leanne1287 Posted March 21, 2013 Share Posted March 21, 2013 Been here in Brisbane 4 years every day is getting harder to be here, I find most days driving home from work I break down and cry. I feel so desperate and can't see any way out. We have two cars loans and a credit card. Found it so hard to get any kind of credit when we first arrived, we used all our saving keeping us here till we both got jobs. So we turned to the banks no help with a small loan to get us started but would give us a credit card. Used that limit quickly so they were happy to up it but again not happy to give us a small loan so now we owe a fair amount on the card. Got our self two new cars, which we just cant hand back. Were working hard paying extra off the cars and cards moving into a smaller house to pay less rent , this will save us an extra $400 a month, giving ourselfs till Aug 2015. But I'm finding everyday harder and harder, my hubby feels the same. We would love to drop everything and just go but were not that kind of people. But if the banks wont help with a loan we have no choice but to stay and work at paying the debts off. How many other people are trapped and feel like there is no way ou? Quote Link to comment Share on other sites More sharing options...
BelgianBun Posted March 21, 2013 Share Posted March 21, 2013 Hi... I felt like that in a previous life due to ex's (French) spending habits... did leave everything behind in France and returned to UK. I'd recommend it - clean break! Quote Link to comment Share on other sites More sharing options...
Chortlepuss Posted March 21, 2013 Share Posted March 21, 2013 So sorry to read your story - I wish the 'roads are paved with gold' readers would understand it doesn't always work out for the best. You are not alone in doing it tough, and the good news is that you both have jobs and seem to have the means and a sensible plan in place to get yourself out of debt. 2015 is my intended escape year and it seems like a long way off - but you have something to aim for. Brisbane is a miserable place to be skint - so much centres around expensive activities like meals out etc and I hate telling people I can't meet up because of lack of $$ is there any reason why you can't sell your cars and pay off your debts from the UK? Quote Link to comment Share on other sites More sharing options...
Petals Posted March 21, 2013 Share Posted March 21, 2013 Sounds to me that your money woes are not helping matters. There are free people you can see who will help you through this. Credit cards are a nightmare, I know both my kids got into trouble with them at one time. Now they have debit cards. Moving to one of the other banks which offer low interest on balances may help if you are strict on yourselves to pay them off. Hope things get better for you soon. Quote Link to comment Share on other sites More sharing options...
Perthbum Posted March 21, 2013 Share Posted March 21, 2013 Not nice when you are trapped in a country you do not want to be in, I know it wrong but I bet there is plenty who have just upped and left everything. Quote Link to comment Share on other sites More sharing options...
Skani Posted March 21, 2013 Share Posted March 21, 2013 Are you sure you can't sell your cars? That would seem the obvious place to start. Quote Link to comment Share on other sites More sharing options...
Guest Guest72037 Posted March 22, 2013 Share Posted March 22, 2013 Could you maybe visit a debt consolidation company (not a bank) to try and get the credit cards and car loans sorted at a lower and more manageable rate of interest? That might help relieve the financial pressure a bit and you could focus on paying off the principal amount. I'm not sure how feasible this is on a visa but it could be a possibility. Someone else mentioned selling the cars. If you can't sell both, could you possibly sell one and either buy a cheap run around or manage with 1 car? Hopefully once you've got the finances semi under control things won't feel so hopeless and you could then focus on planning for the move back. Good luck. Quote Link to comment Share on other sites More sharing options...
leanne1287 Posted March 22, 2013 Author Share Posted March 22, 2013 Thanks for all the reply's we are paying extra each month on our car loans, hubby thinks that by this time next year with the extra payments we will be able to hand them back. As the amount paid back should be what the cars will be worth at resale. It's just hard some days to see past the debts to the light at the end of the tunnel. I know what we're doing is the right thing for us both as we want to go back debt free and with some saving's to see us right for the first few months. We still have our home as we rent it out. So glad we couldn't sell it, at least we wont have to try and get back onto the property ladder. Fingers crossed the time will fly by. Just feels like life is passing us by and we're missing out on so much back HOME. We've had some great time's here, but this will never be home. Family and friends make us the people we are, and every day were here we lose another piece of us. Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted March 22, 2013 Share Posted March 22, 2013 I wouldnt normally advise this, but i agree with some of the other posters. If you are so miserable here it is bringing you to tears then i think getting you happy is more important than anything else. Certainly a lot more important than having a principle about owing money. Leave the cars, buy a plane ticket and go. Quote Link to comment Share on other sites More sharing options...
