does relocation to another country breach IVA

[rachel.b]

if you an on iva and relocate to another country due to marriage does it breach the agreement

[Lisa2009]

Hi Rachel.
As long as the relocation wont affect your ability to pay your IVA there is no reason it should cause any problems.

[ianmillington]

No. Not in itself, but.........

You need to keep the Supervisor advised of where you live and ensure that proper arrangements are in place to comply with your obligations to make contributions and to submit to income and expenditure reviews.

Also, if you are a homeowner and selling your home to emigrate you will need to check what will happen to the equity.

Finally, it is important to note that your residency status may well have a major impact on the exit options should the IVA fail. It may be that there are provisions in the arrangement which require the presentation of a bankruptcy petition. This may become impossible for the Supervisor to do, especially if you emigrate to somewhere within the EU.

Hope this general guidance helps. To see if any or all of it relates to you, you need to talk to the Supervisor.

Ian