What is the statute of limitations in Japan of credit card debt?
What is the statute of limitations in Japan of credit card debt?
A friend of mine has left Japan and said that he has a $ 1000 debt with a Japanese credit card and doesn’t have enough money to pay it back. Is there a limit of time where the debt will cease to be chased by the Japanese company?
Best answer:
Answer by english rosethorn
Usually debt is not recalled internationally.
A thousand dollars is not what I would call worth chasing anyway.
Probably once they find he/she has left the country it will just be written off but usually the period before it disappears is between 6 and 15 years.
The loan could come back to haunt if he ever goes back to Japan at any time, he may be liable to repay the loan at compounded interest and could owe millions.
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