I am in an IVA and have undergone mortgage rescue and now rent my property via a housing association who bought the house from me. I was delighted when the Chancellor announced that social housing rents were decreasing by 1% a year. However my HA says they are increasing my rent as I am classified in the intermediate category - which is usually for people hoping to buy a home. Shelter say I should be classed as an affordable rent category rather than intermediate. Before the rent decrease announcement it didn't make much difference - but now intermediate rents are excluded from the decrease. How can I get clarity on his as it adds up to a lot of money over 4 years. Thanks for any thoughts.
I can only suggest that you visit your local CAB and ask for their advice as I have no idea on this.
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.
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I would think this is down to arguing the definition with the H.A. I imagine they have you on intermediate due to the fact that you were recently a home owner (same as you wouldn't yet qualify for many "first time buyer" offers ).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Apologies if I have misunderstood but whilst you're in an iva, it will make no difference to you, just your creditors unless you're repaying in full. Any decrease in rent will increase your disposable income and increase payment to creditors.
Whilst Relieved makes a good point, rent will, of course, need to continue to be paid long after the IVA has reached its end. So, although the savings go to the creditors in the short term, the OP will benefit in the long run.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014