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NEED ADVICE!!! back in ireland with 9k outstanding loan in australia

  • 20-09-2016 11:29pm
    #1
    Alanl101
    Closed Accounts Posts: 5 ✭


    hi guys. as the the title says i have moved back home with oustanding bank loan in australia.

    looking for some advice?!

    about 4.5 months ago i took out $12000 loan to furnish new apartment i was moving into in sydney. all was fine i was paying back loan every week. have paid off just under $2500.

    anyways got a call a few weeks ago to say my one of parents was in bad health and it wasnt looking good.

    only bad part of living in oz is being so far away from everyone back home.

    anyway turns out the results of tests etc came back and there is nothing more the docs can do in terms of treatment. upon hearing this ****ty news i decided that i had to move back home and be around them.

    i still have the guts of $9,500 oustanding. still have some money left in my acc to pay like 2 installments as the flights home etc cost a fortune.

    not having much luck sourcing work and im starting to worry about making repayments on my loan.

    And before people go pointing fingers and saying im trying to step out on a loan etc. dont bother. i had no intention on leaving australia i loved it there and if everything had kept going the way it was i probably would of stayed there for good. but unfortunately things happen that are out of our control so now im back in the uk with an oustanding bank loan with commonwealth in australia.

    what im wondering is what happens if i cant make the repayments anymore?

    do i face prosecution?! bad credit history against me here in the Ireland i try go for a morgage etc down the road? death collectors. or can they come after me?! iv emailed them pretty much what iv written here and they basically said that they want me to continue with repayments and that failure to pay will result in the loan defaulting etc.

    has anyone had any similar situation or know forst hand of a case like this. head is fried at the moment. only coming to terms with the had news of my folks and the last thing i was thinkig of was the loan. when i booked my flight home. just had to be here.

    anyway guys i hope some of you might be able to help.

    and just so ye know im not saying i am going to juat not pay. im hoping things look up here jobwise but if not what are my options? or how will it go if i cant pay it.

    cheers
    al


Comments

  • #2
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,552 Mod ✭✭✭✭johnnyskeleton


    Can you sell the furniture and repay some of the loan that way?


  • #3
    Alanl101
    Closed Accounts Posts: 5 ✭Alanl101


    johnnyskeleton wrote: »
    Can you sell the furniture and repay some of the loan that way?

    hoping to get some back from that. had to leave the apartment and break lease so lost my bond also. they have to wait and get new tenants in and then hopefully they can pay it off in installments maybe. even straight into my aussie account and that way repayments can come out as normal. but as long as its vacant i will have no money coming in.


  • #4
    Peregrinus
    Registered Users, Registered Users 2 Posts: 27,004 ✭✭✭✭Peregrinus


    No, you don't face prosecution, on the basis of what you say here.

    It's possible but unlikely that your credit rating in Ireland will be affected. It's possible but very unlikely that you will be pursued by debt collectors.

    You've been upfront with the bank, which is good. When you get a job, work out what repayment you can realistically make and approach the bank and offer to make a deal. They'll quite possibly take any reasonable offer, since their options for pursuing you in Ireland are, realistically, very limited.


  • #5
    nuac
    Registered Users, Registered Users 2 Posts: 6,769 ✭✭✭nuac


    Mod
    Sorry cannot get legal advice on this forum
    Talk to a solicitor, showing him/her the above posts
    thread closed


  • #6
    Alanl101
    Closed Accounts Posts: 5 ✭Alanl101


    Peregrinus wrote: »
    No, you don't face prosecution, on the basis of what you say here.

    It's possible but unlikely that your credit rating in Ireland will be affected. It's possible but very unlikely that you will be pursued by debt collectors.

    You've been upfront with the bank, which is good. When you get a job, work out what repayment you can realistically make and approach the bank and offer to make a deal. They'll quite possibly take any reasonable offer, since their options for pursuing you in Ireland are, realistically, very limited.


    yeah thats the plan to pay them back in some way. just panicking at the moment as the situation at hime is out of my hands. thanks for your reply.


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  • #7
    Alanl101
    Closed Accounts Posts: 5 ✭Alanl101


    nuac wrote: »
    Mod
    Sorry cannot get legal advice on this forum
    Talk to a solicitor, showing him/her the above posts
    thread closed

    sorry but i was not looking for legal advice as such.
    just wanted to see had anybody been in a similar situation or know of anyone that had a similar issue and what happened with it.


This discussion has been closed.
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