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Posted: Wed Nov 02, 2016 2:18 pm
by Steve.p
i lodged an IVA Feb this year cos of an accident. I have now secured a very well paid job overseas. I have contacted my practitioner and request i withdraw, they dont want me to. I have sent generic letters to all my creditors explaining my intentions. Please advise
Posted: Wed Nov 02, 2016 2:43 pm
by winter_blues
You can maintain an IVA whilst living abroad - many people on here are in that situation. Your other option is to offer full and final offer if you have sufficient funds from a third party.
Posted: Wed Nov 02, 2016 3:51 pm
by kallis3
Hi and welcome,
You can let your IVA fail by missing three payments but your creditors will then add on interest that you have not paid. Your credit rating will still be shot over here and the IVA will remain on your credit record over here for six years from the start.
Obviously the choice is yours but think long and hard about it.
Posted: Wed Nov 02, 2016 5:00 pm
by Foggy
As mentioned above, the IVA will remain on file for 6 years regardless. You cannot "withdraw", it has to be failed or terminated or you can "pay it up" by making an offer based on payments due, if you have access to such funds from a third party.