i am currently considering an iva i was wonder though does it affect other people that live at the address that all my debt is at?? i have moved into my own rented flat but have kept all my financial stuff at my parents address, would an iva affect my parents credit or would my iva show upon their address
As long as you don't have any financial dealings with your parents, they will not be affected by your IVA.
I recommend that you speak to a professional. Visit www.iva.com for a list of companies and reviews where you will receive free and impartial advice as to all the options open to you and the best one for your circumstances.
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
Your poor credit rating is unlikely to affect your parents, and if it does they can file a notice of disassociation from you with the credit scoring agencies in any case.
You need to have a chat with an IP and give him/her details of all your personal and financial circumstances and particulars.
Visit www.iva.com for reviews on firms and practitioners and select one or two to have a chat with.
They will give you the appropriate advice and it is free.
Good luck and let us know how you get on.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.