2014 at 11:37 AM
Charge off means the debts haven't been paid in a long time. The creditor may not actively be pursuing collection at this time, but could send the account to a collector or reactive their interest in collecting if they feel the effort is worthwhile. This might be a real fine time to contact the creditor to see if they will accept a lump sum to settle the debt...if you have a lump sum in your pocket to pay.
Answered on Jan 28th, 2014 at 11:36 AM