renting house, what will happen if I enter an IVA

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dwba

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Post by dwba » Mon May 05, 2008 11:55 pm
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i am renting a house. What will happen to this arrangement if I enter into an IVA??
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facingittogether

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Post by facingittogether » Tue May 06, 2008 12:00 am
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hi and welcome to the forum

i am not an expert but i think as long as you can afford the rent a;ong with paying other essential bills plus your iva payment there shouldnt be a problem with you staying in the house.

it may be worth you getting some professional advice from professionals that post on here.

wishing you the very best

barb x
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MelanieGiles

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Post by MelanieGiles » Tue May 06, 2008 12:08 am
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Your property rental will carry on outside of the IVA - albeit you carry on paying your landlord directly so long as there no arrears of rental. If there are arrears these will need to be included in your IVA, and then your landlord will have to be informed.
Regards, Melanie Giles, Insolvency Practitioner
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luluj

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Post by luluj » Tue May 06, 2008 6:24 am
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If you rent through a letting agent, then you will need to tell them if you go tochange properties or they carry out a further credit check - be upfront with them and they will understand the IVA situation - try to hide it and it could have a negative effect.

If you rent privately then you should be fine!
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dwba

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Post by dwba » Tue May 06, 2008 7:28 am
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I pay £1200 a month for a 3 bed bungalow. Will I be asked to downgrade??
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MelanieGiles

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Post by MelanieGiles » Tue May 06, 2008 8:50 am
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So long as you can justify why you need a property that expensive there should not be a problem. Do you live in the South East?
Regards, Melanie Giles, Insolvency Practitioner
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dwba

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Post by dwba » Tue May 06, 2008 9:15 am
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I live in Essex. I have 2 children and there are no spare rooms.
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