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Repayment of Aussie debt after relocating overseas

Submitted by on Sat, 02/14/2009 - 11:39
Posts: 202330
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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?