It's not leaving uni, it's postponing uni. Nothing wrong if he can get a job in his field before finishing uni, you can always come back to it.
Better yet, work part time and study full time, as others suggested.
Come on guys, the debt collector gets the loan for a cut rate, the bank has already written it off and on sold it.
There is great advice on this thread but leaving uni to get a job to pay off a debt is not good advice. As many have said, try and come to an arrangement. They would prefer part of the money now rather than long term so maybe you can strike a deal and pay off your Dad over time.
Don't worry about "the taxpayer". Your tiny amount will hardly effect the amount of tax payed by the debt collector.
Don't worry about "the taxpayer". Your tiny amount will hardly effect the amount of tax payed by the debt collector.
I am a taxpayer. ausnick said he was living off centrelink benefits. He is 24/25 years old and has obviously been living off taxpayer funding for many years. Getting a job would benefit the taxpayer and also ausnick's self-esteem.
That's the last thing the OP should be doing IMO. Never involve friends in either borrowing or lending.
There is no harm in harsh negotiations. They need money our of you, so try to control the situation.
I don't think that's quite true, Calliope. Several of us have said the OP should come to some arrangement about paying off the debt over time.It is strange that inq is the only one to suggest that you get a job and pay your debts
Agree.I am a taxpayer. ausnick said he was living off centrelink benefits. He is 24/25 years old and has obviously been living off taxpayer funding for many years. Getting a job would benefit the taxpayer and also ausnick's self-esteem.
Because he incurred the debt and it's his responsibility. What a great society we'd have if we all engaged in the sort of philosophy you're espousing.Yeah fair points. But why should he pay off the whole debt if
he doesn't have to??
Agree. I'm blown away by the OP suggesting he should "threaten" anyone with anything.Also IMO there is harm in harsh negotiations, as the person you are dealing with can be rubbed up the wrong way OR compasionate to your situation and act favourably for best outcome.
SevenFX
Because he incurred the debt and it's his responsibility. What a great society we'd have if we all engaged in the sort of philosophy you're espousing.
Agree. I'm blown away by the OP suggesting he should "threaten" anyone with anything.
Why not go to the ANZ , and tell them the story why the debt happened . They most likely will sympathise with you and give a new loan to payout the debt . Good for banking and good for you......simple win win ~! The Euro-zone is the example to follow . Kick the can down the road ....
At the end of 2011, America, like much of the rest of the Western world, has dug deeper into a cocoon of denial. Tens of millions of Americans remain unaware that this nation is broke - broker than any nation has ever been. A few days before Christmas, we sailed across the psychological Rubicon and joined the club of nations whose government debt now exceeds their total GDP. It barely raised a murmur - and those who took the trouble to address the issue noted complacently that our 100 per cent debt-to-GDP ratio is a mere two-thirds of Greece's.
It's interesting to see the responses in this thread - almost none of them are near the mark. At the end of the day it's your decision on how to handle the alledged debt.
Two brief questions:
1. Do you have a contract with the debt collector? If not, then how can they say you owe them anything?
2. Are you sure you have a debt in the first place (as many in this thread assert)
Always remain in honor, by dishonor, you will be in default and liable. For example, ask the debt collector for the written contract with your wet ink signature to prove the debt.
There are plenty of ways to handle this type of situation - ultimately it's up to you.
The OP virtually stole $6k from the bank, then did a runner overseas.
I have a different suggestion. Maybe the debt should be repaid from his prison wages.
I agree. Maxing your credit card with no capability or intention of paying it off should be a criminal offence.
Why? If you knowingly take on a debt it should be on the understanding that you will do the honourable thing and repay it as expected.Owing a friend or individual money is very different to owing a large financial institution money IMO,
It is not "business". It's behaving amorally.and thus the decision as to whether or not to repay in full should take this into account. If the debt isn't fully repaid there won't be any person or family harmed by this decision....it's business.
Two babies at the new reduced rate of $5000 per kid will pay off the debt and you will still have enough left over to buy a big LCD television.
This is an absolutely valid point, Junior. It still, however, leaves the essential responsibility with the person who takes up the loan imo.Additionally to the above, we're in a society where the banks will lend to individuals who shouldn't be lent to, for the banks' short term profit.
OWG,
I read your posts with interest/bemusement. You talk some interesting legal theories yet you have never once gone into further detail or provided evidence that a case like this would actually win. If the OP did take it to court on the basis that he has no actual debt with Baycorp, why would the judge find in his favour? And how is he to stop his credit rating from being further effected?
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