Hi,
I have been reading lots of different opinions on here regarding debt from Australian companies being chased in the UK.
I had a fairly large credit card, plus some other unsecured loan debt in Australia where I lived for some years. Due to illness I ended up back in the UK and out of work for 4 years. As a result I defaulted on the debt and had not made a payment on any in about 2 years.
About a year ago I received a letter from Stevens Drake regarding on of the debts and threatening generic legal action if I did not pay. As I was still unwell at the time I did not have the energy to research my options as what best to do, as a result I started making £xx per month payments.
The debt in this time has gone from about $18,000 to over $23,000 as the payment I have been making are fairly small.
Long story short, I asked if they would accept a few thousand pounds to settle the debt in total as that is all I can scrape together from family and friends but they refused it.
I cannot go bankrupt in Australia as I am not there, I also cannot go bankrupt in the UK as I do not have any debt and that debt is not even located here yet - so I feel in a catch 22 situation.
I feel like I should just stop paying and force them to issue proceedings here so I can then go bankrupt but I am not sure how bad an idea this is.
I will not be able to go back to earning the sort of money I did previously which means in reality I cannot repay this debt.
If anyone can give any advice I would be extremely grateful.