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| kentmikey |
Posted - 25 January 2010 : 13:51:41
Hi everyone, apologies, it's been a while since I have last been here, I am wondering if I have jumped out of the pan and into the fire. We were in an IVA, we stopped the payments in November as we feel its best for us to go BR. However, we have recently found out that our landlady needs to sell the house we are renting, I am now very concerned that because we have missed payments to the IVA would this go against us even more when we go and get a new house to rent?
I was also wondering if its possible would it be best for us to pay the back payments to the IVA whilst we are looking for a new property, I will also pose this on the IVA site.
Any help would be very much appreciated as to be honest I am starting to panic over this.
Thanks
Mike |
| 3 L A T E S T R E P L I E S (Newest First) |
| Housing |
Posted - 26 January 2010 : 09:49:36
Hi
Some good advice given already.
The choice to stop paying the IVA for 3 months and then petition for bankruptcy may be an option.
There are a number of things that will work as to your advantage as being BR - the debts are "gone" upon petition and you will be discharged in 12 months.
I suggest that you speak at an early stage to one of the insolvency experts here - tehy will point you in a direction - then contact a few estate agents and see if they will take BR applicants as tenants - I used to - I may have been in the minoroty - every BR tenant I had were fine - better than so called safe with glossy references!!
If you have a few months to wait before your landlord needs the property, you could have a deposit and not say you are BR
Lots of options - first two or three calls to the insolvency experts - the advice they give at initial stage will be free and my best regards to you for a debt and stress free life - perfectly achievable, I feel. Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!) |
| Daniel Griffiths |
Posted - 25 January 2010 : 22:38:29
I think if I were your landlord and I am one, I would feel more secure in getting paid my rent from a bankrupt with no debt, that someone with an IVA to service every month. |
| gettingoutofdebt |
Posted - 25 January 2010 : 17:47:38
The missed payments with the IVA shouldn't go against you as chances are your credit score will not be very good when you are in an IVA.
I don't know about an IVA but most rental agencies will not let to people who are BR unless they have several months deposit. You could call a couple of agencies and see whether they would rent to you while you are in an IVA without any large deposit.
I can't say whether you can pay the IVA payments back and then carry on as you were but I think you really need to consider your future very carefully.
If you had decided to let the IVA fail in Nov and declare BR then you must have done this for a reason. Were you struggling with the payments, did you think that BR was a quicker way to write your debts off, etc?
Whatever the reason once you are BR there is no going back so you really need to take time to think about your debts and whether you are going to continue with the IVA (if you can) or declare BR. |
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