Major change of circumstances - Move abroad. Please help!

haveToMove

Hi,

I really hope that someone can help us.

I am (if I can work out how) planning to declare myself bankrupt. My partner (who doesn't live with me) is just over a year into his IVA .

My company have just offered (and really want me to take up) me a transfer to a job in Germany to start asap. There's a possibility that my partner will be able to find work over there from September but it would be at a significantly lower salary than currently.

He has a house which is worth less than the outstanding mortgage. We know that he would be lucky to get 2/3 of the monthly mortgage cost in rent. He doesn't want to lose the house, or be declared bankrupt.

I believe his IVA is pretty much at the minimum % which is usually accepted by creditors though he has been paying into that for the last 13 months.

As he would be able to get some rent (income) for his house and could live with me in Hamburg, it's possible that, even with a reduced income, he would be able to offer the IVA approximately the same amount as he does now. However we can't know exactly how much until we know what work he can find. The problem is I need to make a decision fairly soon on whether to take up the Germany job offer. It's a great opportunity and (in my own poor circumstances) I would like a chance to start afresh. However I do not want to do so without him.

At the moment the main reason he's giving for not wanting to make the move is that he's worried about being automatically made bankrupt as it would be considered a 'voluntary change of circumstances' or simply becuase he'll no longer be in the UK where 90% of his creditors are based.

Is this what would happen or would there be another meeting with the IVA? If it would be another meeting with the IVA what are the chances of success so that he can continue to keep the house and not be made bankrupt?

Please help!

Also, I really need some help with bankruptcy advice. I don't know where to start to initiate proceedings. Is there a simple tick list of actions somewhere on here that I can begin with?

Charco_2

If he moved, would he be able to maintain his repayments to his IVA?

(Sorry just read the bit that explains that)

You can speak to your IP about a payment holiday... to see if you can make things work in Germany but that you fully intend to honour the IVA. If it ends up that your partner cant afford to maintain the same payments and needs to decrease them a little then offer an extension of a year to your IVA (the IP would earn an extra year's fees so this should appeal to him)

*** Remember, it's all about negotiation ***