northshorepom Posted March 22, 2013 Share Posted March 22, 2013 Thanks for all the reply's we are paying extra each month on our car loans, hubby thinks that by this time next year with the extra payments we will be able to hand them back. As the amount paid back should be what the cars will be worth at resale. It's just hard some days to see past the debts to the light at the end of the tunnel. I know what we're doing is the right thing for us both as we want to go back debt free and with some saving's to see us right for the first few months. We still have our home as we rent it out. So glad we couldn't sell it, at least we wont have to try and get back onto the property ladder. Fingers crossed the time will fly by. Just feels like life is passing us by and we're missing out on so much back HOME. We've had some great time's here, but this will never be home. Family and friends make us the people we are, and every day were here we lose another piece of us. If that's the case and you're not coming back, just go. Another 1 or 2 years of feeling like that? Life's too short. Taking out loans for new cars was probably foolish and unnecessary in the first place but you live and learn. Go home and start living your life again Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted March 22, 2013 Share Posted March 22, 2013 So sorry to read your story - I wish the 'roads are paved with gold' readers would understand it doesn't always work out for the best. You are not alone in doing it tough, and the good news is that you both have jobs and seem to have the means and a sensible plan in place to get yourself out of debt. 2015 is my intended escape year and it seems like a long way off - but you have something to aim for. Brisbane is a miserable place to be skint - so much centres around expensive activities like meals out etc and I hate telling people I can't meet up because of lack of $$ is there any reason why you can't sell your cars and pay off your debts from the UK? I wouldn't call going out and buying 2 new cars on credit even trying to do it tough. You have to cut your cloth. When we came we had a fair it of money behind us due to selling up in the UK. My wife got a job straight away but I was out of work for 5 months. We survived on one car and I bought a push bike with a childs seat on the back to get the nipper around. Quote Link to comment Share on other sites More sharing options...
The Yuills Posted March 22, 2013 Share Posted March 22, 2013 No need to stay where you do not want to be..... talk to the finance company tell them you have to leave Australia, they surely can arrange for payments to be made from the UK and credit card companies definitely can. then again maybe by the time you down size...sell things you would have enough to pay most of it before your intended date. Quote Link to comment Share on other sites More sharing options...
Victoriagal Posted March 22, 2013 Share Posted March 22, 2013 Personally I have never bought a car on finance, nor have I ever bought brand new, they depreciate the minute you drive out the garage (not talking about the odd one that does increase in value but never been in that market either!) and can't bring myself to pay the over inflated Interest rates to the robbing finance companies. I'm a straight up type of person that has no debt of any kind as I can't cope with the situation whereby I can't just up-sticks and move to where I need to be. My moves can be for financial or emotional wellbeing and honey in your situation you will be emotionally bankrupt soon if you come home crying every day. Do yourself a huge favour and hand the keys back to the finance company, they will not suffer! Pack up and go home and if you really feel bad sort out repaying your credit cards from UK. Internet banking makes it all possible. Credit to your moral compass but its really not worth making yourself ill over and there are people with more money committing worse 'crimes' in the name of business or politics that are not losing sleep! Quote Link to comment Share on other sites More sharing options...
Parley Posted March 22, 2013 Share Posted March 22, 2013 Really, I don't have much sympathy if you were silly enough to buy 2 new cars on car loans when you were struggling to get finance through a regular bank. We all need to take responsibility for our actions and I don't support running away from debts. Get rid of one of the cars if you can and work towards paying the other off quickly. And live within your means. Cut up the credit card and don't make any more rash purchases. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 22, 2013 Share Posted March 22, 2013 (edited) Save up, pack your stuff off to the UK - sure thats a few grand so wont take too long. miss a few car payments and buy a flight then just do one. No point killing yourself Or did you do the same in the UK to get here? To be honest after skinting yourself, what on earth possesed you to go and buy 2 cars? Edited March 22, 2013 by dustyroad Quote Link to comment Share on other sites More sharing options...
