Money worries and IVA
Dec 8th 2007, 9:11 pm
#46
Forum Regular
Thread Starter
Joined: Feb 2007
Location: Harlow, Essex
Posts: 147
Dec 10th 2007, 6:48 pm
#47
Just Joined
Joined: Sep 2007
Posts: 1
Re: Money worries and IVA
hi just wondering what is IVA ps great 
Any help would be appreciated, just wondering what other people have done or experiences you've had. 
I'll start by saying that we are not running away from our debts and fully intend to pay,
but are struggling and wish to set up the best life possible when we go.
My OH has spoken to an IVA agent and they have given us an option of taking an extra £18K with us (paying debtors a lump sum from sale of house and writing off the other half) but it will mean OH having a crap credit rating here for the next 6 years. Obviously we are going with a view to not returning but you just never know.
We don't want to rack up a load of credit in Oz but if he goes ahead with IVA does anyone know if this will have an adverse affect on him getting credit/mortgage in OZ, he is the main earner of the house.
Any help?????
Thanks
Jo
I'll start by saying that we are not running away from our debts and fully intend to pay,
but are struggling and wish to set up the best life possible when we go.My OH has spoken to an IVA agent and they have given us an option of taking an extra £18K with us (paying debtors a lump sum from sale of house and writing off the other half) but it will mean OH having a crap credit rating here for the next 6 years. Obviously we are going with a view to not returning but you just never know.
We don't want to rack up a load of credit in Oz but if he goes ahead with IVA does anyone know if this will have an adverse affect on him getting credit/mortgage in OZ, he is the main earner of the house.
Any help?????
Thanks
Jo
Dec 10th 2007, 6:56 pm
#48
Forum Regular
Thread Starter
Joined: Feb 2007
Location: Harlow, Essex
Posts: 147
Re: Money worries and IVA
Its an Individual Voluntary Arrangement and you bascially come to an arrangement with any of the people you owe money. Either paying them a lump sum or monthly payments to clear your debts. It will affect your credit rating for 2/3 years.
That's the short version but everyone is different
Jo
That's the short version but everyone is different
Jo
Dec 10th 2007, 10:44 pm
#49
BE Forum Addict
Joined: Feb 2005
Location: Mountain Creek,Sunshine Coast
Posts: 3,596
Re: Money worries and IVA
Its an Individual Voluntary Arrangement and you bascially come to an arrangement with any of the people you owe money. Either paying them a lump sum or monthly payments to clear your debts. It will affect your credit rating for 2/3 years.
That's the short version but everyone is different
Jo
That's the short version but everyone is different
Jo
There is no charge for this service by the way and I am by no means linked to them. They have an online system so you dont have to keep ringing them, they will also ring you in Australia if you want to talk with them, just send an email and they will ring you. They dont ask for any proof of income, they take your word for it. but well worth taking any pressure off people leaving debts behind in the UK.
They are the consumer counselling credit service (CCCS) link is:
http://www.cccs.co.uk/
Give them a call if you would like help with your repayments, their minimum is 5GBP per creditor. Good Luck folks - they take all the pressure off you if you want to repay monies to creditors. You pay them one lump sum by the way via standing order and they distribute it to creditors.
