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Posted: Tue Oct 19, 2010 12:03 pm
by jackso-b
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
Posted: Tue Oct 19, 2010 12:34 pm
by Michael Peoples
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.
Posted: Tue Oct 19, 2010 1:26 pm
by jackso-b
thanks for that, i will try to do the right thing.
Posted: Tue Oct 19, 2010 5:36 pm
by Broke of London
Hi, you are doing the right thing and it shows an admirable and inspirational commitment to your creditors.
Posted: Tue Oct 19, 2010 5:38 pm
by kallis3
Let us know how you get on.
Posted: Tue Oct 19, 2010 10:57 pm
by MelanieGiles
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.