leanne1287 Posted March 22, 2013 Author Share Posted March 22, 2013 No we have never run away from a debt and not about to. When we purchased the cars we were happy and needed the cars for work. Bought new as again we could not get a loan from bank but the car finance company happy to give us finance. People change and situation change. We can more than afford the repayments that's why we pay extra each month. Yes we've done this to ourself maybe this a lesson future migrants can learn from. Going home last year made us realise what kind of life we actually wanted. Family is what is important to us! Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted March 22, 2013 Share Posted March 22, 2013 If you are so unhappy then go home, and pay ex amount back each month. There are lots of people who make the move and opt for the biggest house with pool, brand new cars etc, its like they have to prove they have a better life here. Hopefully people will read your post and realise not to jump in to things. Good luck and I hope you get sorted quickly Quote Link to comment Share on other sites More sharing options...
Guest Andy Posted March 22, 2013 Share Posted March 22, 2013 If you are so unhappy then go home, and pay ex amount back each month. There are lots of people who make the move and opt for the biggest house with pool, brand new cars etc, its like they have to prove they have a better life here. Hopefully people will read your post and realise not to jump in to things. Good luck and I hope you get sorted quickly That seems the most sensible suggestion to me by far, come back home and pay the debt from here. Quote Link to comment Share on other sites More sharing options...
Quoll Posted March 22, 2013 Share Posted March 22, 2013 There are free credit and debt counselling services who can help you consolidate debts - they will either negotiate for you or assist you in negotiations .http://www.uccommunity.org.au/financial-counselling are there in Brisbane and you could consult o see if they have any bright ideas you may not have thought of. I agree with the others - you can always repay debts from overseas if, indeed you leave debts behind you. I am sorry you find yourselves in this pickle - circumstances change for all of us over time and you never know when the unintended consequences of your actions come back to bite you in the bum! It's easy for us to sit back and criticise what you have done but we haven't walked in your shoes and there, but for the grace of whatever deity, go we all! Financial entrapment affects/affected many of us - not necessarily overt debts but just a knowledge that a move would be financial suicide at some point in your life and that then leads to making a choice that probably isn't the one you wanted long term. Either way - your end IS in sight. There may be ways you can expedite your move but even worst case scenario you will be able to move on in a couple of years - that's only 104 weeks, a mere blip in a lifetime!! Quote Link to comment Share on other sites More sharing options...
Freesia Posted March 22, 2013 Share Posted March 22, 2013 No we have never run away from a debt and not about to. When we purchased the cars we were happy and needed the cars for work. Bought new as again we could not get a loan from bank but the car finance company happy to give us finance. People change and situation change. We can more than afford the repayments that's why we pay extra each month. Yes we've done this to ourself maybe this a lesson future migrants can learn from. Going home last year made us realise what kind of life we actually wanted. Family is what is important to us! Certainly haven't ever been in your situation, but you're only talking about money here Leanne. Anything less than life-threatening illness can be sorted. I see you've been wanting to go home sine December 2011, that's a long time. I did wonder if the car debt was the biggest headache for you- & that if you handed the cars back with an agreement to pay off the debt , you might be able to settle.... but if you've been truly unhappy for so long it's perhaps unlikely. Just have a talk to the OH, sort the cars & move. Simples ( or is there something else making you hang on ?) Quote Link to comment Share on other sites More sharing options...
Guest Posted March 22, 2013 Share Posted March 22, 2013 These people have loans they can more than afford to pay so I'm not sure why so many people are replying as if they have been irresponsible. A number of people have suggested selling the cars, you can't with outstanding credit and if I am reading it right the cars are worth less than they owe so there is no way the finance company would allow it. The problem is that they would like to make changes which is hard until the loans are paid off. I definitely think there are solutions though - definitely make sure you have the best deal credit cards - ANZ is good. Or is it possible to get a loan anf clear the cards? No-one is going to stop you paying it back from the UK. As for the cars I personally would tell the finance company you are going back to the UK and ask them what they would like you to do. They know you could simply drive to the airport in them, jump on a plane and leave them there, they would have little chance of finding you and even if they did no jurisdiction to recover the debt so they should be willing to negotiate with you to limit their losses. Do it soon though because you are wasting money paying more. I bet if you added up what you have paid, you will have already covered the cost of the car. Don't offer to pay from the UK, tell them you won't have work so can'. Tell them you want to hand the car back so they don't have to reposses it . Quote Link to comment Share on other sites More sharing options...
