hi,
i am in an iva agreement and now made 7 payments. i have recently moved out of the flat i was renting due to certain damp issues and other problems. i have temporaily moved in with my dad. he has no idea that i have an iva. i do plan to look for a new place to rent in the next few months. i am paying my dad rent and so my outgoings are almost the same as what they have been, however i am worried that at my yearly review i dont know how i can prove that i have been giving money to my dad without him knowing about the iva? i have told my IP that i have moved and they havent said anything about reviewing my payments at this stage, so do i just wait till the yearly review? As i said i do plan to rent again soon and therefore i would be able to show rent going out, but what if i did end up staying at my dads what would i need to show at the review? i hope you can give me advice. what does actually happen at the yearly review and do i have to prove all of my outgoings on bank statements etc? many thanks dan
Why not ask your Dad to make it formal to get a rent book for you signed each week or set up a standing order payable to your Dad named 'rent'. I would make sure you IP realises you've moved back in with your Dad and the exact amount you're paying to avoid any surprises at review time.
Welcome to the forum by the way x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I had this problem when I was setting up my IVA as I rent from my cousin and had no formal agreement in place / writing and did not want her to know I was entering into an IVA. IVA company requested a letter stating the amount I paid each month and what this included i.e c/tax rates etc, so I did the "lie" thing and told my cousin I needed a letter to confirm rent as I was looking into appying for a loan and they needed confirmation.
Not sure on your situation could you maybe say you are looking into getting a mortgage and need a confirmation letter for that.
Im no expert so maybe worth checking with them in the know who post on here regular.
If you pay your Dad via Standing Order you could use the reference 'Rent' for your account so that it shows up as that on your statement and then you can highlight it each month ready for your review. Remember your Dad could be subject to Tax for rent received depending on how much you are paying him and what it includes.
I assume you don't share the same full name as your Dad? If you do it would be worth putting a notice of disassociation to him on your credit record if you are registering yourself at his address otherwise things could get confusing for his credit record. If your names are different then it is fine.
Speak to your IP - they will work with you to find a way round the issue without having to let your Dad know what you are doing.
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Other option is to ask your dad to officially sign off the rent each month, as you need to display a period of rental when you approach your next landlord etc as this would be evidence of payments on time for rent etc
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