CowlingAFC Posted August 8, 2015 Share Posted August 8, 2015 Has anyone moved away from oz leaving debt ie; bank loan behind? what would happen? and what would happen if you decided to move back down to Australia in a few years cheers Quote Link to comment Share on other sites More sharing options...
CaptainC Posted August 8, 2015 Share Posted August 8, 2015 Hi @CowlingAFC See this thread, it may answer some of your questions. http://www.pomsinoz.com/forum/showthread.php?t=235733 Quote Link to comment Share on other sites More sharing options...
bristolman Posted August 8, 2015 Share Posted August 8, 2015 Basically you can't be chased for a bank loan and after 6-7 years it disappears from your record. Quote Link to comment Share on other sites More sharing options...
CowlingAFC Posted August 8, 2015 Author Share Posted August 8, 2015 But if said person was to return to oz to live in a couple of years? or a holiday even.... What would happen there? Quote Link to comment Share on other sites More sharing options...
Bungo Posted August 8, 2015 Share Posted August 8, 2015 But if said person was to return to oz to live in a couple of years? or a holiday even.... What would happen there? You would be chased for it. What else do you think might happen? Quote Link to comment Share on other sites More sharing options...
bristolman Posted August 8, 2015 Share Posted August 8, 2015 But if said person was to return to oz to live in a couple of years? or a holiday even.... What would happen there? On holiday nothing but if you returned to live within the 6 or 7 year (can't remember which) period then they would be on you like a ton of bricks. If you or said person is contemplating returning then I suggest paying the debt. Well I suggest paying it anyway. Quote Link to comment Share on other sites More sharing options...
scuffythetugboat Posted August 9, 2015 Share Posted August 9, 2015 Just a thought. If it is true that they may not come after you for the money after 6 or seven years, wouldn't your credit rating in Australia make you an untouchable? I can't see the system letting anyone off with no consequences. Quote Link to comment Share on other sites More sharing options...
CaptainC Posted August 9, 2015 Share Posted August 9, 2015 Just a thought. If it is true that they may not come after you for the money after 6 or seven years, wouldn't your credit rating in Australia make you an untouchable? I can't see the system letting anyone off with no consequences. Only basing on what it's like in the UK (may not be the same in Australia) your credit rating reverts to normal again and any adverse things are removed. Quote Link to comment Share on other sites More sharing options...
amibovered Posted August 9, 2015 Share Posted August 9, 2015 (edited) Just a thought. If it is true that they may not come after you for the money after 6 or seven years, wouldn't your credit rating in Australia make you an untouchable? I can't see the system letting anyone off with no consequences. It wouldn't show on your credit rating after 6 or 7 years, more or less the same as the U.K. Mind you having no credit rating is almost as bad as having a poor one. Edited August 9, 2015 by amibovered Quote Link to comment Share on other sites More sharing options...
scuffythetugboat Posted August 9, 2015 Share Posted August 9, 2015 Wow. So anyone can borrow a load of cash then leave either country and if they don't return, they get away with it! Doesn't seem right to me, but it's food for thought. Quote Link to comment Share on other sites More sharing options...
srh82 Posted August 9, 2015 Share Posted August 9, 2015 Just because you perhaps can, doesn't mean you should ! Quote Link to comment Share on other sites More sharing options...
CaptainC Posted August 9, 2015 Share Posted August 9, 2015 Wow. So anyone can borrow a load of cash then leave either country and if they don't return, they get away with it! Doesn't seem right to me, but it's food for thought. Not quite (in UK) If the credit provider manages to pin you down they can apply for a County Court Judgment and then that will affect any future credit. The 6 year statute of limitations is a complicated one and there are certain restrictions, but the general gist is that a person cannot be chased forever for old debts. No idea if the same applies in Australia. Quote Link to comment Share on other sites More sharing options...
