debts
 

just a quick one been reading some threads on here and just wondering about debts!!!
i have student loan outstanding what happens with this as i wont have 13,000 big ones to pay it off gonig spare???
also will prob have a few other things to pay can you pay them from overseas and keep uk bank account open?? would want to keep one open here anyway and paying everything off before i go will make process hell of a lot longer as i dont have house to seel and the capital it would prodce to pay off everything.

any advice?

Re: debts
 

Yes, tell the loans company about your plans, and make an arrangement with them to pay monthly/quarterly/annually by standing order

Worst case scenario is that u r in oz, sending back part of your wages every single month.

Re: debts
 

thanks thought that was the case thought if i keep my uk acocunt open and transfer enough funds each month then there wont b a prob

thanks

Re: debts
 

Hi

Would it cost money to transfer money back to UK :confused:

Beth :)

Re: debts
 

Work hard pay off your debts then go, easy really ;)

Australia isn't going anywhere and best to make a new start with a clean slate.

Oh and Aus$ will be harder/longer to pay off UK£ debts

Re: debts
 

Agreed, try and get them down as much as possible b4 you go.

Re: debts
 

I have student loans as well and managed to defer payment for a year. However now things are different and I am paying 100 pounds a month - that works out to be nearly $250 - which depending on your salary might not be so easy to do. We also had credit card debt which we were sure we'd pay off once we were here but 2 years on and we're still in exactly the same debt. Your UK debt might not seem much when you're earning pounds but once you're on dollars its a whole lot harder. I'd try to clear as much as you can before you come over.
When transferring from our Australian account (ANZ) its easy but it costs around $22 a transaction back to the UK. We've kept a UK account so we can transfer a lump sum back every month or so and save on the fees.

Re: debts
 

Cheers everyone

from jobs research looks like hopefully around $1600-1800 per fornight so sending a few $ over each month or every two months shouldnt be so bad, pain i agree but dont want to wait too long before i go, saying that dont plan to go for 1 months or so so debt will be less by then

thanks again

Re: debts
 

Im not in that much debt, but enough. £3500. I decided to take on another job on the weekends to stop me from going out. Iv been able to put £700 / £800 a month towards it. Once its gone I'll either cut back on how many hours I do or jack it in. The sooner I have no debt, the sooner I can save more money.

The main down fall of this is Im so tired. 7 days a week dosnt do you any favours and the amount of time I spend with my mates.

Re: debts
 

god i can imagine not sure if i am just too lazy for that but i suppose the money yuo save not being able to go out id a lot!! Well it woukd be for me :beer:

Re: debts
 

I'm in the same boat with a bit more debt and my husbands not sleeping worrying. We are planning to be in Melbourne within the next 4 months,so I think your suggestion might help my husband sleep. When do you think we should write to the loan companies?

Re: debts
 

Good on you, Marco ... You may be tired now, but you'll be glad you did it in the end... :)