What happens when I have a foreign debt I can no longer pay?

Occasionally, I will see a question come up on the internet regarding foreign debts and whether those types of debt are dischargeable in a bankruptcy that is filed in the United States. The simple answer is yes the debt is dischargeable in a United States bankruptcy case. The basic issue regarding discharged debts, even foreign ones, is enforcement. All debts that have been discharged in a bankruptcy case filed in the United States are protected from future collection by a creditor through … [Read more...]