Help my sister get out of debt

thescouselander

Hi, perhaps some of you may be able to help my sister out with some advice.

To cut a very long story short my sister had a fairly large debt a few years ago. At the same time her then Boyfriend (who she is now getting married to) wanted to go travelling round the world. My sister didn't want to be left behind and so refinanced her debt so she could go with him. Of course, she got further into debt as she was travelling. She now has a large loan and 1 maxed out credit card.

Having reached Newzealand my sister and her OH decide they want to live there and apply to stay perminantly - their application looks like it might be granted. She has a job that pays reasonably well in comparison to the local economy but the pay doesnt look so good when converted back to punds.

The problem is that she is repaying her debt in punds and this is taking a large proportion of her pay making things very difficult. She cannot refinance using 0% credit cards of cheaper loans because she doesn't live in this country any more. She cant apply for finance in New Zealand because she hasn't lived there long enough.

My parents arent in a postion to help and in any case this problem is of her own making - they were against her going in the first place.

Does anyone know how she might be able to reduce her monthly repayments?

GreyPilgrim

I suppose it needs a direct call to the credit companies first to see if they're willing to accept lower payments, although of course (*puts on 'State The Bloody Hat') it'll mean she'll be paying them off for longer and accruing a lot more interest (*removes hat)