Original Message:
Re: Instead of kids paying to unload TS, can parents "will" it to Obama? (by Dave K.):
The only benefit you gain by being in Canada and having a TS in the US is that in the event of a default (by whomever) any chasing of the debt needs to be done by a Canadian based collections agency if they want to obtain a legally binding judgement against you in Canada. If the TS is in Canada then the same applies to a US owner, it needs to be a US based agency. However, for a home based TS then you're on the hook. Unless a country of residence agency is involved your credit report won't be affected. Getting another country's agencies involved is a costly excercise for the TS owners and is unlikely to be pursued unless the debt is huge since it won't be worth their while. Not impossible, but unlikely.