Thanks to the site creators and all the contributors - your feedback gives hope. I am not sure if my case is unique, but I am in deep for about 65K on unsecured UK credit card debt, I have zero assets and its been going on for 10 years now. I am kind of giving up on everything in general. My wife knows nothing about it, and I can't lie to myself or her anymore.
About 2.5 years ago I got offered a job abroad, it was a big increase in salary and offered me a quicker way to pay back as I had previously been paying 90% of my UK salary and rolling the card balances monthly. But the cards got the better of me (my stupid mind thought I could go on spending, even though my MBNA minimum monthly payments were 80% interest) and then I lost my job, stuck out in a very difficult place I managed to get another job. The 5 month period were I was out of work was frightening and gave me a good wake up call. I had to borrow left right and centre, juggle card balances, plus some irregular personal loans from local loan sharks to meet the minimum payments (I was sending back 2K GBP a month).
I am still abroad, but now I am in 3 months arrears (As the borrowing circle has finally caught up with me) with most of my UK creditors and its all falling apart. I can't really leave the country as I also have debts here (Although they are manageable?), and going back to the UK would mean another period of unemployment which may be substantial as I have changed my careers skill set.
My UK mail is sent to me at my parents address, but for 8 months now I have chickened out on having it sent to me and dread going online to look at the card balances. I have considered never returning to the UK as an option, but not sure if that will help anything, I am panicked, and not sleeping.
I did call the creditors and MBNA were actually bullying me to pay something I just couldn't (I spent 1 hour and 6 minutes going in a big circle), Amex were polite and quick (8 minutes), Barclaycard they just advised me to keep paying what I could (6 minutes).
Is it possible to do an IVA from abroad? As leaving my current job would be financially dangerous (Not sure if the local bank will let it happen either) and I don't have the money to fly home for a meeting. Please note the country I am in is not in the EU and I require a visa to stay here.
If someone out there has managed to apply for an IVA or has used a company that can specialise in this sort of situation, then PLEASE CAN YOU HELP ADVISE me on what to do next.
I know that people can continue IVA's from abroad, but I don't know about starting one.
I will bump this back up and hopefully one of the experts will get back to you soon.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks for being the first to drop a reply - thanks for reading. I would really appreciate any comments or feedback from anyone who has experienced the same situation.
Looking for an amicable way out with all creditors.... [?]
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi expatalex ... just wanted to welcome you to the Forum. I would re-post your message in the "postings for june" part of the Forum at the top and I am sure that one of the experts will pick up on then.
