Yes, certainly! Your creditors may query your rent if it is very expensive for the area you live in, but this is extremely common and if you don't own property then your creditors will generally expect it.
Hi Gemma, you can rent. I'm living proof. The IVA may cause a problem and I have posted some advice on your other thread.
Normally I would hesitate to advise but I have been in your situation and this is what I learnt and found helpful.
For info, I paid additional deposit and my Dad went guarantor. I also spent a lot of time explaining IVAs to my agent and his boss. After all this, they only credit-checked for BR and CCJs so my IVA didn't show up at all!
Best to be upfront though.
Hopefully some other renters can also tell you their experiences so you can build a bigger picture.
thanks im just trying to way up what would be better for my future as struggling with iva payments so think about bankrupcy but i need to be able to rent
x
Have you spoken to your IP about struggling with your payments? There are things he can do if your circumstances have changed or your budgets were misrepresented.
yep they said that the money i have left over after expenses is not enough for an iva i have to work out so i have less outgoings or go bankrupt. i just wanna no what will be best for me to get this debt sorted and still be able to rent..
Okay. If you decide to carry on with the IVA be very careful when you are looking at things you can cut back on though - you need to make sure that your IVA is sustainable for the full duration.
You will also be allowed to rent in bankruptcy, but the OR will need to tell your landlord that you are bankrupt. You risk being evicted if this violates your tenancy agreement, so you need to check.
Jamjam, have you spoken to a couple of firms or just the one? Some firms can get IVA proposals accepted with lower dividends than others. A lower dividend means you will need less disposable income.
I seem to remember Melane Giles - who posts on here - mentioning a couple of low dividends she has managed to get accepted. Other IPs are available (LOL)! She also comes very highly recommended by a lot of posters and gives very good, very fair advice.
Speak to a few companies though - www.iva.com is a good place to start for contact details and reviews.
The OR is the official receiver who is appointed in bankruptcy.
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.
Bob Marley. http://kallis3.blogs.iva.co.uk
Renting isn't a problem, I rent mu flat and share with my brother, we keep our bills separate and rarely eat together as our shift patterns are opposite all the time.
I have moved during my IVA as my previous landlord wanted to sell the house we had, due to the fact he had gone bankrupt. Im sure ive said before the balifs coming to the door for him, when he didn't live there really made me look at my money issues!!
I have stayed with the same tenacy company so they didn't do a credit check when i moved as this was done when i first rented with them. i did tell them i had money issues, all they asked was can i afford the rent and continue paying, i answered no problem so all good!
There are some posters on here who have to put up six months rent in advance because of their IVA so it's not the same for everyone.
I would check up with whichever agency or private landlord you decide to go with.
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.
Bob Marley. http://kallis3.blogs.iva.co.uk
