debt in uk
Oct 28th 2006, 4:05 pm
#16
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Posts: 3,997
Re: debt in uk
Originally Posted by stuckinblighty
Has anyone had any experience coming to a settlement figure on credit card debt.for example if i owe £10,000 would they except a 'take it or leave it' settlement of £5,000 ?Would this have any effect on your credit rating in here or in Aus ?
Any info greatly appreciated
lee
Any info greatly appreciated
lee
If you've spent £10k then isn't this what you pay back
Oct 28th 2006, 4:07 pm
#17
shoot from the hip,baby
Joined: Mar 2006
Location: Uk
Posts: 1,405
Re: debt in uk
Originally Posted by rugbymatt
The only reason i say that is because of the exchange rate.
I had an overdraft in the Uk which I tried paying off while in oz. Due to the exchange rate it was an absolute nightmare.
I never had enough money no matter how many extra shifts I did and the financial side of life in Oz definately contributed to me returning back to the UK.
Please don't put yourself in the same position as I did. Debt just sits there like a bad smell and believe me no matter how hard you try to forget about it - it's always there,waiting to catch up with you!
Start your new life in Oz debt free, free from worry and financial commitments back in the Uk. It's the LAST thing you need if you want to give yourself a decent start in a new country.
*Pearly*
Oct 28th 2006, 4:10 pm
#18
pink 'n' bouncy
Joined: Jul 2006
Location: Zombie nation
Posts: 6,087
Re: debt in uk
Originally Posted by phoenixinoz
Why would you want to offer a credit card company less than you owe?
If you've spent £10k then isn't this what you pay back
If you've spent £10k then isn't this what you pay back
Anyway this query was for 'a friend'
Oct 28th 2006, 4:23 pm
#19
Lost in BE Cyberspace
Joined: Jun 2005
Location: Oz -> UK -> San Diego
Posts: 9,912
Re: debt in uk
Originally Posted by stuckinblighty
The way of the world i'm afraid.Credit card firms have no qualms about shafting punters so get out of them what you can.
Anyway this query was for 'a friend'
Anyway this query was for 'a friend'
Please don't come to Australia - we don't want irresponsible debtors.
Oct 28th 2006, 4:26 pm
#20
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Posts: 3,997
Re: debt in uk
Originally Posted by stuckinblighty
The way of the world i'm afraid.Credit card firms have no qualms about shafting punters so get out of them what you can.
Anyway this query was for 'a friend'
Anyway this query was for 'a friend'
Whilst I'm not here to judge [that's for you to do based on your own values] I can't understand why anyone would want to borrow money based on their spending...and then not feel it was their responsibility to pay it back
A "take it or leave it" attitude sounds like you are doing someone a favour when actually you have spent it....so you owe it......don't you
Oct 28th 2006, 5:13 pm
#21
pink 'n' bouncy
Joined: Jul 2006
Location: Zombie nation
Posts: 6,087
Re: debt in uk
Originally Posted by Ozzidoc
Please don't come to Australia - we don't want irresponsible debtors.
please do not judge.In no way could i EVER be described as irresponsible.It was a question to a hypothetical situation thats all.
If i get my visa i shall be going to Australia .... with or without your blessing.
regards,lee
Oct 28th 2006, 5:15 pm
#22
pink 'n' bouncy
Joined: Jul 2006
Location: Zombie nation
Posts: 6,087
Re: debt in uk
Originally Posted by phoenixinoz
You'll find the way of the world is that the majority of people do pay off their debt. Those that don't pay off their debt create the costs to go up for those that do. Credit card companies don't lose out, but the decent everyday customer does.
Whilst I'm not here to judge [that's for you to do based on your own values] I can't understand why anyone would want to borrow money based on their spending...and then not feel it was their responsibility to pay it back
A "take it or leave it" attitude sounds like you are doing someone a favour when actually you have spent it....so you owe it......don't you
Whilst I'm not here to judge [that's for you to do based on your own values] I can't understand why anyone would want to borrow money based on their spending...and then not feel it was their responsibility to pay it back
A "take it or leave it" attitude sounds like you are doing someone a favour when actually you have spent it....so you owe it......don't you
end of story.
Oct 28th 2006, 5:18 pm
#23
Joined: Aug 2003
Posts: 8,147
Re: debt in uk
Originally Posted by sassenach
why would anyone not pay what they owe ?and also for all those that are coming here most by and large will settle well into australian life but the few that dont will feel like they have to stay if they have a bad credit history in the uk.
Its only a matter of time before the banks etc get their act together and it wont be long with the likes of bush,blair and howard running the show that it will be made legal to run credit searches on citizens and PRs in other countries .
Its only a matter of time before the banks etc get their act together and it wont be long with the likes of bush,blair and howard running the show that it will be made legal to run credit searches on citizens and PRs in other countries .
they didnt say they werent going to pay, just if the debt would affect them when they got to perth,
and the second poster said they werent going to pay theirs before they left, not that they werent going to pay them.
Oct 28th 2006, 5:22 pm
#24
pink 'n' bouncy
Joined: Jul 2006
Location: Zombie nation
Posts: 6,087
Re: debt in uk
Originally Posted by tiredwithtwins
they didnt say they werent going to pay, just if the debt would affect them when they got to perth,
and the second poster said they werent going to pay theirs before they left, not that they werent going to pay them.
and the second poster said they werent going to pay theirs before they left, not that they werent going to pay them.
All i did as ask a question about a certain set of cicumstances.
A lesson in one persons morality was was requested.
