Question by warzo: i owe nearly every single bank in australia money in credit cards and personal loans.? i owe nearly every single bank in australia money in credit cards and personal loans about $ 300000..i will never be able to pay them back,its just how my condition is.they are sending me bills every day and i have no choice but to ignore it.i just want to know what will they do to me ?what is the worst senario? Best answer for i owe nearly every single bank in australia money in credit cards and personal loans.?:
Answer by ctea
file bankruptcy, its your only hope, and then don't get your self in that position again.
Answer by kitty.kitchen
If they catch up with you and you go to court, you could be in quite a bit of trouble, have all your property repossessed, your wage garnered, and have your tax returns intercepted. HOWEVER. If you default (which means you don't reply to their letters - pretty much pretend you never got them), you will remain on the national system with a bad credit rating for five years. After this time, the debts will actually be wiped. Seriously. Five years is a long time to avoid paying back every bank in the country though - good luck. Maybe you should get legal advice. Legal aid has a free website and phone service.
Answer by justme
There is not statute of limitations on owed money in Australia, so you will eventually have to pay it plus interest, Going bankrupt is not a good idea, because all your assets will be seized, and it will stop you from getting any sort of credit at all,. You need to approach the banks, explain your problems, and try to reach some repayment agreement with them
Answer by Ruwii
Maybe you do not want to hear it but the worst scenario is: work, work, work 16hours a day, to eat only rice and beans, rice and beans. You took the money and know you have to pay it back. simply as this.
Answer by bob shark
The best scenerio, is you move to New Zealand and don't do this stuff there. Otherwise, live lousy and pay ALL your bills and interest.
Answer by Citlali
People with poor credit feel that it is difficult to get personal loans. However, there are many financial companies and banks that provide loans to bad credit applicants. Bad credit personal loans are generally soughtThe interest rates on secured loans are lower than unsecured loans. However, there is always the risk of losing your house or property if the loan is not repaid.
Answer by worried85
call consumer affairs and they'll put you onto a financial counciller (its free)...likely u'll have to declare bankruptcy unless u have say a car worth $ 30000 that u can sell or a house? how old are you??????
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Taking on those properties, officials say, would allow the homeowners to refinance those troubled loans. Half of all 300000 mortgages in the Southern California county are underwater, according to county officials. While some are in the process of ... County Considers Eminent Domain As Foreclosure Fix
Allied Affiliated Funding is pleased to announce the details of another "Funding By Allied" courtesy of Eli Gross, Business Development Manager, further strengthening Allied's presence in the Oklahoma market and nationwide:
Date Funded: 12/8/10
Facility Amount: $ 300,000
The Company: This company, headquartered in Oklahoma, serves the oil and gas industry in Pennsylvania and New York. The company's primary areas of business presently include mud solidification, roustabout and disposal containers. Future areas of work include rental equipment and pre-drilling site preparation. One of the owners is a prior factoring client of Allied under a different company he owned at that time.
The Issue: The owners of this start up company needed capital to get the business started, to grow and to solidify contracts. The companys official operations just began on 12/1/10.
The Solution: Knowing that Allied has the ability to fund start up companies, this former client worked with Eli Gross at Allied to establish a factoring relationship for his new oil and gas field services business. Due to the prior working history, Allied was able to set this facility up both quickly and efficiently.
The Win: Allied was able to assist by funding this company's first round of invoices and by providing them the working capital they need to capitalize on growth opportunities.
For more information on our factoring services, please visit our Web site at www.FundingByAllied.com, or contact Eli directly:
Eli Gross
Business Development Manager
Tel: 972-776-3500
Cell: 972-658-6536
Fax: 972-404-9955
eli.gross@FundingByAllied.com
Remember, when you see a business prospect positioned for growth, but one that lacks sufficient funding to realize their full potential, our services may be their funding solution. Let Allied Affiliated Funding transform your options and theirs by giving your prospects and customers the wings to fly.
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