| Username |
Post |
| acharya |
Posted
on 04-Aug-02 07:37 PM
I am a permanent resident of US and will be in my junior year of BS at my univ this fall. I have $10500 student loans from federal govt( direct loan,perkins loan etc) for last year and for this coming year I am about to sign my finaid package which consists of another $12500 as student loans and $5500 as a private student loan from a bank. Somewhere in my heart i hear myself convincing that I no longer have interest in staying and studying in te US and I want to go back to Nepal for good. Now, what I am worried about is the loans that i have taken from the govt and that private bank. If i quit this country for good, will my creditors make attempts to recover their money from me when i am back in Nepal? I understand that there will be no way for me to come back to the US again, but that is okay with me. I have not done anything illegal. I just wanna get the hell out of here and live my good old days back home. Does any of you have an idea as to if i will be able to live my life peacefully in Nepal again ( without getting harrassing calls from my creditors). I hope you understand my problem. Only serious responses please! Thanks in advance.
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| akash |
Posted
on 04-Aug-02 08:07 PM
Acharya Bro;
seems like your have reached to the highest level of illusion. What I am saying here is that peace doesn't live in any country or any place. If there is a peace, it is inside of your brain, heart whatever you want to say. Bottom line is peace is inside you.
Another case, you have mentioned here is that you see big financial crisis in future; which is just I would say " wrong concept". You should be able to manage all these money mess, if you still seriously think about your ambition ( you have thought before you have come to this country). I am very confident that you can achieve your goal. By your statement, you seem very lucky that you are a resident. About your study, you left it very vaugly that you are a shopomore now. But be specific that what is your field of study and how are you doing so far. Only this factor can verdict your judgement. Even though, don't be discouraged. There are so many alternatives if you don't want to pursue this way.
Third, you have got so much oppurtunities that not only it give you happiness, also you can help your bro, sis, and family back home. Just find a rigt person for good counsultation.
Brother: you might have heard " if you have will, there is a way"
Finally, simply answer your question about "money mess". Any organization if that deals with money or anything related to capital in the United States, darely care about collection. So be aware that they will dig you out soon or later no matter where you go.
Be relax and think coolly. Solution is out there.
Good luck and please be optimist.
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| catmandogal |
Posted
on 04-Aug-02 09:13 PM
I do not think they have any way of tracking you down if you are only a permanent resident. Citizens are easy to track b/c they need visas to go to Nepal, but I think you should be ok. I highly doubt they are gonna come after you for 5000 dollars a piece per bank. Good luck.
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| Gokul |
Posted
on 04-Aug-02 09:38 PM
Don't do that. They will follow you like Harrison Ford in "The Fugitive". Besides, you will be feeling guilty your whole life and that is already a big punishment.
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| Gangabu |
Posted
on 04-Aug-02 11:18 PM
If you decide to go to Nepal, They are not going to track down. Hell, they wouldn't know where the hell you go. Its not worthy for them to track down as it costs way too much than the money you owe.
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| Nattydread |
Posted
on 04-Aug-02 11:44 PM
Hey you got such lofty ideals man. Go for it. You are the kind of people Nepali society needs. It really sounds like a nice Bahun buddhi. What are you waiting for? Nepal is peaceful and besides you must have good connections there . What a man! I really admire you and I would want my kids to be like you.seems like your only worry is about them coming after you. That is great that you guys have good conscience. more than half the people back home is like you that is why our country is so great! I see none of the government people paying no telephone or electricity bills. But you guys can do it no problem. Go ahead man it will be a great achievement in your life.
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| dilmaya |
Posted
on 05-Aug-02 12:29 AM
don't worry u r not only one person who has a lots of debt in the us. i have more debt than u. i am also thinking like u. but why u r going back since u r a permanent resident, because there are lots of opporttunity that u can do here. go back to nepal & marry with beautiful girl and come again.
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| U_2 |
Posted
on 05-Aug-02 01:00 AM
What if you get sick of Nepal after spending some time there, that is, after all your expectations there get vaporised! It would be good to keep an option of coming to US open, that is don't get blacklisted there in anything!
