What happens if I don't pay my loan and move overseas?
Tue, 04/28/2009 04:30
I have an outstanding debt for $8500 on a personal loan I got when I was living in New Zealand. I have returned to my home country of Australia & as a full time student I am finding it difficult to repay this loan due to international transfer fees. Banks will not help me to refinance this loan as I am a student and the loan is international. Debt mediators and similar debt relief agencies cannot help me either as it is an international loan. I am seriously considering not paying off the loan as I will never return to NZ. Can the banks trace me in Australia and will this affect my credit rating here?