Will I be able to live in London at a considerably increased rent ?

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paulm1985

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Post by paulm1985 » Tue May 24, 2016 4:07 pm
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?
 
 

Shining

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Post by Shining » Tue May 24, 2016 4:12 pm
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.
 
 

kallis3

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Post by kallis3 » Tue May 24, 2016 4:12 pm
Hi and welcome,

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
 
 

Foggy

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Post by Foggy » Tue May 24, 2016 4:15 pm
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
 
 

lifenoteasy

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Post by lifenoteasy » Tue May 24, 2016 8:11 pm
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.
 
 

kev59

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Post by kev59 » Tue May 24, 2016 8:39 pm
good luck in finding a flat any where near London for £500 a month. as other have said you will need to talk with your ip
IVA now over with and it was worth it.
now starting my life again,
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed May 25, 2016 9:27 am
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.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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