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| MmmBop |
Posted
on 05-Aug-02 08:41 AM
There are two solutions to your problem.
The first one goes in line with your thought, how to get outta this mess?
My suggestion is that you consult a good civil case lawyer who expertises in Bankruptcy. You might need to file a Bankruptcy and the lawyer will help you to get a 'valid' reason for doing so. Since lawyers charge ridiculously high fees,
I would suggest you to goto 'lawyers.com' or many other sites for the process involved and qualifications required. There are cheap advocacy services for students.
The second solution is doing the best thing, a little contradictory to your anticipation.
Finish the college (college isn't an option now a days, its a necessity). Get a job, anykind.You might be depressed thinking that you are not good in the field of your study. Once you get a college degree, you can persue you career in any other fields...most lucrative ones for such case are: Financial, adminstrative mgmt etc. Get a job, start paying off the lones, invest money in real estate and stock markets. You actually will enjoy living here in the states. Because of the lone burden, its not ideal for you to leave this country and go back to Nepal.
The first solution will not only clear you from the legal hassels, but also
will put your mind on ease. Having said that, I also don't think the US marshals
will come to Nepal to return you back to the country..its just not viable for them.
But This is not something I would suggest.
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| NK |
Posted
on 05-Aug-02 10:10 AM
acharya,
So far you have managed to rake up US $ 28,500. And you have two more years to go. So maybe another 20 grand. That makes around 50 grand. Not bad. Now let's not get confused with the love for your matribhumi and fear of a huge loan. Without sounding too righteous you took that loan agreeing to pay back. There are legal and moral implications. You are thinking of leaving the country so legally you are thinking you may be safe. But as others have pointed out what about the peace of mind?
I know for sure you *will be able* to pay back that loan if you finish the school and get a job. There are ways to pay in stallment as you may know already. *Do not* declare bankrupcy yet. Finish the school. First thing first. Dont' get overwhelmed with that dollar figure. Believe me almost everybody I know has school loan. I did too. I have one more year to pay off. All my friends are in various stage of paying school loan.
Hey you are living in a capitalist country. Make the best out of it.
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| Brit |
Posted
on 06-Aug-02 04:32 AM
Hi Acharya,
I am working for a Credit card company called Capital One (UK branch). & the most our company can do with Debtors is to Blacklist them on their Credit Rating so that they wouldn't be able to qualify forMortgage or Credit scoring things... whether it be in buying a car or getting a new credit card or getting any equipments and things.
Fearing of getting Blacklisted many debtors try to pay it back on installment basis or in conjunction with other financial companies.
If you never want to do business with the United States or any other Multinational companies then don't worry to pay back...
But be noticed if you apply for a credit card from any bank in Nepal !! you will never be qualified.
Your Well wisher.
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| Brit |
Posted
on 06-Aug-02 04:47 AM
Once again,
Nobody will make any attempt to recover any money (Physically; somebody here is saying US Marshall will come to Nepal to recover the debt; that's just Bullshit) But they will do it in such a way that you will never be able to borrow any more moneyand financial products from any registered company . Like Blacklisting you (that's it ) Years of court cases can cost them too much money which is not worth it.
Your well wisher
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| serious as they come |
Posted
on 06-Aug-02 10:56 AM
acharya-ji,
if you're seriously thinking this way, then you clearly didn't gain sufficient returns on your investment in your education. and what exactly did you mean when you signed your own name (i assume) on your student loan contracts? as we all know, one of the first questions nepalis tend to ask when they meet someone new is "what is your GOOD name?" think about it, before you make other people pay for your debts. tough love, babu.
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| sally |
Posted
on 06-Aug-02 11:35 AM
Bai, are you thinking of returning to Nepal because you really want to live and work there, or because you're scared of the debt and just want to run away?
