Declared bankruptcy in the US and returning to Canada

Edwards Finance > Loans

Q. Unfortunately I had to do this and will probably be returning to Canada in the near future. Will this show up in Canada since I have a SIN number and the bankruptcy is tied to my US SSN number? Does anyone have experience in dealing with this?

A. I do. I've worked for TD Visa, MBNA Master Card, American Express Canada and Rogers Wireless, among others. You can go bankrupt in the USA and have a perfect credit history in Canada. Isn't life great. However, if you owed money in the USA (because you didn't go bankrupt), then your American creditors could hire Canadian collectors, bring you to Canadian court (unlikely), and that would appear on your Canadian credit history. That said, you might want to stick to Canadian banks and credit unions (and avoid Amex, MBNA, Citibank and Capital One if you owed them money state wise. But that is just a precaution, as they are officially independent from their US versions.) Also, fleeing the USA with unpaid and uncleared debts could be consider fraud, which is a US criminal offence (or felony or whatever they call it down there). A warrant for your arrest could be issued. Eventually, you could be deported from Canada to face your charges. More likely, you would be imprisoned next time you got a US speeding ticket. But if you took the trouble of declaring bankruptcy then there is no fraud in moving after you are released from your bankruptcy obligations...

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