Individual Voluntary Arrangements (IVA's) and filing bankruptcy while living abroad
Are you now living abroad with an IVA that is based in England?
It is possible to file bankruptcy from abroad if you have, or have had an IVA that was originally set up in the UK. This is dependent on the Country that you now live in and also the date that you moved from the UK, but in many cases coming out of the IVA and declaring bankruptcy from overseas is possible.
Bankruptcy from Abroad has helped many clients all over the World to deal with their IVA and to move from their IVA into bankruptcy. Due to the complexity of these situations we always recommend consultations to discuss your circumstances-there are many factors to be considered and in some cases it may be better to finish the IVA-especially if you are close to the end of the agreement.
Filing bankruptcy in England from overseas with an IVA
To file a bankruptcy the IVA must have defaulted and been terminated by the original IVA Company. An IVA may be considered in default after three of the monthly payments have been missed. It can take some time for the IVA Company and the Insolvency Practitioner to finalise the IVA as the payments that have been received must be totalled and some money will be distributed to the creditors. In cases where the IVA has terminated in the initial 24 months a majority of the payments may be taken by the IVA Company as their fee for dealing with the IVA.
IVA Termination Paperwork and bankruptcy
For a Court in England or Wales to accept a bankruptcy where the person has been in an IVA, certain paperwork is required. The Court must have clear confirmation that the IVA has defaulted and finished otherwise they will not accept the bankruptcy.
Assisted bankruptcy from abroad service for people living overseas with an IVA
Bankruptcy from Abroad has helped many clients living overseas to go bankrupt in England when they have had an IVA.
We will deal with all aspects of the bankruptcy paperwork and also deal with the IVA Company on your behalf. Our comprehensive bankruptcy service will obtain all of the relevant paperwork that is required by the Court from the IVA Company on your behalf thus making the whole process very smooth.
Contact our company for a free and confidential review of your situation.