Korean Job Discussion Forums

seoulunitarian · Joined: 06 Jul 2004

Hi,

I was wondering if anyone has had any experience with filing for bankruptcy in America from Korea. Are there any law firms that handle that here? Thanks.

Peace

wylde · Joined: 14 Apr 2003

is that why you chose to come to korea? Laughing

wylde · Joined: 14 Apr 2003

i don't know about the states, but if you have a list of creditors you should be able to forward the names and amounts outstanding to (i forget the name of the joint used in australia, it is a central office kind of thing) 'somebody', and they will appoint a trustee to handle all matters in the future..

if it is only a small amount with several companies it should not be too difficult to handle alone, but if it is quite comprehensive you may need legal assistance.. first spend a few bob on some phone calls and a few emails to see what they actually require..

if you do declare yourself bankrupt, you will have to pay all income over a certain amount to your trustee...

that also may bring into question your location.. if you were to go whilst in the states, you would need special permission to go offshore for the period of your bankruptcy.. i have no idea what they would/could do if you are already offshore..

my pal is a crud buster in australia.. sometimes i help him out as muscle Rolling Eyes

when he has to repo something that someone doesn't want to part with.. and, unfortunately, we have had to screw up a few of our pals and subsequently help them through their bankruptcy..

i'm not exactly sure what you can do here but i do suggest you contact the correct agency in the states before paying for legal assistance here..

good luck pal

OiGirl · Joined: 23 Jan 2003 Location: Hoke-y-gun

I think you have to physically appear in court to declare.

wylde · Joined: 14 Apr 2003

peppermint · Posted: Tue Aug 30, 2005 5:08 am Post subject:

I don't know much about filing for bankruptcy, but I do know that a few of the law firms in Seoul ( maybe other places too ) keep a lawyer from a Western country on staff to handle international issues- if nothing else, they should be able to point you in the right direction.

Homer · Guest

But, bankrupcy will not erase any student loans that you have....

canuckistan · Posted: Tue Aug 30, 2005 7:20 am Post subject:

I've been reading that it's about to become harder to declare personal bankruptcy in the US as the gov't has tightened the rules, which will come into effect soon from what I understand.

Pligganease · Joined: 14 Sep 2004 Location: The deep south...

Check this link...

http://straylight.law.cornell.edu/topics/bankruptcy.html

Might help you out.

stumptown · Posted: Tue Aug 30, 2005 9:25 am Post subject:

Due to Bush's new laws, as of Oct. 1st if you file bankruptcy, it doesn't apply to credit card debts. According to US law, you have to file in person from the last state of residence. Meaning you can't transfer power of attorney to someone in the states to do it for you.