Moving Country while in IVA

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Post by Shilo » Thu Sep 23, 2010 10:03 am
Hi, Can someone give me some advice. I have been in an IVA for a year and have now been offered a job transfer to somewhere in
Europe. How will the IVA work as I would need to get a new bank account and rent a new property?


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Post by kallis3 » Thu Sep 23, 2010 10:06 am

You will be able to move abroad, we have at least one poster on here who has relocated and I hope he picks up on this one.

As long as you can continue to make your payments you should be ok.
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.
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Post by animaleyes76 » Thu Sep 23, 2010 11:14 am

I moved from the country about 2 years ago.

You should be fine.

You should be able to get a decent bank account with a proper VISA card for a start (although electron is now accepted a lot more places than it was).

Obviously you won't be able to pay by direct debit. I just call my IVA company every month and pay by debit card and they are fine with that.

Renting a new property should also be a lot easier as you won't have problems with credit checks etc because your credit history won't follow you.

I literally just paid the letting agency, paid the landlord etc and it was all fine. It was actually much less hassle than having to ask my dad to be a guarantor every time i moved in the UK.

As Jan says, as long as you can make your regular payments it will be fine.

If you are going to be paid in another currency other than pounds i would suggest that you try to work out a basic budget for your first month. It doesn't have to be exact, just so you have a rough idea of income and expenditure.

I would also look at the exchange rate history for the last year/18 months so that you can see the best/worst case scenario and so you aren't surprised when rates go against you.

The first few months you will defintely spend more money than you will later on as you will learn where to buy things for better prices etc.

Of course an Income and Expenditure review may need to be calculated once you have a rough idea of prices in your new country. This is why it's useful to have a rough idea before you go.

Good luck, enjoy and if you need any further help juste give me a shout. :)
Last edited by animaleyes76 on Thu Sep 23, 2010 11:15 am, edited 1 time in total.


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Post by MelanieGiles » Thu Sep 23, 2010 11:51 pm
I've now got clients in 26 different countries - and they manage to meet their payments with very little difficulty.
Regards, Melanie Giles, Insolvency Practitioner
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