CaptainC Posted August 9, 2015 Share Posted August 9, 2015 Wow. So anyone can borrow a load of cash then leave either country and if they don't return, they get away with it! Doesn't seem right to me, but it's food for thought. I heard that a certain number of migrants in the past used to buy a whole load of furniture, clothes, etc from a catalogue on a payment plan, stick in all in a container and ship it down under and leave without paying a penny. Totally illegal but if the creditor can't find you then theoretically the debt is wiped after 6 years. Personally, I'm an honest person whose only debt is a bunch of flowers every now and again if I've annoyed my wife! Other than that I don't think I could live with myself if I did a runner from a creditor, but I suppose that everyone has their own circumstances and do as they see fit, knowing that they must face the potential consequences of any choice that they make. Quote Link to comment Share on other sites More sharing options...
Bungo Posted August 9, 2015 Share Posted August 9, 2015 Wow. So anyone can borrow a load of cash then leave either country and if they don't return, they get away with it! Doesn't seem right to me, but it's food for thought. Not sure I would say it is as simple as that and certainly it is dishonest and most people do value their own integrity. When we left the UK we both inadvertently left an unpaid bill, no more than £50 and not intentionally just missed the final bill on a couple of things. Well my OHs family were tracked down and harassed in the UK, which was alarming for them and just embarrassing for us. When I got back this year, I decided to start my own business and applied for a new bank account. To my puzzlement I was turned down by one bank based on my credit. I was pretty stunned as I was not even requesting credit, just an account and we are mortgage free, debt free, own property and have savings, have a long track record with my current bank and always had UK accounts operating in good order. Anyway upon investigation found a £47 bill from 2011 on my credit record something to do with internet, to be honest, I am not even sure if it belonged to me or a tenant as I was not in the UK in 2011, but proves that these things hang around and adversely impact you later on. Quote Link to comment Share on other sites More sharing options...
scuffythetugboat Posted August 9, 2015 Share Posted August 9, 2015 Not sure I would say it is as simple as that and certainly it is dishonest and most people do value their own integrity. When we left the UK we both inadvertently left an unpaid bill, no more than £50 and not intentionally just missed the final bill on a couple of things. Well my OHs family were tracked down and harassed in the UK, which was alarming for them and just embarrassing for us. When I got back this year, I decided to start my own business and applied for a new bank account. To my puzzlement I was turned down by one bank based on my credit. I was pretty stunned as I was not even requesting credit, just an account and we are mortgage free, debt free, own property and have savings, have a long track record with my current bank and always had UK accounts operating in good order. Anyway upon investigation found a £47 bill from 2011 on my credit record something to do with internet, to be honest, I am not even sure if it belonged to me or a tenant as I was not in the UK in 2011, but proves that these things hang around and adversely impact you later on. I sleep at night. I have no intention of committing fraud but l wouldn't have thought that any lending institution would let you off scot-free no matter what the law of the land may be. If what has been said on here is true then maybe fleets of container ships full of goods obtained this way will be heading to and fro. What's to stop them? As soon as crooks realise there's a way to make easy money, they're on to it. Quote Link to comment Share on other sites More sharing options...
CaptainC Posted August 9, 2015 Share Posted August 9, 2015 If what has been said on here is true then maybe fleets of container ships full of goods obtained this way will be heading to and fro. What's to stop them? I suppose I could be accused of handling these 'stolen' goods as I have been Captain of one of those ships. Quote Link to comment Share on other sites More sharing options...
Que Sera Sera Posted August 9, 2015 Share Posted August 9, 2015 I think the difference is if you buy goods or borrow money with the intention of never paying it back then that is classed as fraud and this could be classed as criminal therefore you could be prosecuted however if you merely stop paying, it's a civil matter and not recoverable from Australia. Quote Link to comment Share on other sites More sharing options...
