Repayment of Aussie debt after relocating overseas
Date: Sat, 02/14/2009 - 11:39
I have re-located overseas and have no immediate plans of returning to Australia. Before leaving I sold a property and paid off my mortgage but left about 70K of other debts behind (personal loan and credit cards). I have been trying to make regular payments on these from overseas but sometimes I cannot meet the payments on time. I would prefer to pay this debt off rather than running away from it but right now I am struggling to do so. Are there any logical solutions for me? Are my creditors likely to enter into any agreements with me if I say approach each lender and offer to repay half the debt immediately and have the rest scrapped, or is this wishful thinking?
Hi Guest, Yes, definitely, offer a settlement. They can't rea
Hi Guest,
Yes, definitely, offer a settlement. They can't really collect on you outside the country, so it benefits them to accept a reasonable offer.
Welcome to the Community, and I hope you stick around!
chrys