I've accumulated debt on credit cards and a personal loan. An unplanned incident caused the debt to grow from $32k to $50 a few months ago. The repayments have been fairly aggressive. I was putting a 1/3 of my income against debt and I could have payed off in about 2 years. Our budget was very tight.
The problem is it has put us into the situation that I wasn't able to pay for my partners and my daughters immigration visa. They where here on a tourist visa prior. They had to leave the country and I became very depressed being alone at home having no idea how to bring up A$8k for their visa to unite the family. I wasn't able to work for some periods due to the depressions.
I called the banks and CC companies and tried to find a solution with them. They offered some short term hardship support, but it wouldn't have been enough. It would have been a year until I would have been able to be with my daughter again. I didn't qualify for a debt agreement because I was earning above the threshold.
So I quit my job sold the car ($3k) and left Australia for the Philippines to be with my daughter. With dual citizenship I can stay and work in the Philippines. I have no other assets in Australia. Her family has businesses in the Phillis and I have a job but it only pays me $800 equivalent. There is no way I can pay the creditors and I'm about to inform them. I don't know what my options are at this point. Any payments I'm able to make from here are below minimum payment. I read up on debt agreements and bankruptcy. Filing bankruptcy is only possible from within Australia. My credit history will be affected, which I own if that is the price to be with my family.
Any information or suggestion is greatly appreciated.
The problem is it has put us into the situation that I wasn't able to pay for my partners and my daughters immigration visa. They where here on a tourist visa prior. They had to leave the country and I became very depressed being alone at home having no idea how to bring up A$8k for their visa to unite the family. I wasn't able to work for some periods due to the depressions.
I called the banks and CC companies and tried to find a solution with them. They offered some short term hardship support, but it wouldn't have been enough. It would have been a year until I would have been able to be with my daughter again. I didn't qualify for a debt agreement because I was earning above the threshold.
So I quit my job sold the car ($3k) and left Australia for the Philippines to be with my daughter. With dual citizenship I can stay and work in the Philippines. I have no other assets in Australia. Her family has businesses in the Phillis and I have a job but it only pays me $800 equivalent. There is no way I can pay the creditors and I'm about to inform them. I don't know what my options are at this point. Any payments I'm able to make from here are below minimum payment. I read up on debt agreements and bankruptcy. Filing bankruptcy is only possible from within Australia. My credit history will be affected, which I own if that is the price to be with my family.
Any information or suggestion is greatly appreciated.
