Credit Card Debt Australia

First of all, i do not ask for any opinion on this matter because I know that this is not a right thing to do, yet Im in a difficult situation and I just want to ask people for the right answer.
I am a foreign student in Australia and I got a Commonwealth Credit card with 20,000 AUD limit. Now I am leaving Australia for good as I have finished my study. However, I still have around 5,000 AUD credit card debt. Can i get away with this? Leaving Australia and go back to Hongkong and never return again to Australia?

Thanks

G'day,

My suggestion will be to do the right thing. At the moment, you might think that you will never-ever-ever-ever come to Australia anymore. Not even wanting to say the word "Australia" for the rest of your life.

But who knows... how life's can play a trick on you. Maybe when you are back to HK, you are working and somehow becomes one of the General Manager of a local company that somehow been contacted by a big Australian company to do business that will take your company to the next level. U will have to go to Australia to negotiate the settlement as the GM. That'll be ironic isn't it.

Also... you will not live happily, since you will always have this guilty feeling of not doing the right thing. You will always afraid of opening mail (b'cos it might be a summon from federal police) or a stranger looking for you (b'cos it might be private detective). What would you tell your future wife (and maybe your future children) if one day they catch up with you?

Please-please-please... I believe that you still have goodness in your heart and know which way wrong or right. Please do the right thing.

Good luck for your future endeavor and hope your future are going to be terrific :)

2007-07-01 23:27:38 by win_win_solution

The first of a series from UBank, Money Box is the world of finance made simple and easy to understand. In this episode, we will explain what the ...

I assume you mean a overdue debt (rather than simply a credit card that you have used!). An overdue debt will should fall off your report in 2007 or 2009 (ie 5 or 7 years)

All overdue accounts listed as a payment default remain on file for five years from the date of listing. All overdue accounts listed as a clearout remain on file for seven years. Even when the account has been finalised, overdue accounts remain on file for the specified five or seven years as above. The entry is simply updated to reflect it was paid in full, settled or brought up to date. The fact that an account has become overdue, and then been finalised becomes part of your credit history.

A "clearout" is when the credit provider has unsuccessfully tried to contact you in writing and has reported you as a missing debtor.

2008-09-05 12:05:03 by Barry H

I recently moved to Melbourne, Australia from New Zealand but I left behind a massive credit card debt, I asked the band I'm with (Commonwealth) if i can transfer the balance over but they said it's not possible.

Does anyone know of a way to pay off an overseas credit card without paying massive transfer fees?

Bank cheque, envelope, stamp, etc.

2009-12-02 02:14:09 by william82

Yes you can. Unless the Credit Card debt is of a fraudulent nature you should be fine. The NZSIS only look into criminal activity that might exclude you from getting a Security Clearance.

Having debt is thankfully not yet criminal.

2008-09-22 16:31:29 by mei

I have a c/card debt in australia, want to know what is going to happe if i don't pay it off, i have moved overseas now

Definately keep in contact with your creditors. You need to pay off that card even when you are overseas. If you don't, it will reflect negatively on your credit report and you will have a really hard time aquiring credit in the future.

Most people don't realize how important credit is, and I really wouldn't suggest moving and planning to not pay it.

2008-03-02 20:15:01 by ouch