www.iva.co.uk

Hello, could someone please clarify my current situation? I am half way through my IVA and my partner has asked me to move in with him. He has spoken to his accountant who has told him that I am not to goanywhere near the mortagage - I knew that anyway, but that he isn't to tell anyone that I would be living with him as this would affect his credit rating as well? Is this true? We would not have shared bank accounts until my IVA ends and I wouldn't be put on the mortgage until this ends either but would me moving in with him really affect his rating?? I want to be really upfront with my situation and tell my IVA people of my change of address etc even though my finances wouldn't really alter. I am just worried that me moving in with him will have a knock on effect and this really bothers me. Is it best to pretend I a am a live in lodger paying rent until the IVA ends? Any help would be appreciated.
Thank you.

Which is more important to your partner..... YOU..or his credit rating??

He should take you in "warts n all".

As it will be 6 years from the start of your IVA before your IVA is removed off your credit file, do you really want to be the live in lodger for the next 3 and a half years??

If he has any problems with his credit rating, a letter to the credit reference agencies disassociating him from your debts should do the trick.

Sorry I think I may have worded this wrong - my parter isn't bothered by my IVA - his credit rating is very strong and he already has a mortgage of his own. We both realise that I cannot be on his mortgage due to my circumstance until my IVA ends. My question was by me moving in - will this affect him and his rating? He isn't bothered how we get around it as long as we do. But my pride does play a part and I don't want him personally affected by my situation in terms of his ratings.

It shouldnt affect his credit rating but as i have said, all he has to do is write a letter to the 3 credit reference agencies requesting he be disassociated from your debts. This will then be marked on his credit file.

Your ip may wish to reassess your I and e as your outgoings may be different. It would be to see that you are paying your share only of the bills, unless you would be paying a set rent like a lodger to him. Where are you now at home or do you have your own place. The best person to speak to will be your IP, they will best explain. Tell them you are considering it and would appreciate their view on how it could affect you both. If you have not moved you are only enquiring as to what would be the situation if you did.

All the best follow your heart its more important.

Ang

Good advice from the other experts - but do remember it is essential that you advise your IP about all changes of circumstance including addresses. Your IVA is unlikely to affect your partner, but there may be some reassessment of your income and expenditure as some of your household bills are bound to change as a result of now sharing a property.