If it's any use to you, we were kindly informed by the Commowealth Bank in London that should we take out a loan prior to our move to Oz, and then default on the payments, it would have no repercussions on our credit rating over here!Yeah I couldn't believe the "advice" we were given.
We have a properety in th UK that is in negative equity, but luckily we have a tenant in it and that covers our mortgage. We have four credit cards but have paid off all balances apart from one and that't interest free until October and has less than £1000 to pay off.
Life in Oz isn't cheap, we all know the expense of cars ets, we've gone from a Lexus and Saab to and old Magna and an even older Jackaroo. However it was our choice to migrate and every morning I feel blessed that I'm here, living my own little version of "the dream".
I work, my partner has been looking for a job since we arrived, and hopefully she will be rewarded for her efforts soon. I agree with most people on here in that what you propose to do is morally wrong, sell yopur home and do the right thing.
I could do what you're planning to do but I couldn't live with myself, why didn't you sell up and clear your credit cards before you came?
It's up to you, and you should have probably kept your ideas between yourself and your other half.