implications of relationship getting more serious

[lobstar]

Hi I have met a lovely lady and wondered on the implications of our relationship getting more serious. If she moved in with me would i have to declare this? If i moved in with her could I rent my property and if so what proportion of the rent would I have to pay into the IVA?
If I sold my property would I have to have a review of my situation?

[MelanieGiles]

Hi lobstar and welcome to the forum

If your new partner is going to be contributing to the household budget, then you will need to declare that income to your IP - as the old adage two can live as cheaply as one may have some impact. In reality, two people cannot live as cheaply as one - but there will be some economies of scale, and if your financial position improves as a result then your creditors ought to be able to share in that.

If you moved in with your partner, and rented your property out, what effect do you feel that this would have on your finances?

[emma_t]

Hi lobstar

Just wanted to say good for you that you have met someone lovely and I hope things continue to go great for you.[:)]

I think from posts I have read that some people in iva's think they are on 'hold' for the duration of the iva and would not start a new relationship as would find it difficult. I understand that it may be tricky to explain iva to a new partner but as you have proved not impossible

Best wishes
Emma