What to do with debt when your leave?

[huggesy]

Hi,

 

Just wondered what people have done in the past, I am working my socks off to try and pay for everything and clear debt at the same time, unfortunatly there just isnt enough hours in the day for me to be about to earn enough in the next 5-6 months to clear everything and pay for everything and I'm not putting off arriving because of it.

 

Wondered if anyone had been in the same boat and what they did?

 

Thanks

[Guest NatsandSteve]

Hey, we are the same. Have saved so hard to save money but at the same time had to pay off debt...credit cards and over drafts. Even though we are going with less than we thought we would (we sort of forgot about our debt in the excitement of planning to go!) I am glad we are going with no debt! We didn't even have a holiday this summer to save money which was a first for us! lol

We have already paid for flights, 6 weeks worth of accommodation, cars and shipping and are still taking about £12,000. I just hope its enough to last us about 6-8 weeks!

[noworriesmate]

Hi,

 

Just wondered what people have done in the past, I am working my socks off to try and pay for everything and clear debt at the same time, unfortunatly there just isnt enough hours in the day for me to be about to earn enough in the next 5-6 months to clear everything and pay for everything and I'm not putting off arriving because of it.

 

Wondered if anyone had been in the same boat and what they did?

 

Thanks

 

If It's credit card, store card, bank loan etc debt then you can carry on paying it when you are over in Aus, if you choose not to continue to pay it then there is no reciprical agreement in Aus and they can't chase you (legally), however they can get CCJ's etc in the UK and you may find that if you ever return there to live it all comes back to bite you on the bum! if the debt is to the government (i.e. back tax etc) then they do have the power to come looking for you if they feel it's worth it.

 

NWM

[Guest moonraker1959]

I've read too many threads like this over the years.Surely if you can afford to emigrate,you should prioritise debts first!I truly don't understand why people think its ok to just jump ship.So my answer to you is pay them off before you leave.

[huggesy]

I've read too many threads like this over the years.Surely if you can afford to emigrate,you should prioritise debts first!I truly don't understand why people think its ok to just jump ship.So my answer to you is pay them off before you leave.

 

I wasn't implying that I was planning on jumping ship, I just wondered how people found the best way to manage and clear the debt whilst in another country. In hindsight I would never have got the debt in the first place but hindsight it a fantastic thing.

Paying the debt off is not an option whilst in the UK, as my visa doesnt have that much time left on it before I need to be in the country and I cant afford to pay out for it all again.

Unless working a 24 hour day suddenly becomes an option!

[Guest zidden]

I don't mean to pry. But do you have a job to go to in Australia? If not you will be adding more debt to your name.

[huggesy]

No we don't have jobs at the moment, my OH is a mechanic so we will be looking closer to the time of arrival for jobs for him, we already have 10 weeks rental, flights, removals organised to allow us a few weeks to get things organised. I need to organise some retraining for myself which I have already put the funding aside for and looking at course dates.

[jimmyskinner]

A ten week rental is a lot of money to throw away, you can find a long term rental in a couple of weeks we found. If you havn't got kids its easy to manage with the basics from IKEA until your stuff arrives.

[Jessica Berry]

Other people have posted about leaving their student debt in the UK, but UK companies have now wised up to this and set up over here to collect the debt. You know the saying...you can run but you can't hide!!!

[Guest guest8040]

We're working our bots off to pay it off before we go but if we don't we're keeping a UK bank account open (as we're renting our house out), and as we can do everything online we'll just continue to pay it off from Oz.

[Guest Guest5035]

I've read too many threads like this over the years.Surely if you can afford to emigrate,you should prioritise debts first!I truly don't understand why people think its ok to just jump ship.So my answer to you is pay them off before you leave.

 

As i answered before in a different thread, people these days want too many "i wants", then when people get so far in debt and they cannot pay it off and cry "help its not my fault".

 

To the op, if it was me i would put off coming here and paying off the debt as you don't want to be looking over your shoulder here and stressing..

