MasConcepts Incorporated

Hello everyone. I have been stalking this group for a while now, I figured it’s finally time to post my situation and get some advice.

Long story short, I was a decent earner 2020-2023. In early 2024 I moved out of the US with my family abroad, and my income dropped 2/3rds. Which was fine, my business covered my expenses for that year. It was essentially break even. At this time I had been carrying about $20k in CC debt that I was just bouncing around on 0% APR offers.

Fast forward to 2025, I lost $50,000 from my business and my income (job) dropped significantly again. For reference my 2025 tax returns will show about $14,000 in income and a $50k business loss. I also took out some more balance transfers (this time as cash. Don’t get it confused with cash advances, these were 0% APR balance transfers where they send you a check in the mail as opposed to paying off a balance directly).

My current situation

$15000 car paid off

$4500 in cash overseas

$35,000 in cash still in the US

$53,000 CC debt (all balance transfers)

All my CC debt is still 0% APR and have been making the minimum payments. I’m not late yet and not in “trouble” yet. The 0% APR balance transfers expire in June this year and interest kicks in. Once interest kicks in, payments will jump from $650 a month to about $2500.

I could use the cash to make the payments but without supplemental income it’s a losers game, I’ll run out of cash and still have $30,000 left or so in debt.

I talked to a bankruptcy lawyer and he refused to take my case. I don’t know why, maybe because I live overseas.

What should I do now? Should I just not pay the debt back, what are the ramifications? If I move all the cash overseas and just stop paying, is that illegal? I don’t plan on coming back to the US any time soon, if ever. I am a US citizen, I have a life abroad.

Of course the ideal situation is to increase my income but with the business drying up and my current yearly salary around $20,000 paying these debts seems impossible. Even with the $35,000.

Does anybody have any ideas? One thing the lawyer mentioned was just filing bankruptcy if/when I ever move back.

Thanks all.

Edit: I last lived in Texas. I maintain US checking and savings accounts. I have an active drivers license (texas). Last US address is also Texas.