Help - Can RBC Bank (US) come after me for $25K US debts?!
I and have tons of debt - mainly in a LOC at RBC Canada (42k CAD out of a 50k limit) and at RBC Bank USA (25K USD). I stopped paying the US debt as I am hoping that won't ruin my credit history. I can't afford to repay it.
I am still paying the RBC Cdn LOC but the have put a limit now on my LOC and two credit cards (I guess to make sure I don't get into further debt). RBC US keeps calling me from 8:00am until 8:00pm.
I was given the US-based credit card as I had good credit two years ago and unfortunately it has been maxed out now. I have no social security number or any credit history at all in the US. This is the page that discusses the program: https://www.rbcbank.com/cross-border/us ... creditcard
I want to know what will be the impact to me in practical terms? Can RBC Canada come after for debts held by RBC US? Can they take me to court in Canada? Can they transfer the debt to my Canadian credit cards or somehow have it show up in Canada? Can they tarnish my Cdn credit history? I am so stressed.