 

Stevo

[Guest Chris_J]

Op have you validated yet? If not, why not validate the visa then come back when you can properly afford it? Sell your car? Loan from family if possible?

Who asked about £12k that may just be enough and my advice is be careful how you spend and will you be wanting to buy a car? We've spent £12.5k so far since the beginning of October and not in our long term rental yet though. The house we are having is not available til after Christmas so it's cost us in long term and we have also bought a car albeit a 2004 Astra for 8500 dollars with warranty. Bear in mind we also had 2 weeks in Perth as a holiday first.

[huggesy]

No we have already validated I have had my visa quite awhile as been waiting for my OH to complete his, so I loss my passport stamp to leave and return next november! I have already downgraded my car to get some money from that but plan to keep the money from selling my current car to put in the kitty for the car in OZ we only plan on buying an old banger until the finances are paid off and we can upgrade:jiggy:at least I dont have to worry about paying the mechanic!

 

I think I will just keep on with my 60hr 7 day weeks do my best to clear and pay for everything and then take it with me which had always been the plan, I didnt know if people would come up with an option I hadnt thought of.

[Guest Guest5035]

 

I think I will just keep on with my 60hr 7 day weeks do my best to clear and pay for everything and then take it with me which had always been the plan, I didnt know if people would come up with an option I hadnt thought of.

 

Heres one thought, if you don't manage to pay it off before you leave and bring it with you and when you arrive, say you can't get a job, how will you pay the debt off!!!

 

Stevo

[Guest Helchops]

Just to let you know that do far in Adelaide, we've spent $1000 because earnings have always outweighed what we spent...that was securing a job from uk however.

I say don't worry about it. If you can't afford it that's it, end of chat. Try and pay it back but if not (and assuming you're happy here) enter a debt management plan if you have to and pay it back more slowly.

 

People in here are so judgemental sometimes while sitting in their ivory towers, but look after yourself.

 

It's a civil debt not legal.

[Guest moonraker1959]

Just to let you know that do far in Adelaide, we've spent $1000 because earnings have always outweighed what we spent...that was securing a job from uk however.

I say don't worry about it. If you can't afford it that's it, end of chat. Try and pay it back but if not (and assuming you're happy here) enter a debt management plan if you have to and pay it back more slowly.

 

People in here are so judgemental sometimes while sitting in their ivory towers, but look after yourself.

 

It's a civil debt not legal.

Judgemental?Guess thats referring to me right?Ok so the OP is'nt apparently jumping ship,and is planning to fully pay off their debts at some point?And why should'nt they do that?Why would it be acceptable for example not to do that?In my eyes its the right thing to do.If not then its a form of theft is'nt it?So lets say a burglar gets caught red handed stealing all your belongings.If they said "Oh I was'nt stealing them,I was just "borrowing"them,and was planning on returning them when it suited me"would that be ok?Cause its the same thing is'nt it?So just because it might be a civil debt,it makes it ok not to pay up?I'm baffled!Just for the record I'm not sitting in any ivory tower either.I've toughed it out through the years,but unlike it seems the majority of people,I save for my stuff,and live within my means.I've just returned from 2 weeks in South India,and we did that by saving hard,not taking out loans or whatever and then expect to ditch them when it suits us.To the OP,if you sincerely planned on repaying all your debts,surely you don't need to come on a public forum to find out how you can pay them????Why not just realise that you contact said companies and make an agreement?Its not rocket science.

Edited November 18, 2012 by moonraker1959
spelling error

[Jenny]

If you cant pay it then stay there and pay it off because if your in debt over there then your going to be in more debt over here!!!! I just cant believe how people can do that.

 

Before anyone accuses me of being in an Ivory tower - that's my opinion and I would have never started a new life here, leaving debts behind, because if you cant pay your debts off there then what chance have you here!!!!!!!!!!. As I say, Just my opinion.

