Faith and Finance

Watch the full Keiser Report E214 on Thursday. This week Max Keiser and co-host, Stacy Herbert, discuss taxpayers in the West being pepper-sprayed with toxic debts while in China fraudsters receive five fingers of death. In the second half of the show, Max talks to Gregor Macdonald about Warren Buffett’s investment in Japan and the cost benefit analysis of the energy policy of invading resource rich nations in order to liberate their oil. KR on FB: www.facebook.com

Question by Jack Clown: How long does it take for a debt to dissappear from another country?
Right now I am in the U.S, but i haven’t gone to my country for 9 years now. And i do owe some debts in my other country, But i don’t know if it dissappears in 7-10 years like i heard. The debt that i haven’t payed has passed 9 years now. I don’t know if my debt will get erased from my other country. Please answer.
If i go there and then come back will they stop me to pay my debts?

Best answer:

Answer by G. Whilikers
That totally depends on the laws of the other country.

In the USA, there are laws that limit the length of time a creditor can try to collect a debt. This time varies among the different states, and often by the type of debt. A separate issue is the length of time credit reporting agencies track information about your debts, which is 7 years for most information.

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