www.iva.co.uk

Hiya

I am from england but currently on a working holiday in australia (for the last year) I am in quite a lot of debt on credit cards and and have been paying the minimum payments out of a very large overdraft on my current account for the last year. My parents have been topping up my account for me when needed and as I have been working in Oz I have put some money aside from my wages to pay them back when I get home in March. When I get home I am going to be living back with my parents and I have work to go back to so will have income straight away, although I will still be looking for another jon this will ust be to fill in the time in between. If I am suitable for an IVA when can I apply? Can I get the ball rolling while still in Australia or do I have to wait until I get home and have been working in a job for a certain amount of time? Im really keen to get my mess into a more managable situation, with the interest im paying im not really getting anywhere paying the debts off and im worried sick. I owe about 24,000pounds althogether on 6 credit cards and overdraft. Any advice would be greatly appreciated. Many Thanks

Hi there and welcome to the forum from so far away! Hopefully the weather in Oz is somewhat better than over here!

You can most certainly get the ball rolling with regard to an IVA or DMP from Australia, as the majority of the information can be gathered from you either on the telephone or electronically. I actually have a few clients who live in Australia, and so long as we remember the time difference, I am able to speak to them with ease as if they lived just round the corner.

How much do you feel that you would be able to offer to repay your creditors on a monthly basis if you were to pursue either of the above options? And do make sure that you consider all solutions, as bankruptcy proceedings may also be suitable for you as well if your budget is minimal.

Enjoy the rest of your stay, and do continue to use the forum for advice and support in the meantime.

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