[Growler]

Wow the poor OP was only asking for advice not to get slated! Im emigrating to oz next year (employer sponsored visa and their paying for flights :-p ) I am in a debt management plan in the uk and will continue to pay it when im in oz. We had a thriving business before the recession then we lost our home, almost went bankrupt when it hit. People are very quick to judge ( i was too before this happended to me). We tried so hard and no matter what we did we couldnt stop our downward spiral. The banks were very quick to give me two credit cards when i started uni at 18 and an overdraft!! I say go to oz, decide whether its for you as you wouldnt want to come back to more trouble if ever you decided it wasnt for your family . I know you can bankrupt yourself from Australia (worst possible scenario) i saw it on Pomsinoz (PM me if you need the link) People should not be too quick to judge as before you know it you can very easily be in the same position! Say what you like, you havnt walked in my shoes and seen the hell weve gone through all this on top of losing our loved ones and everyday life. Good luck in whatever you decide and remember put your family first x

[huggesy]

What a can of worms this seems to have opened, there seems much confusion about it, at no point did I say I was leaving my debt behind, at no point did I say I was struggling to made my repayments I merely said I would be unable to clear them before leaving next year, interesting how people have jumped to their own negative conclusions.

 

I had just been wondering how previous people going out had managed the debt for example had they experienced problems with given an address abroad or what companies people would suggest for transfering small amounts over to make the most of the exchange rates or if getting an Australian loan to clear it was an option or just retain it in the UK until it is clear.

In an ideal world we would go out being debt free, but that is not always the case situations arise.

 

Having used this forum previously and asked a few questions and picked up loads of really useful pointers I had thought I would be able to learn from the others who have gone before and the experiences they have gone through with similar situations, as there may have been other solutions I had not through of that people had done, yes I have made mistakes with my money but that doesnt stop me from learning from it, and passing on my knowledge to others so they can learn from my mistakes instead of making the same ones.

 

For those who have contacted me thank you for the information it is much appreciated and you are a credit to this forum, for those who have made snap judgements..................

[Guest moonraker1959]

Its natural to judge,and to those who don't agree,ask how many times you've looked at someone and passed judgement without even knowing anything about them?Can you honestly say you never have?To the OP,we judge on what you say/don't say so maybe elaborate more next time.As I said before its not rocket science to work out you have to contact the companies and ask them how you can manage your debts.I'm sure they'll offer a solution.Good luck with the move,I hope you manage to find employment so you can stay honest.

[pjg5uk]

I use CITIBANK to transfer money back to the UK, as they do not charge for international transfers and the exchange rate seems to be about 1.5-2% of the quoted exchange rate. This arrangment works fine for me sending about $800 a month to the UK.

 

I hope this helps.

[Guest Jennet]

What a can of worms this seems to have opened, there seems much confusion about it, at no point did I say I was leaving my debt behind, at no point did I say I was struggling to made my repayments I merely said I would be unable to clear them before leaving next year, interesting how people have jumped to their own negative conclusions.

 

I had just been wondering how previous people going out had managed the debt for example had they experienced problems with given an address abroad or what companies people would suggest for transfering small amounts over to make the most of the exchange rates or if getting an Australian loan to clear it was an option or just retain it in the UK until it is clear.

In an ideal world we would go out being debt free, but that is not always the case situations arise.

 

Having used this forum previously and asked a few questions and picked up loads of really useful pointers I had thought I would be able to learn from the others who have gone before and the experiences they have gone through with similar situations, as there may have been other solutions I had not through of that people had done, yes I have made mistakes with my money but that doesnt stop me from learning from it, and passing on my knowledge to others so they can learn from my mistakes instead of making the same ones.

 

For those who have contacted me thank you for the information it is much appreciated and you are a credit to this forum, for those who have made snap judgements..................

 

 

hi

I see your a junior member, so new to this, so i would say don't bother with this forum its the same people judging and commenting like their a walking angel or i would say haven't lived, do what you want and what you want for you family and i wouldn't bother coming on this forum for advice you'll get nothing but advising crap from the same old boring never had a life people who think their better than everyone else

 

its disgusting and they should not be allowed to comment on this forum, people are now having to live being in debt they are obviously not reading what you are writing they are too quick at picking out negative words and judging from that word

its always been the same so save yourself from it and don't bother.

