Money worries and IVA
Nov 3rd 2007, 10:31 pm
#31
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Re: Money worries and IVA
I take on board your opinion and like you said it's yours to have but.....
we are moving for a better life, to raise our son and give him the best opportunity possible and I cannot envisage that here.....with or without debts. We are never going to be in a position to make the next step up the property ladder or move to a better area or let him go to the better schools. I appreciate that debt is down to us and over spending, but who says you can't rectify it by selling up and moving on, if it truely is for the best.
I would like to thank all the people that have given advice and reassurances, you have been more support then I could realise.
jo x
we are moving for a better life, to raise our son and give him the best opportunity possible and I cannot envisage that here.....with or without debts. We are never going to be in a position to make the next step up the property ladder or move to a better area or let him go to the better schools. I appreciate that debt is down to us and over spending, but who says you can't rectify it by selling up and moving on, if it truely is for the best.
I would like to thank all the people that have given advice and reassurances, you have been more support then I could realise.
jo x
Nov 3rd 2007, 11:27 pm
#32
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Re: Money worries and IVA
I'd lend as much as you can cash, against your house, and go and hand the keys in to the mortgage people.
Let them argue amongst themselves who gets what,
and you get loads of cash in AUs, that you have supposed to have spent in the UK.......
who gives a sht , the banks arent arsed, they let you do it....
Let them argue amongst themselves who gets what,
and you get loads of cash in AUs, that you have supposed to have spent in the UK.......
who gives a sht , the banks arent arsed, they let you do it....
debbie
Nov 5th 2007, 3:11 pm
#33
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Re: Money worries and IVA
Jo
Nov 10th 2007, 9:21 am
#34
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Re: Money worries and IVA
Last edited by sarahlou; Nov 10th 2007 at 9:21 am. Reason: spelling
Dec 6th 2007, 11:23 am
#35
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Re: Money worries and IVA
so does anyone know what happens if you apply for bankrupcy say 3 months before you go?
Dec 6th 2007, 11:45 am
#36
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Re: Money worries and IVA
if you racked debt up, would that be conspiracy to defraud institutions knowing you did it, to take cash out of the country.
interesting one.
interesting one.
Dec 6th 2007, 12:56 pm
#37
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Dec 6th 2007, 1:11 pm
#38
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Re: Money worries and IVA
Before you go with down the IVA track, google it and if you read the various sites there are not a lot of cases successfull.
It seems that the banks or whoever your debt is with usually only accept an IVA if you have not kept up repayments for quite a while as they see it as a lost cause but if you have been keeping up the repayments then they see it for what it is.... don't mean to be rude, but that you don't want to pay it in full.
We were in exactly the same boat as yourselves, I wanted to go down the IVA route, OH said no way, our debt we pay for it. We payed it all off when we sold the house and I have to say I feel better for doing it.
Saying that I am leaving the UK not paying 2 months of my mobile phone bill (as I have already paid them but they say I haven't) and without boring you with another long story I am leaving the tax credit people owing them £1,700 They can chase me if they like but they won't get it!
Good luck with whatever happens
Nic
It seems that the banks or whoever your debt is with usually only accept an IVA if you have not kept up repayments for quite a while as they see it as a lost cause but if you have been keeping up the repayments then they see it for what it is.... don't mean to be rude, but that you don't want to pay it in full.
We were in exactly the same boat as yourselves, I wanted to go down the IVA route, OH said no way, our debt we pay for it. We payed it all off when we sold the house and I have to say I feel better for doing it.
Saying that I am leaving the UK not paying 2 months of my mobile phone bill (as I have already paid them but they say I haven't) and without boring you with another long story I am leaving the tax credit people owing them £1,700 They can chase me if they like but they won't get it!
Good luck with whatever happens
Nic
Dec 6th 2007, 1:19 pm
#39
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Location: Victoria
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Re: Money worries and IVA
so what happens if the companies you owe find you in oz? can they then come after you in oz / get the hands on your oz assets?
Dec 6th 2007, 1:24 pm
#40
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Re: Money worries and IVA
From what the OP said, no, they can't but the minute you return to the UK you might have bad credit. I think it all depends on how much, how big a compnay etc.
Dec 6th 2007, 2:30 pm
#41
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Re: Money worries and IVA
Have to say if you rack up debts in the UK , basically you should pay them.
Dec 6th 2007, 7:49 pm
#42
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Joined: Apr 2005
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Re: Money worries and IVA
We sold our house and paid off all our debts in the UK... don't underestimate what a great feeling it is not owing anybody any money.