Regards,lee
Oct 28th 2006, 5:26 pm
#25
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Location: Was newcastle upon tyne / Now Merriwa, Perth WA
Posts: 131
Re: debt in uk
Originally Posted by stuckinblighty
Thanks.
All i did as ask a question about a certain set of cicumstances.
A lesson in one persons morality was was requested.
Regards,lee
All i did as ask a question about a certain set of cicumstances.
A lesson in one persons morality was was requested.
Regards,lee
Oct 28th 2006, 5:28 pm
#26
Lost in BE Cyberspace
Joined: Jun 2005
Location: Oz -> UK -> San Diego
Posts: 9,912
Re: debt in uk
Originally Posted by stuckinblighty
Did i ever once state that i owed money ? NO
end of story.
end of story.
Really?
Originally Posted by stuckinblighty
The way of the world i'm afraid.Credit card firms have no qualms about shafting punters so get out of them what you can.
Anyway this query was for 'a friend'
I wonder how I got the wrong impression?
I'm not here to shit stir (contrary to what it may look like), I just cannot see why you would say what you have so far.
And, FWIW, I agree with others who have said that sending back dollars to pay off debts in UK can be very painful. Admittedly tho it's better than the days of $2.9 to the £.
It is alot easier to get cash in Oz than in the UK (for mortages etc), but also a lot easier for the bank to reposses. Missed ONE payment? Automatic breach of contract - bank wins. Kerching. (Expose on 60 mins earlier this year.)
Oct 28th 2006, 5:32 pm
#27
Straw Man.
Joined: Aug 2006
Location: That, there, that's not my post count... nothing to see here, move along.
Posts: 46,302
Re: debt in uk
Originally Posted by stuckinblighty
Has anyone had any experience coming to a settlement figure on credit card debt.for example if i owe £10,000 would they except a 'take it or leave it' settlement of £5,000 ?Would this have any effect on your credit rating in here or in Aus ?
Any info greatly appreciated
lee
Any info greatly appreciated
lee
I think that the only way you could do this is by applying for personal bankruptcy that way they have to accept a settlement, otherwise I'm pretty sure that their attitude is, " you spent it, you pay it"
From what i understand if there hasn't been a court case or judgement against you they will find it hard to recoup their money from OZ, if however there has been then they have the right to pursue it anywhere.
Just to note, if its the credit card company then they are bound to have either partners in OZ or are trading out there, in which case, the second you apply for a mortgage, or even a phone they will know!
Another note about the personal bankruptcy is that while it only lasts a very short time the myth that your clear after it is just that, a myth. They may well keep coming after you 'till they get whats owed. I stress the word MAY.
Oct 28th 2006, 5:34 pm
#28
pink 'n' bouncy
Joined: Jul 2006
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Posts: 6,087
Re: debt in uk
Originally Posted by rugbymatt
I think that the only way you could do this is by applying for personal bankruptcy that way they have to accept a settlement, otherwise I'm pretty sure that their attitude is, " you spent it, you pay it"
From what i understand if there hasn't been a court case or judgement against you they will find it hard to recoup their money from OZ, if however there has been then they have the right to pursue it anywhere.
Just to note, if its the credit card company then they are bound to have either partners in OZ or are trading out there, in which case, the second you apply for a mortgage, or even a phone they will know!
Another note about the personal bankruptcy is that while it only lasts a very short time the myth that your clear after it is just that, a myth. They may well keep coming after you 'till they get whats owed. I stress the word MAY.
From what i understand if there hasn't been a court case or judgement against you they will find it hard to recoup their money from OZ, if however there has been then they have the right to pursue it anywhere.
Just to note, if its the credit card company then they are bound to have either partners in OZ or are trading out there, in which case, the second you apply for a mortgage, or even a phone they will know!
Another note about the personal bankruptcy is that while it only lasts a very short time the myth that your clear after it is just that, a myth. They may well keep coming after you 'till they get whats owed. I stress the word MAY.
lee
Oct 28th 2006, 5:42 pm
#29
Straw Man.
Joined: Aug 2006
Location: That, there, that's not my post count... nothing to see here, move along.
Posts: 46,302
Re: debt in uk
Originally Posted by stuckinblighty
Thanks for the info Matt
lee
lee
Good luck with whatever they do, i hope they make the right decision, what that is depends on the individual, not an internet forums opinion.
I have to say that while I'm not endorsing the attitude of running away from stuff there are a lot of people who simply cannot pay back money to unscrupulous credit companies, and i agree, they deserve everything they get. Have no sympathy for them please, they use filthy tactics all the time to trap and steal.
As the song goes. "Sympathy for the devil"
Oct 28th 2006, 5:45 pm
#30
pink 'n' bouncy
Joined: Jul 2006
Location: Zombie nation
Posts: 6,087
Re: debt in uk
Originally Posted by rugbymatt
Good luck with whatever they do, i hope they make the right decision, what that is depends on the individual, not an internet forums opinion.
I have to say that while I'm not endorsing the attitude of running away from stuff there are a lot of people who simply cannot pay back money to unscrupulous credit companies, and i agree, they deserve everything they get. Have no sympathy for them please, they use filthy tactics all the time to trap and steal.
As the song goes. "Sympathy for the devil"
I have to say that while I'm not endorsing the attitude of running away from stuff there are a lot of people who simply cannot pay back money to unscrupulous credit companies, and i agree, they deserve everything they get. Have no sympathy for them please, they use filthy tactics all the time to trap and steal.
As the song goes. "Sympathy for the devil"
"please allow me to introduce myself,i'm a man of wealth and taste"