the implications of renting a smaller house?

[nsha]

My partner and I started an IVA in january this year and pay £300 a month. We live in rented accommodation and pay £700 a month rent plus bills (altogether our joint wages of nearly £2000 barely cover everything, neither of us has had a payrise in 2 years and have just lost £80 a month due to work cutting pay)

We have been offered a smaller house for £400 a month and wondered what the implications would be because of the IVA. Would they take the £300 that we wouldn't be paying in rent (even though this wouldn't be disposable as such as we are behind in bills plus my partner has a child who he pays maintainence for which has just gone up). Any help would be greatly appreciated.

[Viki.W]

Hey nsha, you should talk to your IP, you will probably have to submit your new income and expenditure, Please wait for an expert's advice. Viki X

[plasticdaft]

Defo have to go to IP with this and do new I&E. Good luck.

[MelanieGiles]

Your IP will undertake an overall reassessment of your situation, taking into account the rental reduction but also your salary reduction and increased bills. What sort of employer would instigate a salary reduction at this time of high fuel and food prices? It beggars belief!