ClearDebt logo ClearDebt Debt Monster Animated Banner
telephone ClearDebt 08000 192095
ClearDebt home pageHome Debt AnalyserClearDebt Analyser NewsNews IVA FAQsIVA FAQs ClearDebt press officePress
  FAQFAQ     SearchSearch     RegisterRegister     ProfileProfile     Log in to check your private messagesLog in to check your private messages     Log inLog in  

Moving Abroad

 
Post new topic   Reply to topic    ClearDebt Forum Index -> IVA
Author Message
louise



Joined: 29 Jun 2007
Posts: 1
PostPosted: Fri Jun 29, 2007 9:10 pm    Post subject: Moving Abroad Reply with quote
What happens if I move abroad in the middle of an IVA and my circumstances change regarding income and outgoings?

Can I go bankrupt and not pay anything if I know I will be living abroad for quite some time or would I have to continue paying my IVA?

Thanks
Back to top
Holly
ClearDebt Advisor


Joined: 25 Apr 2007
Posts: 15
Location: Manchester
PostPosted: Tue Jul 03, 2007 9:35 am    Post subject: Reply with quote
If you were to move abroad during the IVA, you should instruct your supervisor of the move that you are making. You should then supply your supervisor with a new income and expenditure. This should give an insight into what affect your change in circumstances will have on your IVA repayments.

If you stop making payments into your IVA whilst it is still in force, your IVA will be terminated and this may result in your bankruptcy. If you choose to go bankrupt and move abroad, normal bankruptcy restrictions will apply and you may be required to pay an Income Payments Order. This is something worth looking into further if you are considering bankruptcy.

If you require any additional information, please do not hesitate to call our office on 0161-244-5433 and one of our advisor will be more than happy to help.


Holly,
ClearDebt Limited
Back to top
Display posts from previous:   
Post new topic   Reply to topic    ClearDebt Forum Index -> IVA All times are GMT
Page 1 of 1

 


Powered by phpBB © 2001, 2005 phpBB Group