I would try and pay off everything, if you can... and come over here with a clean slate... it might mean you have to work harder once you get here.. but at least what you have have, you own!!
I get scared now looking at interest rates on credit cards and think how much interest i've paid over the years to banks/credit card co's.. theiving barstewards!
We did have a result about 4 months after we got to Oz, Nat West paid back all the charges they'd charged on hubby's business account - which wasn't a massive amount - but every little helps!
That's my 2c worth....
Sonic x
Dec 6th 2007, 8:17 pm
#43
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Location: Harlow, Essex
Posts: 147
Re: Money worries and IVA
Before you go with down the IVA track, google it and if you read the various sites there are not a lot of cases successfull.
It seems that the banks or whoever your debt is with usually only accept an IVA if you have not kept up repayments for quite a while as they see it as a lost cause but if you have been keeping up the repayments then they see it for what it is.... don't mean to be rude, but that you don't want to pay it in full.
We were in exactly the same boat as yourselves, I wanted to go down the IVA route, OH said no way, our debt we pay for it. We payed it all off when we sold the house and I have to say I feel better for doing it.
Saying that I am leaving the UK not paying 2 months of my mobile phone bill (as I have already paid them but they say I haven't) and without boring you with another long story I am leaving the tax credit people owing them £1,700 They can chase me if they like but they won't get it!
Good luck with whatever happens
Nic
It seems that the banks or whoever your debt is with usually only accept an IVA if you have not kept up repayments for quite a while as they see it as a lost cause but if you have been keeping up the repayments then they see it for what it is.... don't mean to be rude, but that you don't want to pay it in full.
We were in exactly the same boat as yourselves, I wanted to go down the IVA route, OH said no way, our debt we pay for it. We payed it all off when we sold the house and I have to say I feel better for doing it.
Saying that I am leaving the UK not paying 2 months of my mobile phone bill (as I have already paid them but they say I haven't) and without boring you with another long story I am leaving the tax credit people owing them £1,700 They can chase me if they like but they won't get it!
Good luck with whatever happens
Nic
Its such a tough one, I've ummed and arrred over it and wanted to pay as much off as possible but it still wouldn't be enough. We would have to leave a loan running here and possibly an overdraft to go with some money.
I have had to change my mindset a bit, I was always of the mind that we have to clear the lot before we go, but paying debts at the moment is crippling us. I know that even though we are going ahead with an IVA it is the right thing for us and the debts will be paid........not the amounts that banks/credit cards want....... but at least we will leave with a clean slate and not have to keep paying off debts here.
Jo x
Dec 7th 2007, 1:21 pm
#44
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Re: Money worries and IVA
It's interesting to see that we're not the only ones who are or have suffered financial difficulty. By taking the IVA route and as the debts are in OH name, when we sell the house they would only be entitled to his half of what we make. I would rather they have the other half than none at all to set up our new life.
Its such a tough one, I've ummed and arrred over it and wanted to pay as much off as possible but it still wouldn't be enough. We would have to leave a loan running here and possibly an overdraft to go with some money.
I have had to change my mindset a bit, I was always of the mind that we have to clear the lot before we go, but paying debts at the moment is crippling us. I know that even though we are going ahead with an IVA it is the right thing for us and the debts will be paid........not the amounts that banks/credit cards want....... but at least we will leave with a clean slate and not have to keep paying off debts here.
Jo x
Its such a tough one, I've ummed and arrred over it and wanted to pay as much off as possible but it still wouldn't be enough. We would have to leave a loan running here and possibly an overdraft to go with some money.
I have had to change my mindset a bit, I was always of the mind that we have to clear the lot before we go, but paying debts at the moment is crippling us. I know that even though we are going ahead with an IVA it is the right thing for us and the debts will be paid........not the amounts that banks/credit cards want....... but at least we will leave with a clean slate and not have to keep paying off debts here.
Jo x
Nicx
Dec 7th 2007, 5:40 pm
#45
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Re: Money worries and IVA
Sorry but what you speak of was not just down to the fact the people did not pay their mortgages, it was primarily down to institutions recklessly loaning money to people in the sub-prime market, who had no hope of repaying the loan should interest rates move against them, which it did.
Just thought it was rather unfair to lay all the blame at those people who did/could not pay off their mortgage as this was not, I assume, a conscious decision not to repay the loan.
Regards,
Darren