Aussie Debt - Now living in NZ

[poormama]

Hi,

 

Long story short I have about $12k of debt in Australia.

$4500 with GE and $8000 with ANZ.

 

I was paying them both off when we moved to NZ but we fell on very hard times and the cost of transferring money back to Aus when the kiwi dollar is so low against the aussie just wasn't making any headway on the debt.

 

We both (husband and I) got full time jobs and were earning collectively $80k nz. so about $65k aussie.

 

We met with a mortgage broker as at the time the housing market it was cheaper to buy than to rent.

 

We asked for a mortgage that would incorporate the aussie debt so we could pay it off. We were told to stop paying the aussie debt as it would just be listed for 5 years then be clear.

 

We met with another mortgage broker who told us the same thing.

 

As we were still struggling at this point we went with this option and stopped paying the debt.

 

I have been getting calls from Creditcorp and emails from them (they would have found my personal web on a google search). I have ignored them all after googling them they didn't come up with the best reputation.

 

My questions are:

 

1.If I don't pay this debt and they go to court in Aussie and get me declared bankrupt will I lose my aussie super?

 

2. Can they collect the debt through agencies in NZ?

3. Anz is also in NZ, can they share this debt information with a bank they own in NZ (they own a few of the kiwi banks).

4. Can the debt be listed in NZ?

5. If they don't know my address (they have never sent me anything via post) can they collect from me?

 

If I was in a better position I would keep paying it but now it has gone this far I am concerned about how to turn it around when I can't really afford it anyway.

 

Any advice would be great.

 

Thanks

 

poormama

[krios]

Hi sorry i cant help much with this one apart from the Super which cant be touched by anyone.

Maybe somone else can chip in on the other matters.

[cerberusalert]

They would have to try and obtain a judgment in a NZ court.

 

They can use a NZ debt collector.

 

They cannot mark your NZ credit file.

 

5. If they don't know my address (they have never sent me anything via post) can they collect from me?

Not unless they discover your address.

[poormama]

thanks guys. In a perfect world I would love to have the money to clear the debt but I am not really in a position to send much money back. The TT fee alone is $25. So to send $400aus back it would cost me $550nz.

 

One of my friends who used to work in a bank in aus said the below which made me nervous. I would have no problem entering into a payment agreement but from what I read about Creditcorp my survival instinct is telling me to avoid them.

 

". Basically the interest compounds and eventually get sold to a debt collector. Can be local or os. They will track you down via electoral rolls or centrelink but wont wipe out the debt. Perhaps enter into an arrangement of $50 month or whatever and pay it off over time. Credit card debts can be sold time after time. They wont bankrupt you but you can bankrupt yourself. Dont suggest that as it stays with you forever. If you contact them or approach them they will work with you. Debts always follow you. We are in the electronic age so eventually they get you. They can also charge extra fees if they want to, charge you $$$$$ if they flu to nz or have to pay somebody over there to chase you."

[krios]

Just remember that credit corp charge around 18% apr interest on the debt. If you could get hold of some money they might well acept an offer much lower than the total debt just to clear it up.

Have a read of this site http://www.creditcorp.net.au/indexa to learn about credit corp. Its agood site for information.

[poormama]

..

Edited May 31, 2012 by poormama

[cerberusalert]

I'm afraid it's just a waiting game now to see what their next move is.

 

How long ago is it since you made payments?

[poormama]

that went to Creditcorp was before xmas,

Edited May 31, 2012 by poormama

[poormama]

oh the irony

Creditcorp called my mum. In auckladn also. looked up my maiden name in phone book obviously. Told mum she worked for creditcorp. She told mum it was urgent. Is this a breach of letting anyone know your private details?

[poormama]

what can I do to stop her calling my parents?

Edited May 31, 2012 by poormama

[poormama]

can i make the cease calling other people? If I contact creditcorp which is the safest way to do it?

Edited May 31, 2012 by poormama
removing detail

[cerberusalert]

It's your mother that should tell them to stop calling & if they continue she should should report harassment that is serious and/or ongoing to the ACCC or ASIC, or to the consumer affairs or fair trading agency in her state or territory.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?307717-Fair-Debt-Collection-Practices-In-Australia

[krios]

If you still have an email from them send a reply telling them you are going to complain to the ASIC for breaches of collection guidelines and to The Office of the Australian Information Commissioner for breaching your privacy by contacting others in the maner that they have.

 

Start the email with

Without Prejudice

 

and include I DO NOT ACKNOWLEDGE ANY DEBT WITH CREDIT CORP OR ANY OTHER ORGANISATION that you claim to represent.

Tell them Credit corp DO NOT have your permission to contact you using electronic mail. and you are going to report their mail sender IP address 119.225.68.226 (credit-pmsg.lan.creditcorp.com.au) to the main anti spam database organisations as well as an abuse report to Optus for the sending of unsolicited mail.

Dont end the e-mail with your name or anything also dont add any other information that might help them.

Might slow them down a little and make them take care with who they contact an how.

[poormama]

So update, have had contact from CC via mail now they found my home address.

Their interest rate is ridiculous and the payment plan they are offering wouldn't cover the interest

Saw in a thread somewhere that I can't find now that you can offer to pay a lump sum, at say 10% or something.

 

Does anyone know what a good %age to go in with would be and how do I go about putting this in writing?

 

a

Edited June 28, 2012 by poormama