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Debt in Australia - advice before I call Credit Corps


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Hello,

 

I have been putting off dealing with a credit card and have had no contact with the bank since 2009. This morning I called Commonwealth Bank as I wanted to face up to sort it out. Apparently it was transferred to Credit Corps in Sept 2009. I was wondering if there is anything I can do or should know before I contact them. I also understand that debts become statute barred after 6 years however I will probably return to Australia before 6 years passes. I was just wondering if you could offer some advice on whether I should call them and face up or if there's some other way of dealing with this?

 

Also what kind of interest are they likely to be charging?

 

Many thanks,

 

Z

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Moved to the Overseas Forum.

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

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17 Port & Maritime Regiment RCT

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Have a read through some of the threads in the main overseas forum http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?266-Overseas-Debt-Overseas-Account-issues

 

It will give you an idea of who and what creditcorp are, then if you have any questions come back here. ;)

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

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Hi,

Just a quick word as my breakfast is ready, but a resounding NO to calling them. By all means deal with it, but keep everything in writing.

Wait until they contact you in writing. If they ring you..Refuse to discuss on the phone as they will say they can do things they wouldn't dare commit to print. Tell them in writing only.

Take a peek at my blog (linked below) for more general info on what they can and can't do, and how to deal with them...more specific overseas advice will be forthcoming on here, I'm sure.

 

BTW....welcome to CAG :-)

 

kind regards,

 

Elsa x

PLEASE NOTE... I AM MOST SORRY BUT I HAVE VERY LIMITED AVAILABILITY AT THE MOMENT DUE TO EXTREME PRESSURE OF WORK - IF YOU REQUIRE URGENT HELP ON YOUR THREAD AND ARE GETTING NO RESPONSE PLEASE HIT THE TRIANGLE FOR SITE TEAM ASSISTANCE. ELSA XXX

 

Please check out my BLOG for the quick guide to debt threats - it has all the info & letter template links you need to get started on your journey of TAKING CONTROL. :roll:

 

All opinions are my own based on research. I am not legally qualified, if in doubt please consult a legal expert.

Hope this has helped or made you smile. Keep your chin up, you're among friends now! Elsa xxx

Please click the *star* of any CAG member who has helped you .

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Hello,

 

I have been putting off dealing with a credit card and have had no contact with the bank since 2009. This morning I called Commonwealth Bank as I wanted to face up to sort it out. Apparently it was transferred to Credit Corps in Sept 2009. I was wondering if there is anything I can do or should know before I contact them. I also understand that debts become statute barred after 6 years however I will probably return to Australia before 6 years passes. I was just wondering if you could offer some advice on whether I should call them and face up or if there's some other way of dealing with this?

 

Also what kind of interest are they likely to be charging?

 

Many thanks,

 

Z

 

In my opinion, there is a big difference on how you may choose to deal with this depending on whether or not you intend to return to Australia before the debt becomes statute-barred. It appears from your post that you do in fact intend to return to Australia before that time - if so, you MAY want to consider a settlement with Credit Corp to get this resolved so it doesn't cause you problems after you return.In my particular case, I do NOT intend to return to Australia and my debt is very nearly statute-barred. So my strategy is to run them around in circles until after the statute-barred date. In your case, you should carefully consider how this could impact your financial life if you return. In any case, as advised, NEVER talk to them on the telephone and conduct ALL correspondence and negotiations in writing. They may be unable to produce the original credit agreement, and therefore would be unable to collect the debt.There is an abundance of excellent information here on CAG regarding your situation, so my advice would be to first read everything and then make a decision on how to proceed.Good luck.W

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