Help - in a panic!

[Pap]

Hi

Don't know if anyone can help with this one but here goes anyway.
21 months into iva, all payments up to date,struggling but managing just. Son started at uni September 2010 and has been home for Christmas, due to go back tomorrow. Son knows nothing of our finances and I'd like to keep it that way, ashamed enough of myself without him knowing.
Anyway, he's in halls this year and as his uni is in an area where there are a number of unis all in close proximity, accomodation for year 2 is highly sought after and has to be secured early.
He has, along with 4 other friends found an affordable place within reasonable distance of campus and we paid a securing deposit before the holidays.
He has now just announced that we need to complete guarantor form in case he doesn't pay rent and there's the problem. They want wageslips, ni number, employer reference, character reference and authority to carry out credit search.One of the questions asks if you are bankrupt, have ccj's etc and if so for details, but don't ask about iva's.
So,do we ignore it, do we offer more info than we may need to and how do we explain it to son if he has to drop out cos he can't find anywhere to live next year?

I already feel bad anough about all of this, whatwe've done with money, how we've let people down by not being able to repay and, honestly, without being dramatic, as I'm in a really bad place emotionally anyway, I'm not sure I can carry on with it all.

Any help/advice/experience would be welcome.

ps- just realised I don't even know if we're allowed to fill in this form when in an iva without prior consent - anyone know?

Thanks
Px

[Broke of London]

Hi - firstly, please don't feel ashamed of yourself. You got into a situation and now you are getting out of it. I'm not sure whether you can act as a guarantor while in an iva because if the rent fell to you, you couldn't pay it and it would become a post iva debt. Do speak to your IP about it tho as i may well be being over-dramatic! And if you can go ahead, they can advise on completing the tricky section as it all depends how it is worded. Even if you can guarantee the rent you will need to pass the credit check or overcome it...putting down a double deposit or paying six months up front can overcome the check.

Is there a grandparent or aunt/uncle who could go guarantor? You only need to tell your son you're going through a tight patch.

[Pap]

Unfortunately there isn't anyone who can do it instead,
I really do not know what to do.
We are already paying a hefty deposit which includes rent in advance and the kids have already arranged with the agents to pay their rent well in advance of it falling due when their loans are paid out 3 times a year.
How do people manage to rent homes when they themselves are in an iva - how can you ever manage an acceptable credit check?

What about the students where parents/families aren't working, don't own their homes, are retired etc etc - how do they manage to get accomodation?

Sorry to ramble but I'm sitting here shaking as I'm in such a panic. I know it probably seems quite small but on top of everything else ( and being in the throes of a really bad period of depression) I don't know what to do.

Thanks

P

[kallis3]

I don't think you are allowed to act as guarantor whilst in an IVA, but run it past your IP Pap.

[Broke of London]

Hi Pap - of course this is important to you. It is natural that as a mother you are concerned about your son. Hopefully, one of the posters in a similar situation will be along with a few suggestions. I rent and the credit check only searched for br and ccjs so I came up clean but some agents do a thorough check and will spot the iva. But the first discussion is whether you can act in the first place. Are you and your other half both in the iva? There is always a solution! Are you managing your depression or is this new to you?

[Julie]

Hi Pap, I don't think you can be a guarantor in an iva, see this previous

post http://iva.co.uk/forum/topic.asp?TOPIC_ID=31119

If its joint tenancy does each individual need a guarantor?

[Broke of London]

Students in shared houses usually hold individual tenancy agreements. This was certainly the case for everyone in my day. If you cannot find a guarantor for your son, he could ask the uni accommodation office about his options. They will have experience in this area. Or if he can find some way of paying for the year upfront this will negate the need for a guarantor - he may be eligible for a hardship loan to be repaid when his loans come in. Definitely worthwhile speaking to the student welfare office about this or other types of financial support. There will be a way to make this work!!

