renting house

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jackso-b

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Post by jackso-b » Tue Oct 19, 2010 12:03 pm
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does anybody know if i can rent out the house that i currently live in (but cant afford too)and go into rented accomodation at a price i can afford, due too my salary being alot less than when i took the iva out i simply have less coming in than going out
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Michael Peoples

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Post by Michael Peoples » Tue Oct 19, 2010 12:34 pm
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There is nothing wrong with what you are suggesting and speak to your IP. If the mortgage is not covered by the rent there may be an issue but if the idea is to protect the IVA it should be fine.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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jackso-b

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Post by jackso-b » Tue Oct 19, 2010 1:26 pm
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thanks for that, i will try to do the right thing.
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Broke of London

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Post by Broke of London » Tue Oct 19, 2010 5:36 pm
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Hi, you are doing the right thing and it shows an admirable and inspirational commitment to your creditors.
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kallis3

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Post by kallis3 » Tue Oct 19, 2010 5:38 pm
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Let us know how you get on.
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
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MelanieGiles

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Post by MelanieGiles » Tue Oct 19, 2010 10:57 pm
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Make sure that your mortgage company will allow you to rent the property out. Not all will agree to this, and you may find that this breaches the terms of your mortgage.
Regards, Melanie Giles, Insolvency Practitioner
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