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Posted: Wed Jul 25, 2007 10:24 pm
by abhey
1.CAN WE CONSIDER OUTSTANDING RENT OF THE CURRENT HOUSE FOR IVA.
2.IF THE PERSON IS OVER 65 BUT HE IS STILL EMPLOYED ,CAN WE CONSIDER THAT PERSON FOR AN IVA?
Posted: Wed Jul 25, 2007 10:44 pm
by Adam Davies
Hi
Technically they are an unsecured debt but an IP may not include them within an IVA as it may jeopardise your relationship with your landlord and make you homeless.They are more likely to agree a repayment plan outside of the IVA.If it were arrears from a previous property then this could be included.
There is no upper age limit.
Regards
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Posted: Thu Jul 26, 2007 9:30 am
by Oliver
There are no age restrictions for applying for an IVA but I so know that some IPs will not look at taking on older clients. We will take each case on it's own merits and I am sure that many other IPs will do the same.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp
Posted: Thu Jul 26, 2007 9:30 am
by iva_squirrel
Hi abhey and welcome,
That person can be considered for an IVA if is over 65 and can guarantee an income for the next 5 years.
Regards,
Michelle P.
Posted: Thu Jul 26, 2007 12:40 pm
by iva experts
Welcome to the Forum,
Tension could be caused if your current landlord was included in the IVA as a creditor, so it would be best to come to an arrangement to pay off the arrears you currently have. Then once these arrears are paid off the extra money can go towards your IVA.
As long as the 65 year old person can remain employed for the duration of the IVA, I dont see a problem with this.
Best Regards. IVA Experts
Posted: Thu Jul 26, 2007 12:41 pm
by Oliver
Agreements to pay the rent arrears off during the IVA are often sanctioned by the IP and the Creditors for the reasons mentioned by IVA Experts above.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp