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seanm87

Debt advice

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I have recently come out of work and defaulted on my credit card. Can debts effect my PR?

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Only if it was fraud, ie you took out a card with no intention to pay it back


If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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Are you in Aus already? If so, seek counselling from one of the free financial counselling services. Last thing you will want is to be bankrupt in Aus, they won't let you leave if you are an undischarged bankrupt for starters and the counselling services can help you negotiate with your credit card providers. If you're not in Aus but still in UK I'd get financial counselling there too and work out how to cover the debt but think very seriously about moving to the other side of the world while that debt still hangs over you - moving to a foreign country is an incredibly expensive venture and you would want to have all your finances humming along nicely to buffer you from being in debt in a place where you are likely to have little or no access to welfare funding.

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Guest Guest109139
I am not suggesting what you should do, but I urge you to read this article.

It highlights a few common misconceptions about how the debt/collection agency etc work.

 

http://www.theguardian.com/commentisfree/2011/nov/15/debt-agencies-economy

 

A bit of an eye opener for many.

 

 

 

Excellent article, thanks for posting.

 

And yes people are waking up and taking note

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Credit rating won't affect your PR in itself. However your proof of funds must be net of any debts, so you must have at least that net worth.

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