Phoenix16 Posted March 22, 2013 Share Posted March 22, 2013 No we have never run away from a debt and not about to. When we purchased the cars we were happy and needed the cars for work. Bought new as again we could not get a loan from bank but the car finance company happy to give us finance. People change and situation change. We can more than afford the repayments that's why we pay extra each month. Yes we've done this to ourself maybe this a lesson future migrants can learn from. Going home last year made us realise what kind of life we actually wanted. Family is what is important to us! I totally understand your situation, I'm not sure what visa you arrived on but we were on a 457 initially and classed as a massive risk to the banks, car finance was available but at very inflated interest rates yet we both needed cars in order to get to work! It's a catch 22 and whilst others can moralize, I do understand as I've been there! Also, we were not fortunate enough to migrate with a wonderful exchange rate and a pot of money from the sale of our house, like you, the GFC meant we had to rent our UK home and come here with limited funds, hence car loans etc. We also left UK very quickly and very unexpectedly so no forward planning financially, we just had to juggle the money to get started. We left UK with quite a bit of outstanding debt and hence my point, we have spent 3 years establishing a life here (risky on a 457 but luckily got PR within months) whilst having to service our UK debts, I am over the moon that this month we have finally repaid the lot and also got the UK mortgage well below the 'negative equity' zone, it's been stressful and we've had hairy moments near to pay day but it all feels worth it now we've finally done it (at times I thought we'd never get there). My point is don't be here and unhappy, go back now, you have your house and you have a great basis to build on, you don't have to stay here to pay debts and be so unhappy you can do that from the UK whilst being happy and living the life you want to live, life is too short sending money overseas regularly can be done easily (I sent an international transfer this morning to a family member who texted me a couple of hours ago to say they got it!!), go and live the life you should be living, you can sort the debts out from UK when you get established. I genuinely wish you all the best x Quote Link to comment Share on other sites More sharing options...
Francesca92 Posted March 23, 2013 Share Posted March 23, 2013 I'm sorry to hear about that, I think you should leave here, and start it fresh. The stress isn't good for you x Quote Link to comment Share on other sites More sharing options...
bassboy Posted March 23, 2013 Share Posted March 23, 2013 Been here in Brisbane 4 years every day is getting harder to be here, I find most days driving home from work I break down and cry. I feel so desperate and can't see any way out. We have two cars loans and a credit card. Found it so hard to get any kind of credit when we first arrived, we used all our saving keeping us here till we both got jobs. So we turned to the banks no help with a small loan to get us started but would give us a credit card. Used that limit quickly so they were happy to up it but again not happy to give us a small loan so now we owe a fair amount on the card. Got our self two new cars, which we just cant hand back. Were working hard paying extra off the cars and cards moving into a smaller house to pay less rent , this will save us an extra $400 a month, giving ourselfs till Aug 2015. But I'm finding everyday harder and harder, my hubby feels the same. We would love to drop everything and just go but were not that kind of people. But if the banks wont help with a loan we have no choice but to stay and work at paying the debts off. How many other people are trapped and feel like there is no way ou? As Verystormy says... Bite the bullet and get on a plane home, the banks and finance companies are big enough to throw loans at you, believe me they're big enough to take a hit now and again, doing this wont turn you into bad people overnight. With stress comes illness, life is too short to be so unhappy over material things. My advice is do one now...... While you still have each other...... Start again somewhere new..... With a smile on your faces good luck! Quote Link to comment Share on other sites More sharing options...
whichway1 Posted March 23, 2013 Share Posted March 23, 2013 Oh That sounds so awful for you. tbh I agree with a few who have said just leave if you're not planning on going back to Australia. I know what you're feeling, in terms of the trapped there bit when you're not happy, and happiness is so important. You will really have to be careful, you sound like you are really down and watch your mental health. If you do have to stay, I'd go and see the doc. I know people say pills aren't the cure for everything, but you could be getting depressed and the recovery can be hard, crying every day - not good. I remember, every day I used to wake up and wonder how I could possibly get through another day, but I did. Please honestly, don't let this destroy you x x seek help for the debt resolution, or leave, or seek help for your mood is my advice. You only have one life (maybe). XX Quote Link to comment Share on other sites More sharing options...
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