Hi andy
If you have lived away from the UK for over 6 months, and have no permanent presence in the UK, then you will need to look to the Australian insolvency legislation in order to resolve matters - either by offering a Debt Payment Agreement or considering bankruptcy.
I have attached a web-site which you might want to look at. The Australian Debt Payment Agreements are very similar to our IVAs, but they have some strict criteria with regard to earnings and debt levels.
http://www.itsa.gov.au/
Is there any equity in your investment propery which could be realised and a deal done with your creditors?
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk