Answers
My father is ill and is may pass away at some stage.
Due to my reckless spending, I racked up a large credit card bill in his name - by using a supplementary card attached to his account. Since he doesn't have any assets except for Superannuation. And all of his pension goes to paying for his nursing home, and other things - he can't really afford to make payments - since the minimum is approx. $200 per month.
I am bankrupt myself, and a full time student - so I do not have enough income to make payments, as I have my own commitments.
Therefore - if my father were to pass away - would the bank try coming after myself or other my brother to recoup the debt? That's if there is no other assets to use first.
lol his credit cards go to credit card heaven with him.
iF hE has any inheritance then creditors will take that. property assets ect.
damnit PIP ANswered like 3 seconds before me!
Headline: Aussies angry over credit card rates Over eighty per cent of people surveyed were upset the recent series of Reserve Bank interest rate ...
She also owes a debt to The ATO and has a personal loan currently being covered by her insurance on the loan due to illness.
She lives in a department of housing unit & has recently been granted a disability pension at present she is ignoring all phone calls from the credit card companies my question is what are the possible cosequenses for just ignoring this debt.
Australian answers will be more relevent thanks.
I think going bankrupt may be the only option as the personal loan was to originally pay off the credit cards so taking out another loan is not an option there has also been a $9,000. cash loan from another relative with whom she has since had a falling out with & is therefore not repaying the money owed to the estranged relitive as a gambling addiction has contributed to her debt she is worried that if she goes bankrupt she may be prosecuted.
Bankruptcy............
I had to leave Australia in a hurry and left behind a credit card debt. how will this affect my credit rating in New Zealand?
They will find you and your rating will be the same
This is in Australia - so Australian laws. My mother was the eficiary - will she have to pay these debts.
I'm in Australia. As far as I'm aware the estate of the deceased person is required to pay the outstanding debts. So your mother, as beneficiary, is required to pay the debts out of the money that was left to her, rather than out of her own money. If there is insufficient money in the estate, then it will not be necessary for her to make up the shortfall.
I still have some debt owing on my UK credit card which I need to pay off. My bank will not transfer money onto an overseas credit card, only to an overseas bank account which I don't have...any suggestions?
When I pay on my wife's Canadian credit card debt she had before we got married and she moved to the U.S. I just mail them a check (cheque) drawn from our U.S. bank account. They convert it over with no problem. Check with your credit card company.
THE DISTILLERY: King complacent
As the holidays loom, today’s commentary oscillates between notions of rest and death, sometimes confusing the two.
Malcolm Maiden of The Age today tells the story of Nufarm’s GFC wipeout. “Supplies of the raw materials used to manufacture glyphosate were very tight in 2007 and 2008 and, after failing to satisfy customer demand due to raw material shortages, Nufarm bit the bullet in the final quarter of 2008, paying raw material prices that had risen by more than 400 per cent to underpin production in 2009. But even as it wrote the cheque, a lot of new production was being commissioned, notably in China...Global capacity that had been in deficit before
ANZ Low Rate MasterCard Exclusive Offer – 4.9% p.a. for 12 months ...
Finding Christmas presents can be difficult. How you pay for them should be simple: ANZ Low Rate MasterCard. It has no unnecessary extra features, just a great low rate. And if you apply before the 28 December 2009, you’ll get an even lower rate of 4.9% p.a. on purchases for the first 12 months. So you could enjoy your holidays even more.
Key Features for the ANZ Low Rate MasterCard: Low interest rate of just 12.49% p.a. on purchases A fantastic 0% for 6 months balance transfer offer will save you having to pay credit card interest and give you time to repay your credit card...
News
high credit card limits reduce home loan suitabilityMozo.com.au - Dec 22, 2009
Recent figures from the Reserve Bank of Australia revealed that the value of credit and charge card transactions fell by 0.3 per cent in October, and more »Business Spectator - Dec 22, 2009
Allow yourself to buy too much stuff on your credit card, then get yourself out of hock by scrimping on holidaysHow does it work under Kevin Rudd's more and more »Sydney Morning Herald - Dec 20, 2009
Inside RetailingAverage credit card balances fell $4 to $3141 in October, Reserve Bank of Australia (RBA) data released last week showed. It also found that the annual shoppers prefer using debit cards and cash for christmas buyingall 17 news articles »
Sydney Morning Herald - Dec 17, 2009
The total value of credit and charge card transactions, including advances, fell by 0.3 per cent in October, figures from the Reserve Bank of Australia Credit cards on the outercredit card spending down as customers target repaymentsall 58 news articles »NEWS.com.au - Dec 01, 2009
Whitehead says Reserve Bank data reveals that Aussies have been paying off their credit cards at the fastest rate on record but credit card debt still lurks and more »Sydney Morning Herald - Dec 18, 2009
BigPond News"We're seeing a slight increase in loan demand and credit card usage," he said. "I think that's been tempered a little bit by the potential of further rate Bank reforms to hit dividends: Goodeall 82 news articles »
Philadelphia Inquirer - Dec 15, 2009
Finally, if you've got credit card debt, it's probably carrying interest at a far higher rate than your mortgage. So pay off the highest-cost debt before and more »