Page 1 of 1
Posted: Wed Nov 21, 2007 7:36 pm
by EmmettB
There is no way I could afford to pay enough into an IVA to get it accepted with the rent I am currently paying.
If I moved house to one with a lower rental, and then shortly afterwards applied for an IVA, how would it be viewed by creditors?
Would they look at where I have moved to, and possibly insist on me moving again to a cheaper place if they could find one?
Thanks for your help
Emmett
Posted: Wed Nov 21, 2007 9:48 pm
by Adam Davies
Hi
I would think that creditors would look upon your move in a positive way as long as the property was reasonable to your needs
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 Nov 22, 2007 3:56 am
by EmmettB
Thanks Andy.
I see from your "about myself" pages on this site that this is what you did before you went into your IVA, although you sold a house too, so slightly different.
What were your considerations for choosing where to move to? Did you consult with an IP before you moved? Did you go for the absolutely cheapest place that met your needs?
Emmett
Posted: Thu Nov 22, 2007 11:28 am
by Adam Davies
Hi
I moved before my IVA and went for the cheapest that I could find[3 bed terraced for six of us]
Most creditors do not want your mortgage/rent to cost more than 40% of your income,so take this into account but once your IVA is completed you can bounce back into a larger property if you want to.
Good Luck
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