In addition to credit card debt, debts such as those owed to financial institutions also fall into this category. In addition to credit card debt, debts such as those owed to financial institutions also fall into this category. As your financial situation improves, you can switch plans to a plan that focuses on repaying your debts faster. Moving abroad and leaving behind your debts doesn’t mean they would just go up and go away.
And if you’re struggling with debt, you might not have access to those funds, let alone the money you need to establish a residence in a whole new country.
References:
Barry Ritholtz is a renowned finance expert, author and blogger. With over 30 years of experience in the financial industry he has gained a reputation as a thought leader and influencer in the investment community.