Lump sum F&F IVA will make it difficult for me to rent house?

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Toto185
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by Toto185 » Thu May 18, 2017 8:20 pm
I am in the process of taking out an IVA, offering a lump sum for full and final rather than monthly payments. I am concerned if I have to move, will the IVA make it difficult for me to rent? And at some point will I qualify for credit again?
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Foggy
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by Foggy » Fri May 19, 2017 7:04 am
Although you are actually "in" the IVA for a much shorter period, your credit files will be trashed for 6 years from the start date regardless. An IVA does make renting difficult, though not impossible, as you will fail credit searches. This can be overcome by renting privately ( many private landlords do not credit check) rather then through an agency. Or, you can often get accepted by offering a larger deposit / rent in advance or a guarantor.
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Lisa Thomas
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by Lisa Thomas » Fri May 19, 2017 8:11 am
Have you considered doing a deal direct with creditors rather than through the IVA? This could be worth exploring.

Moving with the IVA on your record will depend on the landlord's position. Some will not like it, some won't mind and others won't check...
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