I have been in a IVA now for two and a half years. I rent a small cottage and run my business from there. My payments on the IVA are all up to date and things are progressing quite well.
I am finding that the house is a bit small and I could do with more space. I mentioned this to a friend who has offered me accommodation in part of his large farmhouse.
He knows about my circumstances and is happy for me to make rental payments that would come to the same as my present costs, and I would have more space to carry out my business activities.
My only worry is that if I contact Grant Thornton to advise of a change of circumstances would they need to go back to the creditors to get permission and what would I have to do to prove my circumstances. I don;t want to have to go back to square one and have to submit everything over again it.
My new landlord would draw up a rental agreement showing the amount to be paid. Would I just need to supply an expenses sheet and the rental agreement as the costs are the same, or would it need to be submitted back to the creditors?
You would need to inform Grant Thornton about the change of address but creditors do not need to give permission. You have nothing to be worried about.
I moved house (renting) a year into our IVA, there were only small changes to our I&E due to moving, but our IVA company had no problems with this. We updated our I&E on our yearly review & sent in proof of the changes. But if yours going to balance out the same, you wont need to do this.
Good luck with moving to your new home x
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
