I am about to gain permanent residence in Canada, by way of a common-law sponsorship from my canadian girlfriend who is already in Canada. The confirmation is due any day, and do not invisage any problems.
Apart from the debt, my main problem is that my name is on the title deeds of our house in Canada. So obviously this limits my options, at the moment I am living with my parents in England. I am about to get an IVA set up in england, pay a few months and then get over to Canada. Then if possible keep the repayments up, thankfully I am not earning that much in England at the moment- so my repayments are scheduled to be around the £350 mark. However if this reaches £400, it would start to become impossible.
We have owned the house for a little of a year now, so there is equilty in the house- but not substantial.
I thought my current plan was the best one with ClearStart, but after readin various posts on here- I havnt got a clue whats gonna be best for our future. I have obviously made terrible choices in regards to money, I really dont want to get this one wrong.
Me and my girlfriend are considering returning to the UK in about 5 years time.
I see a link regarding the setting up of an IVA when abroad- how would this work in regards to our property in Canada?
I am also concerned about the fact that all my debt has been incured from my parents address, where they will continue to live once I have left the country.
I know there is alot of questions and I will probably have more- so any help at all will be appreciated.