Hi! I've been talking to a debt advisor and the best solution for me would be IVA. I'm concerned about renting and getting a car insurance anytime if I go through with the proposal. I'm currently renting with a partner (not married) who pays all of the rent, but my name is on the rent agreement. With an IVA am I able to move house with my partner if I've got an IVA due to it showing in my credit records? My partner has got good credit record and is not involved in my personal IVA.
Also I'm currently taking driving lessons in a hope of completing and getting a car next year. Would I be able to get a car or car insurance if I'm on IVA?
Many thanks in advance!
You would be very unlikely to get a car on credit, or save enough for a cash purchase. Also some insurance companies don't like IVAs and you might have to fish around for monthly premiums.
Moving also presents challenges, as you will fail a credit check. Some landlords will mitigate this with a higher deposit, rent in advance or a guarantor. Private landlords will be easier to deal with as many don't run credit checks.
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