First, let's look at this from the standpoint of sheer self-interest. If you go to Nepal, you'll either have to sacrifice your green card, or maintain it by returning to the US every 6 months (or every year, I'm not sure which.) That's at least $1100 a year in travel expenses, possibly a lot more. Plus your income won't be high in Nepal. Financially, you're better off working here and paying off the debt slowly, like every other student who takes out loans. By skipping out on it, you're not getting off scot free. You probably lose your green card, and you may have trouble re-entering the US. Even if you don't lose your green card, you and your children could have trouble getting loans in the future. You'll probably be kicking yourself a few years down the line.
If you've honestly decided that you'd prefer to live and work in Nepal because there's something you're interested in doing there, and are scared that your US debts might make that impossible, talk about it with a financial aid officer at your college. There may be ways for you to defer or expand the repayment time on your loans (I don't think you have to pay back more than a percentage of your income). And remember that you'll need to get the right paperwork to maintain your green card if you want to be out of the US for more than 6 months.
Meanwhile, look for other ways to finance the rest of your education before you dig yourself into an even worse hole. There's a lot of scholarship money out there, if your grades are competetive. If not, you may be able to transfer to a less expensive university, or get a part-time job.
Remember: You can run, and you can hide, but EVERYTHING comes with a price. As you're finding out now, those loans actually had a price. Going to Nepal will have a price. Skipping out on debts will have a price. Perhaps the best favor you can do for yourself is to face, squarely, just what the prices will be, and what you're willing to pay for your choices.
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| bideshi |
Posted
on 06-Aug-02 11:46 AM
Hey dude!
How come u become so nepali- neta- like- thinking attitude!U r here in US,study hard,complete ur study and get a good job,pay back ur loan and go back t oNepal.Time flies like a kite and u definitely can pay back ur loan.
But with this attitude,u r only concerned about whether those guy will get u or not,will simply make u gulity later on in ur life and our country Nepal doesnot need such attitude people.It has already more than enough.If u want to go back,first pay ur loan.
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| Maina |
Posted
on 06-Aug-02 01:41 PM
Its funny to see all these so called experts giving various ideas..
What makes you think that you are giving the right advice ??
Its like seeing all those so called Nepal experts who came on in television when King Birendra died...everyone and anyone here is an expert on everything and anything...
Reflects Nepali society very well.. everyone is in anyone's business..Ko Bhanda Ko Kum
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| MmmBop |
Posted
on 06-Aug-02 02:04 PM
I agree with Maina,
That's why, if you're thinking seriously, you'd rather consult a lawyer to be sure. But again, they are so expensive.
Somebody said, that somebody wrote in this posting that US Marshall will come to Nepal to arrest you... I read the whole posts thoroughly and nobody said that. Please read the post clearly before passing comments.
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| Nams |
Posted
on 06-Aug-02 04:00 PM
Acharya,
I am sure u will not be bothered by the US department once u reach Nepal but do u think fleeing the country is the right idea? Ask any of your friends, everyone has loans to pay..it's not only u! When u signed for the loan u took a huge responsibility and now u just want to run away from it. I think u are just being coward. Look at u, u have a greencard..a liscense to work wherever u want. Just find a job (any kind of job) and try paying it off. I am sure u'll be able to do it. If we all start running then how are the credit card company going to trust anyone. Everything in this world is based on trust..if everyone starts cheating then this place will be a disaster.
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| Rastafarai |
Posted
on 07-Aug-02 12:37 PM
Use your Bahun Buddhi. Just like dem Bahuns did it to Nepal. Dem Bahuns are dem people that sold dem country and dem systam. But once in a whil dem get paybacks too. Like dem Poor brother was dem promised wid all dem gold and silva and dem all da money. Dem Kings people made dem eat dem Katto and made da brother take dem bath in da dirty riva. Dem people put dem guy on dem Elephant wid all dem funny clothes. Dem kings people put dem all graffitti on da elephant too. Now dem Kings people gave da brother dem nothing and dem people ask da brotha to get out of dem kingdom. So dem people should listen and learn from da such things. Good luck
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