Moving home, tenancy agreements, deposits and loans from family - whilst under an IVA

Cody

Dear Forum;

I recently had a lump sum IVA accepted, and I am currently waiting for my employer to provide the funds to me to complete it, so in an inbetween phase at the moment.

I do need to move home urgently, due to my current flat being too small for my family of four (and growing babies / toddlers) and schools.

I recognise that my credit rating is Junk right now, and a landlord may not wish to accept me. I have therefore asked friends and family to provide me with funds to place a deposit and several months rent in advance, in order to placate a landlords concerns.

I will be contacting my IP about this, but thought would ask here first to get some different opinions. Am I able to sign a tenancy agreement whilst under an IVA, or do I need to have the IVA IP confirm this is ok? Also, I will be recieving a reasonable amount of money from my friends and family, which is in essence a loan. I know I am not to take on any debt. does this differ when from f&f, and so no official signed agreements are in place.

Thankyou for your views in advance.

Cody

Anondebtadvisor

You can sign a tenancy agreement while in an IVA - no problems there:-)

There is no need to ask permission of your IP only to let them know of your change of address if your IVA is not completed by the time you move.

How much money are you borrowing for your rent? might be best to run this past your IP just incase