[Pap]

Thanks for all your replies. Not quite sure what we can do now, understand fully that being guarator for a loan is the same as being part of a joint loan but as this is just to ensure rent will be paid thought maybe this would be different and it was only the credit check bothering me - didn't even wonder if we could be guarantors for this until I started to write my initial question.
We are both in iva's so that's no good and there's no way wecan get a years rent together to pay upfront.

Depression unfortunately isn't new to me, I've been bad and dreadful on and off for the last 4 years since my world ended but I'm trying to resist going back on medication again. Too much temptation having all those pills in the house.

Thanks anyway - off to completely fall apart now.

P

[Broke of London]

Oh Hun look after yourself. I've had anxiety and stress conditions most of my adult life and I know how bleak everything can seem. There is support for your son! He needs to know you cannot act as guarantor asap so he can make alternative arrangements. The university welfare and accommodation offices should be able to help with information or maybe even financial support. Many reserve rooms in halls to help students with accommodation problems.

[MelanieGiles]

Have you forward this query to my colleagues who are supervising your case Pap? There are various things we can do to assist here, and if you scan and e-mail me the papers I will take a look for you. Always better to seek advice directly from your IP at the end of the day.

[Julie]

Oh Pap, please don't fall apart [:(] Speak to your IP and see if there's a way around this.

xx

[Pap]

Thanks everyone for your suggestions.
Not sure what we'll do yet.
Melanie - as usual this only came up earlier this evening so we haven't yet had a chance to speak to your team. That was a task on the list for Monday but in the meantime I'm going to speak anonymously to the agents to see if there's another way round it.
I do tend to see things very bleakly and am really struggling at the moment anyway - fool I know!
THanks again - will let you all know how we fare.

Px

[Rosepetal]

Pap, big big hug. i suffer with depression too as well as other health problems. i understand what you mean about having the medication in the house incase you feel you can't cope and give in. you really must go and see the doctor. you can be given a prescription for less medication more often,if you buy a prepayment certificate from the chemist(they last 3months,then you don't need to keep paying out for each prescription).

you really need someone to talk too,your doctor can help with that. or if dire ring the Samaritans,i will find the number for you and post it here or it's in yellow pages if you need it now.

we have a son at uni (he just found out last night his house has been robbed,they took all sorts of stuff)so i had a very wobbly night myself! he is covered under our household policy, so make sure your son is covered too.
our son was already in his accommodation when our "mess" blew up(i didn't know a thing,my hubby was trying to manage&got in a terrible mess).
You need to ring the uni for advice/help, they have funds set aside to help with certain things and they also have houses they rent. it is possible for a student to stay in halls for a 2nd year- so you wouldn't need to worry about being a guarantor. i think it's student services you need to ask for. be honest with them about the situation.

We,like you don't want our son to know,partly shame,partly i don't want him to worry and be distracted from his studying. but, i think we will have tell him. they are not stupid,they sense something is wrong. our son is very good at managing money, if your son isn't then he does need to know,he's got to manage finances very carefully.

you shouldn't fill any forms in knowing you can't pay if needed regardless of if you are allowed to in the IVA.

I will keep an eye open for your posts,you're not the only one coping with all this,with a child at uni and feeling so fragile.i'm where you are and i promise i will keep an eye out for you posting.people post at all hours but if no one is around you need to ring the Samaritans.

so, ring student services on Monday and go and see your doctor, you don't even need to accept a prescription. if you're with Melanies team then ring her or Tina,they are very helpful.
big hug x

[angelrainbow]

I doubt you can be a guarantor - we have guarantor for our private rental (we lost our home and had to go into rented accommodation)and they have to be able to have enough disposable income to be able to pay a certain amount of months rent.
You need to stop being ashamed - been there, done that and gave me nothing but grief. Owning up to our problems was the best thing I have ever done.
There must be families on benefits whose children go to uni and are in halls - therefore there must be ways and means around sorting this out. Your son really does need to know so he can talk to the appropriate people about his options.

[Julie]

Hope you're ok Pap xx