I am approaching the fourth year of my IVA and at the moment I live by myself, in a flat that I owe (it's mortgaged). However, I now want to move into my boyfriend's house, that he owns. This would mean paying rent to my boyfriend that is slightly less than my mortgage and dividing all utilities etc, so I would be able to pay back a higher amount each month. I would also rent out my flat. I am just not sure whether this is something that I am allowed to do whilst in the IVA and, despite ringing and emailing, my case worker hasn't replied to me. Please can someone advise whether this would be acceptable or not? Thank you.
My payments would be unaffected - in fact, they could increase.
I am with Payplan and in general, I find them really good. However, I do keep changing case workers and haven't managed to even speak to my current one.
I just wasn't sure whether I was allowed to rent out my flat whilst in an IVA (although of course, anything extra I made from it could also go to my creditors). I would also appreciate confirming that my IVA won't in anyway affect my boyfriend. We don't have any joint credit and we are just going to split the bills in half. As all the bills are currently in his name, would I need to change half of them into mine? Or would he have to draw up an agreement that showed how much I was paying him (and what it was for), which I could then also show on my bank statements?
Thanks again for the advice. It's very much appreciated.
Do make sure that your mortgage company allows you to rent out the flat. Your IVA will not affect your boyfriend's financial position - and I would leave the bills in his name, but obviously you will pay a contribution towards them. You could also draw up a rental agreement between each other which shows how much you contribute into the household on a monthly basis.
