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Posted: Thu Feb 10, 2011 6:50 pm
by Kevin.ll
HI I ASKED A QUESTION EARLIER AND THANKYOU FOR YOUR RESPONSE I WANT TO KNOW IF I CAN RENT MY HOUSE OUT AND MOVE BACK IN WITH PARENTS AS I CARNT AFFORD MY MORGAGE AND IVA I WOULDT BE MAKING A PROFIT OUT OF IT I WOULD GET AROUND THE SAME AMOUNT BUT IF MY MORGAGE EXCEPTED THAT I COULD DO THIS WHAT WAYS WOULD IT EFFECT MY IVA ANY ADVISE ON THIS PLZ
Posted: Thu Feb 10, 2011 6:54 pm
by kallis3
Hi Kevin,
I think you can do that as presumably rent will cover the mortgage. You need to speak to your IP about this.
Posted: Thu Feb 10, 2011 9:20 pm
by Broke of London
Hi - make sure you would personally feel the benefit of cost savings before making any changes. If they were absorbed 100% by the iva you wouldn't be any better off. Some people can keep 50% of any reduction in expenditure.