 

have nice xmas

[NicF]

hi

I see your a junior member, so new to this, so i would say don't bother with this forum its the same people judging and commenting like their a walking angel or i would say haven't lived, do what you want and what you want for you family and i wouldn't bother coming on this forum for advice you'll get nothing but advising crap from the same old boring never had a life people who think their better than everyone else

 

its disgusting and they should not be allowed to comment on this forum, people are now having to live being in debt they are obviously not reading what you are writing they are too quick at picking out negative words and judging from that word

its always been the same so save yourself from it and don't bother.

 

have nice xmas

 

Bit of an extreme reaction. There are only a couple of judmental people commenting on the post - everyone else was fairly practical. I think. Assuming I read the posts correctly.

 

To the OP, I haven't commented on the post previously because I have no practical experience of paying off debt from another country but I hope things work out for you. Like the previous poster I think you should ignore those sitting in judgement but please don't leave the forum as there are people on here who are prepared to offer advice without judging.

 

To those making comments about not getting in to debt I take it you have never had a mortgage either. Very easy to end up with serious problems in unexpected circumstances even if your only debt is a realtively small mortgage. Or maybe you think people shouldn't buy there own homes unless they can save the full asking price?

[Anne B]

This thread highlights the huge differences between people and their attitude to debt.

 

I think it is partly down to your age and how your parents brought you up. Personally I have always tried to avoid taking on debt as much as possible and prefer to save up for things first whenever possible.

 

However, throughout the 1990s and 2000s people were positively encouraged to get into debt by the banks, and nowadays if you want to go to Uni you are left with a huge debt before you even start working. It is largely all this debt that led to house price booms and busts and all the economic woes of the GFC. You can't, on a individual and national level, carry on living beyond your means forever. Most governments are massively in debt themselves (not exactly setting a good example), banks that go bust get bailed out by the taxpayer so what message does that send the individual??

 

The UK was one of the worst nations in terms of personal debt (remember all those warnings about the credit crunch before the GFC hit)? Australia, although its economy hasn't been hit as hard as the UK, has levels of household debt which are just as high. So it's no better here.

 

There is justifiably a lot of bitterness felt by those not in debt, who feel that they have acted prudently, towards those that are in debt. This is mirrored on a national scale, for example many Germans resent having to bail out a hugely indebted Greece. Getting into debt became the norm and now thousands of individuals are paying the price. It is a huge problem for the whole of society. Many people are learning the hard way that easy credit doesn't always lead to an easy life.

 

To the OP my only advice would be to try and pay off your debt as soon as you can so that you can start your new life with a clean slate. Once you are debt free then make sure you don't get back into it - easier said than done I am sure. The only positive is that whilst the Aussie Dollar is high, then any money you send back to the UK will go further.

Edited November 19, 2012 by Anne B

[Guest Jennet]

Bit of an extreme reaction. There are only a couple of judmental people commenting on the post - everyone else was fairly practical. I think. Assuming I read the posts correctly.

 

To the OP, I haven't commented on the post previously because I have no practical experience of paying off debt from another country but I hope things work out for you. Like the previous poster I think you should ignore those sitting in judgement but please don't leave the forum as there are people on here who are prepared to offer advice without judging.

 

To those making comments about not getting in to debt I take it you have never had a mortgage either. Very easy to end up with serious problems in unexpected circumstances even if your only debt is a realtively small mortgage. Or maybe you think people shouldn't buy there own homes unless they can save the full asking price?

 

 

Why is that an extreme reaction, its a fact, i think there's more than a couple judging this person, so wheres the moderators telling people not to answer if they cannot be adult about certain situations or their answer, if they cannot advice in an adult manner or have an answer that they know nothing about to a poster's question why are they judging, whats the point in it

 

Er i thought it was an advice forum not a bullying forum that i have seen numerously it gets out of hand, do not you realize people comment alot about this forum how degrading it is