IVA but want to rent somewhere new...

ArchiesLittleGems

Hi, this is my 1st time so bare with me...Both me and my husband have a joint IVA which we have just started. We are in privately rented accomodation at present but need to move due to living in front of 4 lanes of traffic on the A1 and my husband being mentally ill. (He's been in hospital for 6 weeks now)
I have been looking for somewhere suitable for months and me and my dad finally went to view one yesterday. We were accepted by the landlord to move in but the Estate Agents just rung back saying that we can't have a credit check as we have an IVA. We accept that but my dad would be a guarentor but they still said no.
How do we know which estate agents use credit check agencies which accept IVA's and a guarentor? Is there anyway of doing it differently? Any help please...

Charco_2

Could you supply a deposit of around three to six months rent? Could be held in Escro or some sort of trust.

I know it's a big ask even WITHOUT an IVA.

ArchiesLittleGems

Hi, could do 4 months deposit at a push i reckon. Do you know if there is anyway of getting out of an IVA or is that not a good idea?
Many thanks
Sally

Charco_2

Wouldn't advise looking to get out of an IVA.

It's possible, it's rather easy in fact: You simply stop paying!

WARNING: There are plenty of companies who will offer to "free you" from your IVA - but generally their alternative solution is to take a lot of money from you and then put you on the road to Bankruptcy... if you're interested in Bankruptcy then you can do it yourself easily too without paying a lot of money for the privilege of a company doing nothing for you!

If you wish to leave your IVA, simply stop paying, after three months your IP will fail your IVA and provided you dont have large assets it is highly unlikely that he will pursue BR. However if you leave your IVA you simply open yourself up to being chased directly for the debts you are currently being protected from by your IVA. (This is likely to be the full amount of the debts you had when you started your IVA plus interest)

I know it's difficult but if you go back to the estate agents and offer a large deposit and a guarantor they may reconsider renting to you... im sure the landlord wouldn't mind if you could get in touch with him/her.

Max_1066

I'm just coming up against the same problem as I need to move for work. The IVA is likely to cause a problem with renting so 'Plan A' is to offer 3 months rent in advance. Plan B would be to offer a guarantor as well although I'd like to avoid this if possible.

If anyone has experience of this it would be much appreciated.

moneysavingplumber

Throughout my IVA we rented direct through landlords, not through agents. They tend to rely on proof of income and references from prior landlords, rather than expensive credit checking that is generally a way of making more money from the transaction, in my experience. Of course many people are put-off by horror stories about dodgy landlords, but we've had a far better experince with both of our last two landlords than we did with our two previous lets that were through High Street agents. The difficulty comes in finding a decent property privately, as they are few and far between, we were just lucky.