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Search: Posts Made By: Kram77
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Forum: Australia
Sep 17th 2018, 11:57 am
Replies: 17
Views: 2,585
Posted By Kram77

Re: Defaulting on Car Loan and returning to the UK - implications

Yes my daughter has a job and contributes to the household income. The problem is not them being able to afford the payments, should they stay. The problem, as mentioned in the initial post, is that...
Forum: Australia
Sep 17th 2018, 10:49 am
Forum: Australia
Sep 17th 2018, 7:47 am
Replies: 17
Views: 2,585
Posted By Kram77

Re: Defaulting on Car Loan and returning to the UK - implications

Not at all, I have made it very clear that I want to make sure they do the right thing. However, being that they are fully grown independent adults, albeit young and prone to silly mistakes, who live...
Forum: Australia
Sep 16th 2018, 11:21 am
Replies: 17
Views: 2,585
Posted By Kram77

Re: Defaulting on Car Loan and returning to the UK - implications

Completely agree - I want them to do the right thing. Also, they really don't want to be looking over their shoulder for the next 6 years.

However, from what I have read, people abandon cars all...
Forum: Australia
Sep 12th 2018, 6:33 pm
Replies: 17
Views: 2,585
Posted By Kram77

Re: Defaulting on Car Loan and returning to the UK - implications

You are right, mixing terminology. It is a Personal Contract Purchase - monthly payment with the option to purchase at the end by paying off the balloon amount.



Correct
Forum: Australia
Sep 12th 2018, 4:57 pm
Replies: 17
Views: 2,585
Posted By Kram77

Re: Defaulting on Car Loan and returning to the UK - implications

I am not sure your credit record follows you to another country... although I could be wrong. :unsure:

The real issue is if the finance company puts it in the hands of a debt collector in the UK -...
Forum: Australia
Sep 11th 2018, 11:13 am
Replies: 17
Views: 2,585
Posted By Kram77

Re: Defaulting on Car Loan and returning to the UK - implications

Thank you for the replies! :thumb:



But by abandoning the car on the dealers forecourt, surely you are defaulting on the loan, and therefore the finance company will repossess in accordance...
Forum: Australia
Sep 10th 2018, 1:38 pm
Replies: 17
Views: 2,585
Posted By Kram77

Defaulting on Car Loan and returning to the UK - implications

Hi,

My daughter and her partner have been Australia now for just over 2 years and in April of this year they decided to buy a new car, despite me telling them not to. They went in to the local...
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