My husband and I are in an IVA and are currently renting a house £850 per month. Can anyone tell me if we were to move to a cheaper rented house would we have to pay the difference in rent over to the IVA? My husband is self-employed and things are really difficult at the moment and there's no way we can afford to stay in this house.
Not if you are stuggling - but get your IP in the loop at an early stage to explain to them what you are planning on doing and the reasons why. It is possible that your IVA payments could be lowered first, rather than going through the upheaval of moving.
If you move to a cheaper house, you would need to contact your IP and fill in a new I&E, so you may well be able to keep some of the rental payment.
If you are struggling anyway, I would certainly speak to them anyway and see if your payments can be reduced.
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
