I have about 60,000+ CDN in debt. Most of it is in student loans, osap(provincial) and federal loan.
I was thinking of just paying off my visa and my small student loan attached to my bank account. Closing my bank. And then just ignoring my other loans.
I live in South Korea now, and am married to a Korean.
It was stated in the monthly article that Canada and the UK have an agreement which allows the debt to be collected in the other country.
Is this the same between South Korea and Canada?
I have no personal problem with avoiding the debt. I just don't want it to come back and bite me later.
Also. Assuming they never were able to come collect in Korea, could they affect my Canadian passport at all. For instance, put a warrant or something such that if I ever went back to canada to visit I would be flagged and then forced to a court date or something.