I am moving to Canada from the US will my credit score transfer also?

Question

So i am a Canadian citizen living in the US, i lost my job cause my work visa expired and i wont be getting my green card from the looks of it, so i am in the process of moving back to Canada. Cause i lost my job i cant pay my credit card bills anymore so my credit score is getting lower and lower and i dont think i can pay 15k in credit card bills anymore as i need the money to settle down there.

By next month i will have had completed my move to Canada now i am wondering will my bad credit score transfer over if i dont pay my US credit card bills? And even if i owe then money and live in Canada, can any criminals charges be placed on me if i am living in Canada still?

Answer 1

What a dead beat! Running away from $15,000 of credit card bills.... I think that you would be better off to negotiate with the credit card companies before the end of the tax year. There is a way that this could become a criminal deal and you could get hauled back to face US Federal court. The credit card companies will issue a Cancellation of debt (1099c) and you will owe US tax and state tax on that in the year that the credit card companies deem them as bad. If you hurry you might be able to get it all done by the end of this year.



The credit card companies can sue you in US court and then they will cross the border to take you to Canadian court to enforce collect the US court order. Therefore don't assume that this problem is solved by running away from it.



Take my word for it negotiate before it snowballs. I'm tallking penalty and interest.



Good luck on this one.

Answer 2

Yes.



Your credit score is managed by several credit services companies. There are various ones in the US and Canada. Each compiles a score made up of reports they collect from banks, credit card companies, and others. When they ask Visa/Mastercard/Amex/etc. they will forward records from any country they have a record of.



It isn't a criminal offense to not pay your bills. That is a civil matter. If you leave the US without paying, they'll just keep lowering your credit rating, adding up interest, and sending you collection notices. At some point, it will be worthwhile to them to connect a Canadian collection agency to start bothering you. Finally, at some point it might be worth while for them to sue you for them money. They'll file a lawsuit (in the United States), setup a court date, and you'll be sent a notice to appear. If you don't appear in court, they might reschedule once or twice, but at some point the judge will get tired of this and issue a bench warrant for you to appear and/or cite you with contempt (and issue an arrest warrant for you). While it is highly unlikely the court will seek to extradite you from Canada and outstanding warrant mean that you'll be arrested if you try entering the US and most countries will deny you entry with an outstanding warrant.



You should look at talking with a credit debt councilor and work on getting this paid off. Often they will accept a settlement, although this still hurts your credit rating. You should consider things like consolidation loans, borrowing money from friend or family, etc.

Answer 3

even as my pal from West Virginia moved to Toronto, her large credit ratings/Hx wasn't transfered, yet in case you prepare for a mastercard once you get to Canada, they'll finally ask you once you've had previous mastercard/s and from there they'll now and again base your acceptance, properly assuming that you're operating and or were given large sum of money on your account. i recognize for a shown reality that in case you flow to US from Canada, your credit history isn't transferred. Canada and US does use both Equifax and TransUnion credit status tests agencies.