would IVA affect 4yr sponsored working visa??

[l.f]

I am working abroad for the next 4 yrs. I have unsecured debts of approx 17,000 pounds in the uk that I am struggling to make he payments for each month. I could afford about 250pounds a month (currently around 400). If I applied for an IVA how would this affect my 4yr sponsored working visa?? And can I do all the forms whilst not being in the uk??

[MelanieGiles]

Hi lf and welcome to the forum

An IVA will not affect your visa, but I am not sure it is the right solution for you, as you would be paying in £15,000 over a 5 year period and only owe £17,000. If you were to extend the repayment period by one year, and persuade your creditors to stop charging you interest, you would repay the debts off in full and your creditors would avoid having to fund the costs of an IVA.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp