I live with my Nan in Guildford but commute to London everyday. However my Nan is moving into my aunties house soon and I will have to move out and my rent will go up by a considerable amount (around £500) as I would want to live in London. Will I be allowed?
Hi and welcome. You will need to talk to your IP and complete a revised income and expenditure form to ascertain what amount would still be payable to the IVA (assuming you're in an IVA).
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
You will need to speak to your IP about this and possibly do a new I&E as your expenses will be different.
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
Hopefully some of your current travel costs will offset any rent increase, but, as mentioned above, you will have to discuss the ramifications with your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It comes down to whether iva is viable based on increased expenditure.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Your IP might have to call a variation meeting of creditors to approve a drop in your contributions into the IVA as the net increase is so high they may not be able to use their discretion.