Do I have to return my credit card if I immigrate?

In many cases, your debts won't stop you from leaving your country for other places, but that doesn't mean you can put these old debts behind you and start over.

There are several possible outcomes, including:

1. Arrest. If you owe money to your own government, you may even be arrested at the airport. Otherwise, you will be restricted from leaving the country and your passport will be confiscated.

Your credit record will be destroyed. If you try to avoid debt or fail to repay it in time, it will seriously affect your personal credit information. If you plan to return to China, it may bring devastating consequences to your future work and life. Even overseas credit information will have an impact-it all depends on whether the lender you provide financing will inquire about your credit information records in your home country.

You may face legal proceedings. Your creditors may take legal action to recover their debts. Whether you are in this country or not, whether you can appear in court or not, such action may continue. Although an overseas court may not be able to force you to repay overseas debts, it may allow creditors to recover any assets you still own in your home country.

You may lose part of your salary. If you work overseas for a domestic company, your salary may be deducted or withheld.

5. Creditors continue to recover debts from you. Banks or credit card suppliers may recover debts from you in your new country of residence.

Open an overseas bank account. When you move to another country, please consider keeping your existing bank account. This will provide you with the destination of international remittance, and then you can handle debt payment online.

Try to pay off your debts before you leave. Due to the exchange rate and remittance costs, repaying overseas debts will lead to additional costs. The longer you wait, the more interest you will pay. Before you leave your motherland, try to pay off your debts, for example, sell your house, furniture or car.

Debt collection companies are not limited to one country. Moving overseas won't get you out of debt. There are many debt collection alliances in the world, such as Lian Xin Group, a subsidiary of TCM Group. Collection companies in various countries have cooperative relations, and your creditors can completely seek collection companies to collect debts. And there are international debt collection platforms, such as DCA. Your creditors can establish contact with the collection experts/collection companies in your current country and entrust them to collect debts from you. Avoidance will not solve the problem.