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Renting with an IVA
rambo26
Posts: 38 Forumite
I have recently seperated from my wife and moved out of the family home and back in with my parents. I've said that she and the kids can stay in the house so not to disrupt the kids in these already hard times and i will rent a somewhere.
I went into an IVA in October 2019 to help sort our financial situation which she mainly got us into (hence why we ended up seperating).
Im now worried that i'm not going to be able to rent somewhere because of the credit checks. I can easily afford to pay everything as i'm on a good salary. But due to being in an IVA will this be a problem or are there ways around it?
I went into an IVA in October 2019 to help sort our financial situation which she mainly got us into (hence why we ended up seperating).
Im now worried that i'm not going to be able to rent somewhere because of the credit checks. I can easily afford to pay everything as i'm on a good salary. But due to being in an IVA will this be a problem or are there ways around it?
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Comments
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Probably not an issue anyway. But given everything, can you not wait out 6 months and the IVA is then closed?0
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I thougth an IVA was 12 months? You've got me doubting myself. (though i may be thinking of a DRO...)rambo26 said:Comms69 said:
6 months? Its 6 years.Probably not an issue anyway. But given everything, can you not wait out 6 months and the IVA is then closed?
(if you mean reported for 6 years, then yes)0 -
No my IVA is to pay upto 5-6 years. I know it stays on credit file for 6 years from date started.Comms69 said:
I thougth an IVA was 12 months? You've got me doubting myself. (though i may be thinking of a DRO...)rambo26 said:Comms69 said:
6 months? Its 6 years.Probably not an issue anyway. But given everything, can you not wait out 6 months and the IVA is then closed?
(if you mean reported for 6 years, then yes)0 -
My apologies, for some reason I had it (incorrectly) in my head as a 12 month limit.rambo26 said:
No my IVA is to pay upto 5-6 years. I know it stays on credit file for 6 years from date started.Comms69 said:
I thougth an IVA was 12 months? You've got me doubting myself. (though i may be thinking of a DRO...)rambo26 said:Comms69 said:
6 months? Its 6 years.Probably not an issue anyway. But given everything, can you not wait out 6 months and the IVA is then closed?
(if you mean reported for 6 years, then yes)
It's unlikely to impact heavily on your ability to rent0 -
Ah thats great, was worried as i have seen a few stories of not being able to get accepted to rent a property due to poor credit rating caused by IVAComms69 said:
My apologies, for some reason I had it (incorrectly) in my head as a 12 month limit.rambo26 said:
No my IVA is to pay upto 5-6 years. I know it stays on credit file for 6 years from date started.Comms69 said:
I thougth an IVA was 12 months? You've got me doubting myself. (though i may be thinking of a DRO...)rambo26 said:Comms69 said:
6 months? Its 6 years.Probably not an issue anyway. But given everything, can you not wait out 6 months and the IVA is then closed?
(if you mean reported for 6 years, then yes)
It's unlikely to impact heavily on your ability to rent0 -
Im not saying it doesnt happen. But there arent tens of thousands of employed people on the streets due to IVAs...rambo26 said:
Ah thats great, was worried as i have seen a few stories of not being able to get accepted to rent a property due to poor credit rating caused by IVAComms69 said:
My apologies, for some reason I had it (incorrectly) in my head as a 12 month limit.rambo26 said:
No my IVA is to pay upto 5-6 years. I know it stays on credit file for 6 years from date started.Comms69 said:
I thougth an IVA was 12 months? You've got me doubting myself. (though i may be thinking of a DRO...)rambo26 said:Comms69 said:
6 months? Its 6 years.Probably not an issue anyway. But given everything, can you not wait out 6 months and the IVA is then closed?
(if you mean reported for 6 years, then yes)
It's unlikely to impact heavily on your ability to rent
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It might be worth asking on the bankruptcy / IVA board as I'm sure some members would be able to say what their personal experience has been.Mortgage started 2020, aiming to clear 31/12/2029.0
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They may ask for 6 month rent up front or a guarantor.0
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I have a guarantor but not the 6 month rent up front as i need to buy furniture, white goods and a car.luvchocolate said:They may ask for 6 month rent up front or a guarantor.
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