Will setting up an IVA make renting a house in the future difficult?
I have read there are some real life issues people are having with rental agreements as a consequence of having an IVA.
How does an IVA get monitored to check budget money in and money out?
If you are looking into an IVA then you should speak to several companies as they all have their own criteria.
It may cause problems with renting as your credit record will be shot.
You will do an income and expenditure review at the start and every year after that. You will have to provide wage slips and sometimes bank statements - it will be explained when you speak to an IP company.
Checking these things will depend on your circumstances -- a fluctuating income will require more scrutiny, as will special spending needs.
I , too, would sugest a chat with a couple of companies ( they do work slightly differently from each other, and some are more sympathetic than others --- a read around the forum will give you clues as to how we are getting on with our chosen firms).
Try a couple of firms but being able to speak with your insolvency practitioner is important as when you look around forums such as these it is a major bugbear that caseworkers change with the tide, you deal with call centres so correspondence is never answered and people can never speak to their IP. Best of luck with the application.
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