I'm nearly at the end of my third year into my IVA. I was given notice by my landlady last week and now I am beginning to panic; I am struggling to find accommodation, I receive Housing Benefits, I am on a low income and have a poor credit score! I cannot see light a the end of the tunnel at the moment. I read that I could get a guarantor but this can be expensive, does my arrangement allow me to borrow money to pay a guarantor company? Can I get a free guarantor through my local council? Its difficult to get accommodation through private landlords. Can anyone come up with something?
A guarantor is usually a friend or family who will take on the debt should you fail to pay -- I doubt the IP will agree to you paying a commercial guarantor. Your IP might agree to giving you a payment break to save up some money for an increase deposit / rent up front.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk