www.iva.co.uk

I have a very unique situation, i am currently in the middle of a K1 application process, and will be moving to the US around July/August time..i am in around 18k worth of unsecured debt. Which at the moment on my 28k pa job is payable, take home over £1600 and repay about £500 a month..not a problem however when i move to the US i wont be able to work for at least the first 6 months, due to waiting for a SSN etc etc.

I have been to Citizens advice, and they really werent very helpful, they said i had three options, ring up creditors and inform them of my plans and fingers crossed they will accept lower payments till i sort things out, option 2) flee!! (which im not keen to do as i would like to be able to return to my home country if something happened to any family, and the though of looking over my shoulder every day would frustrate me! 3) go bankrupt...however as explained i have alot of disposable income at the moment as living with parents to save for 6 months..im sure a bankruptcy order would be thrown out. So now im looknig into IVA's. i am sure i can repay if the repayment amoutn stays around £150..300 dollars. obviously anymore with having to rent etc would be hard. Esp as i dont know if i will find a job. I know nothing will affect my visa application as i am getting sponsored by my finace. So this isnt an issue, another factor is the fact i cant actual leave the US for two years once i ahve entered so any court appointments will not be doable..I am going out of my mind looking on all the forums about debt. I just wanted to see if anyone on here can help me as you seem to be the most professional website. My times is narrowing everyday im starting to worry more and more..i mean would quitting my job and just going bankrupt be the best option? i dont have ANY assets, none..the money was spent on living.

Thanks for taking time to read this.
R

Hi
Is it worth overpaying up until you leave and then explaining to your creditors the situation and hopefully they will agree a six month holiday or reduction.
I'm sure that your not at the insolvency stage.
Regards

That's good advice from Andy - pay as much as you can now before you go, ask creditors for a six month payment break - they will moan and groan about this, probably default your account and send umpteen letters, but at the end of the day if you have left the UK there is little they can actually do, and then when you have work in the US again recommence payments.

Might try a different approach

Don't overpay now - instead keep the extra you have and give Andrew Graveson a call at bright oak. He may be able to set up a temp debt management plan for 6 months ( with your disposable money that you put by now) which means that your creditors get something every month Plus a contact address in the UK while you are away.

just a thought