www.iva.co.uk

Hi, I am currently in my 3rd year of my IVA and so far all is going well. I'm currently back home with parents and have been since my IVA began but my question is this: My life is changing and I want to move in with my partner now. Under an IVA - is it best to remain as a "lodger" with him until my IVA is over as I can't go on his mortgage yet anyway and is it better to keep seperate bank accounts as ideally we would like to joint one? I don't want him to be affected in any way by my IVA. Any help would be appreciated.

Great site by the way.[:)]

Hi
There is no problem with moving in,you will need to speak with your IP just to determine if your disposible will change.If your disposible income reduces because of your move then the IP may need to call a variation meeting,but hopefully your living costs will be similar to when you were at home and no change to your payments will be required.
There is no problem in having a joint account,although your IP will need to see statements at each review,depending on their policy.
Regards

Thank you for this information, that is really helpful.

I would personally keep as much as you can separate from your partner until the IVA has concluded. You should come to some arrangement with him with regard to paying a fair share of the mortgage and household bills, but I would suggest you retain your own bank account and hopefully this will enable you to maintain IVA payments at the required level.

Is he aware of the existence of your IVA?

I am in a similar position, living at parents house. I don't want my boyfriend to have any association with me financially or address wise until my IVA has completed.

Am I right in assuming that his credit rating is at risk if I am associated with his address?

Hi
I doubt it,if you don't have the same surname it is unlikely that there will be any association made by creditors,however if there is your partner can write to the credit reference agencies and lodge a notice of disassociation
Regards

Excellent, thanks Andy

Hi Andy

I have a question about this subject, that for now i dont want to be made public, but could i e-mail you the question " in confidence " but if after you think it would helps other i will post it on here?

Hi
Sure,use the contact Andy link