I dont owe money either , but I certainly would not be...

I dont owe money either , but I certainly would not be defaulting . You have taken a deduction up front ( I assume ) , read very carefully what you have signed .

I think it is not as easy as you describe , and an extremely risky alternative on many fronts . Be very very careful , this is not the point at which to default , that would be what they want ...then throw in the ATO .

Make the payments you agreed to ... IMO.