oustanding rent

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abhey

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Post by abhey » Wed Jul 25, 2007 10:24 pm
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1.CAN WE CONSIDER OUTSTANDING RENT OF THE CURRENT HOUSE FOR IVA.
2.IF THE PERSON IS OVER 65 BUT HE IS STILL EMPLOYED ,CAN WE CONSIDER THAT PERSON FOR AN IVA?
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Adam Davies

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Post by Adam Davies » Wed Jul 25, 2007 10:44 pm
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Hi
Technically they are an unsecured debt but an IP may not include them within an IVA as it may jeopardise your relationship with your landlord and make you homeless.They are more likely to agree a repayment plan outside of the IVA.If it were arrears from a previous property then this could be included.
There is no upper age limit.
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Andy Davie
IVA.co.uk Spokesperson

About me:
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Andam Davies
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Oliver

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Post by Oliver » Thu Jul 26, 2007 9:30 am
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There are no age restrictions for applying for an IVA but I so know that some IPs will not look at taking on older clients. We will take each case on it's own merits and I am sure that many other IPs will do the same.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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iva_squirrel

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Post by iva_squirrel » Thu Jul 26, 2007 9:30 am
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Hi abhey and welcome,

That person can be considered for an IVA if is over 65 and can guarantee an income for the next 5 years.

Regards,
Michelle P.
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iva experts

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Post by iva experts » Thu Jul 26, 2007 12:40 pm
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Welcome to the Forum,

Tension could be caused if your current landlord was included in the IVA as a creditor, so it would be best to come to an arrangement to pay off the arrears you currently have. Then once these arrears are paid off the extra money can go towards your IVA.

As long as the 65 year old person can remain employed for the duration of the IVA, I dont see a problem with this.

Best Regards. IVA Experts
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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Oliver

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Post by Oliver » Thu Jul 26, 2007 12:41 pm
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Agreements to pay the rent arrears off during the IVA are often sanctioned by the IP and the Creditors for the reasons mentioned by IVA Experts above.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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