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I only have about $5000 debt, but I want to move out of the country & save my money. Bankruptcy?
I've carried this debt for a few years unable to pay for it. I've been wanting to leave the US for a while, and have an opportunity to move within a year. If I pay off that debt that takes out of the funds I'll have for moving and starting my life. I'm considering filing bankruptcy since I know I will likely not be moving back to the US, at least not for a few decades. I don't want to leave with debt and have them come after me for such a small amount, but it's a large enough amount that with what I make it's still too much to pay back in a year and still have money to get by and save to move.

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Filing bankruptcy so you can save your money to move out of country and begin a new life????? NOT GONNA HAPPEN!!!!! You have to reveal everything when you file and your savings would be used to  pay the debt.  Instead, look up the 'statute of 'limitations on collections' and see what it is in your state. Since you said you have owed this for several years, it is possible the SOL has expired and you do not have to pay the debts.  If the SOL has not expired, then you need to read on how to negotiate a 'pay for delete', arrangement and you can find that information in the articles on this site.  That would be a very responsible thing to do.    

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Wow.....all I can say is America will be better off once you are gone if this is how you approach everything in life.  Pay the money you promised.

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Oh, it gets worse...

When you renounce your citizenship, the IRS will immediately demand that you immediately pay all taxes owed to that point in time, *plus* they will demand a percentage of all assets you own before you leave.

Also, unless you specifically move to a country with no extradition treaty (there are only a handful of those, and North Korea isn't exactly a popular destination), you can be chased across international borders, liens placed on any property you own overseas (*plus* reasonable legal fees), and worse.

...did I mention that most civilized countries have some rather high (and expensive!) immigration requirements before they let you live there as a citizen?

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