www.iva.co.uk

Currently in an iva and I have a lodger which I have issues with. Due to my mental health and other conditions now I cannot live with them and I don’t want to have a lodger. Previously I had to have a lodger due to not having enough income to cover my Iva payments (currently £405) I have 12 months left in my Iva if I ask my lodger to leave this will leave me with £50 for my Iva. Can the Iva company force me to keep having a lodger?

They cannot force you to keep the lodger, but they could fail the IVA if you cannot make the agreed payments, putting you back to square one with your creditors.

You could ask for a reduction in payments due to reduced income, but I doubt they will go down as far as £50 and they might ask for the IVA to be extended to make up for it. They might accept closing the IVA early on payments made to date. But asking for that is a 'do or die' move and a last resort.

You need to have a chat with your IVA provider ---- just mention the possibility that your lodger is going to leave (which is beyond your control). Do not mention that you are asking them to leave (which is in your control).

Cheers. I also have the added complication of the equity clause due in July next year

Update a family member has come in to offer a lump sum to pay off the remainder but it won’t cover the amount required with them wanting me to remortgage. They have held the next payment and made my creditors aware. Just waiting for the offer to be made to the creditors and then the outcome meeting

Fingers crossed for you. Let us know how it goes.

Best of luck with the offer.

Further update, friend has now withdrawn offer due to unexpected expenses. So will see what happens at the end of September

Not the news you wanted but these things happen unfortunately. Hope September brings you better luck.