We have to move

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Kev.42

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Post by Kev.42 » Tue Sep 07, 2010 4:47 pm
I currently have an IVA which has been running for 9 months.
The IVA is in my name, but took into consideration mine AND my wife's income, - which I have reservations about now, having spoken to an independent person.
We currently live in rented accommodation, but were recently told we must leave our accommodation as the landlords wanted to sell the property.
My wife has to undergo surgery next month, therefore we have not got sufficient time to look for a property to rent.
We have taken the decision to temporarily move in with my mother, and address our situation later on, perhaps 2-3 months once my wife has recovered.
We will be paying nomimal rent whilst we are there instead of the approx £800pcm we pay now. What will happen in the time we are with my mother where the IVA is concerned?
I do not want to be paying all our rent into an IVA and that situation remains, which in turn will not allow us to move out of my mother's home, into a property of our own again!

To add to this mix, I am currently in a job which I may have to leave due to ill health/injury. My salary is almost the same as the rent we currently pay, i.e. £800pm.
If my IVA provider wants to seize the money we are saving by temporarily living with my mother, should I contemplate actually leaving/giving up my job, in order to equal out our income and keep our expendible income at the same level, thus keeping our IVA payments excatly the same?

Kev
 
 

Tina Shortland

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Post by Tina Shortland » Tue Sep 07, 2010 4:54 pm
Hi Kev.42 - welcome to the forum - sorry to read about the number of worrie you have currently got.

You are going to need a deposit and month's rent in advance when you move back into a new rental property so it would not seem unreasonable for the saving you can make to be put towards that.

It is down to the IP representing you to advise on what should happen so best you contact them asap before making any drastic decisions.

Keep us posted as to how you get on,

Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.

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kallis3

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Post by kallis3 » Tue Sep 07, 2010 5:02 pm
Some posters have to put up more than one months rent in advance - at least one person on here has to pay six months upfront.

I'm sure your IP will be understanding and allow you to keep some money back to finance the move.
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liamjames

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Post by liamjames » Tue Sep 07, 2010 5:06 pm
Hi Kev and welcome to the forums!

It sounds like your income and expenditure is going to vary wildly over the next few months, and it would probably be best to involve your IP in every stage of the situation.

I'm sure they will be supportive. :)
Take care,

Liam James
Varden Nuttall
http://www.vardennuttall.co.uk

Read our reviews here: http://www.iva.com/iva_companies/Varden_Nuttall.asp
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