I'm wondering what happens regarding a change of address during an IVA?
I am currently paying £300pcm rent but have been asked to move out by my current landlord.
I have found a similar property locally but the rents have increased since I agreed my original tenancy. My new property will cost £400pcm in rent and I'm worried about how my IP/creditors will react to this. Also, will they request evidence of the increased rent such as bank statement or tenancy agreement?
Provide the necessary evidence to your IP and so long as the IVA contribution is still viable for you, it can be adjusted to accommodate this change in cost of living. It may require a variation meeting depending on your current level of contribution but really don't worry about it, creditors are generally understanding of such circumstances.
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I work in insolvency as an IVA Drafter. I've been working in this industry for over 7 years and have seen every scenario you can imagine. I am experienced & knowledgeable in this field, so if I can offer any assistance to anyone, I'll be glad to help.
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The opinions posted in this forum are mine alone and not those of my employer (though I'm sure they'd agree with me!)
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