Re: Blowing Off US Debt is a BAD IDEA

Posted by Drew (24.59.27.46) on December 24, 2003 at 12:28:46:

In Reply to: Re: Blowing Off US Debt is a BAD IDEA posted by Marsha on December 23, 2003 at 11:27:57:

Marsha, I am not sure where we got off track here. The original assertion by J. Kelly is to be careful about racking up credit card debt, leaving the country. You might not be able to get back in. He specifically mentioned with this new Homeland Security that it might not be possible. You disagreed and said they don't do credit checks. I replied that all criminal background checks include pulling your credit files as a matter of course, looking at old addresses, looking for multiple identies, social security numbers, etc.

You are correct. Currently, bad credit will not prevent a person from getting in the country. It is difficult if not impossible to prove fraud. However this is current status.

The HOMELAND SECURITY and CONGRESS are now as we speak rewriting the old rules. Immigration is a whole different ball of wax than getting a travel visa to visit our country or getting a work/study VISA for a five year window.

I agree with J. Kelly. Why burn your bridges when things are really up in the air? IF the laws stand as they do currently, it won't be a problem, but if Homeland Security starts rewriting the laws, we have no idea what tomorrow will look like.

Also it is good to remind people that Congress is working on bankrutpcy reform to make it harder for people to go bankrupt and make it even harder for people to get out of credit card debt. Congress (both parties) are really concerned about the toll credit card bankruptcy has had on the economy and businesses and they have enacted legislation that will make it virtually impossible for people to get out of paying credit card debt.

The only thing preventing this law from being passed is a provision that was put in the law that Republicans are disagreeing with. But this provision will be worked out and this law will be passed probably within the next couple of years.

Merry Christmas.

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