www.iva.co.uk

I live with my Nan in Guildford but commute to London everyday. However my Nan is moving into my aunties house soon and I will have to move out and my rent will go up by a considerable amount (around £500) as I would want to live in London. Will I be allowed?

Hi and welcome. You will need to talk to your IP and complete a revised income and expenditure form to ascertain what amount would still be payable to the IVA (assuming you're in an IVA).

Hi and welcome,

You will need to speak to your IP about this and possibly do a new I&E as your expenses will be different.

Hopefully some of your current travel costs will offset any rent increase, but, as mentioned above, you will have to discuss the ramifications with your IP.

It comes down to whether iva is viable based on increased expenditure.

good luck in finding a flat any where near London for £500 a month. as other have said you will need to talk with your ip

Your IP might have to call a variation meeting of creditors to approve a drop in your contributions into the IVA as the net increase is so high they may not be able to use their discretion.