Bungo Posted August 9, 2015 Share Posted August 9, 2015 I sleep at night. I have no intention of committing fraud but l wouldn't have thought that any lending institution would let you off scot-free no matter what the law of the land may be. If what has been said on here is true then maybe fleets of container ships full of goods obtained this way will be heading to and fro. What's to stop them? As soon as crooks realise there's a way to make easy money, they're on to it. I did not for a moment think you were planning such a thing, if anything I thought you sounded pretty shocked by the thought of it, like most decent people. I was speculating on why I think most people do not head off with shipload of unpaid for goods - because most people are honest and also most people know that these things can come back to bite you. Who wants to be a fugitive from their own country. Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted August 9, 2015 Share Posted August 9, 2015 I heard that a certain number of migrants in the past used to buy a whole load of furniture, clothes, etc from a catalogue on a payment plan, stick in all in a container and ship it down under and leave without paying a penny. Totally illegal but if the creditor can't find you then theoretically the debt is wiped after 6 years. Personally, I'm an honest person whose only debt is a bunch of flowers every now and again if I've annoyed my wife! Other than that I don't think I could live with myself if I did a runner from a creditor, but I suppose that everyone has their own circumstances and do as they see fit, knowing that they must face the potential consequences of any choice that they make. This would be different as it would be classed as fraud, taking out a loan with no intention of paying it back. If you took out finance over 5yrs and then moved after 2 then yes it shows they did have an intention to pay. Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted August 9, 2015 Share Posted August 9, 2015 Not sure I would say it is as simple as that and certainly it is dishonest and most people do value their own integrity. When we left the UK we both inadvertently left an unpaid bill, no more than £50 and not intentionally just missed the final bill on a couple of things. Well my OHs family were tracked down and harassed in the UK, which was alarming for them and just embarrassing for us. When I got back this year, I decided to start my own business and applied for a new bank account. To my puzzlement I was turned down by one bank based on my credit. I was pretty stunned as I was not even requesting credit, just an account and we are mortgage free, debt free, own property and have savings, have a long track record with my current bank and always had UK accounts operating in good order. Anyway upon investigation found a £47 bill from 2011 on my credit record something to do with internet, to be honest, I am not even sure if it belonged to me or a tenant as I was not in the UK in 2011, but proves that these things hang around and adversely impact you later on. Wow that's harsh, how long were you out of the country for? Quote Link to comment Share on other sites More sharing options...
Guest Posted August 9, 2015 Share Posted August 9, 2015 (edited) Yep, I was turned down by Direct Line for 'credit' for car insurance (i.e. monthly payments) as I had an outstanding debt....less than £5 and I was completely unaware of it! Believe me we left the UK with maybe £20k of debt which we paid off the entire time we were in Australia (& still paying off now we're back!) I wasn't going to do a runner for a fiver! And my parents received letters from debt collectors for debts incurred by tenants in my house - not sure how they got my parents address but they did! Edited August 9, 2015 by Lady Rainicorn Quote Link to comment Share on other sites More sharing options...
dmjg Posted August 9, 2015 Share Posted August 9, 2015 I was away from Australia for over seven years, but my first pay cheque had a HECS debt levy applied. And after six years here, the OH gets a letter every year requesting info about paying off her student loan. Quote Link to comment Share on other sites More sharing options...
Parley Posted August 9, 2015 Share Posted August 9, 2015 How can it be that someone can afford to migrate to Australia with all the costs that involves, yet not be able to afford to pay their debts. Quote Link to comment Share on other sites More sharing options...
Playghirl Posted August 10, 2015 Share Posted August 10, 2015 I was away from Australia for over seven years, but my first pay cheque had a HECS debt levy applied. And after six years here, the OH gets a letter every year requesting info about paying off her student loan. I was was away about 18 years and ditto, only just payed off my university debt this tax time. (( aged 45!)), not to start super after living abroad for ever! Quote Link to comment Share on other sites More sharing options...
Jacaranda Posted August 10, 2015 Share Posted August 10, 2015 If you have debts,pay them! Sooner or later it will return to bite you on the butt! Quote Link to comment Share on other sites More sharing options...
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