www.iva.co.uk

Hello,
I was looking for some advice.

My husband has recently been offered another job.
It comes with accommodation (not free) we would need to pay a monthly amount to them as a standing order to cover rent & bills.
We own a property which we pay a mortgage on. We therefore would need to move and hopefully rent out our house to cover the mortgage. The new job is slightly less money than his current but his current job has a lot of uncertainty and there has been a lot of redundancies and his current post is likely to end in a years time. The new job will be much more secure. Also the bills will be slighly less than they are currently which will make the drop in salary irrelevant.

My question is this, will the IVA company go to his new employer to verify this as we won't actually have a tenancy agreement? Being 'credit worthy' will not affect the job offer but we really don't want his new employer to know about the IVA.
Also is it likely that the IVA company will allow him to take the drop in salary even though we will have reduced bills?
We are also currently doing our I&E for our 1st annual review, why do things get so complicated?!

Any help would be greatly appreciated.

Kind regards

Hi there and welcome to the forum

I assume that you are already in an IVA? If so, or even if you are thinking about proposing one, your IP will need to verify your income and accomodation costs - will the later be deducted directly from salary? In which case this is easily checked without direct contact with his employer.

If you are already in an IVA do you anticipate that your payments will reduce as a result of the change of circumstances?

Hi Melanie,

Thank you for the quick response.

Yes we are currently in an IVA.
We will be slightly better off so will expect if anything our payments to increase a little based on the circumstances.

The details are yet to be finalised but at interview my husband was told that the existing arrangement is that a monthly payment is made via standing order to cover all accommodation costs, rent,bills etc.

Would a monthly standing order as evidenced by bank statements be enough for the IP?

Thanks again for your help.

I think you need to get the new employer to confirm all of the costs to you in writing and you can then produce this for your IP.

I think that is probably the most sensible way forward.

I'll get my husband to ask them for this.

Many thanks

Welcome to the forum from me too bunny, sounds like a way forward has been found and I wish you well x

Good luck bunny. Hope it all works out.

Let us know how you get on.

Thanks for the replies.

I can't see it being a problem. I'll get him to tell them that we'd rather have everything in writing to cover ourselves.

Thanks again