An adverse report

Landlord Discussion
1

So one tenants got an Iva due to previous relationship they say. The couple earn £30 k each so can individually affiord the 975 pcm they have the highest income if the 12 applicants abd will go in to buy when Iva expires. Which I believe and suits my plans should I let to them

2

Takes a lot to get to IVA stage.
Make sure you look at at least 12 months bank statements, evidence of savings etc.

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3

I know two people with iva’s and you have to be a complete idiot with money to obtain one , I wouldn’t trust them and I would find another tenant

4

Before you accept or reject them, it pays to understand the IVA process. It’s not the joint income you need to understand, it’s the disposable income after the IVA repayments are made, then all the living costs. If you go to the National Debtline site and look for the information sheet on IVA’s you’ll understand the process more.

However, you cannot include:

  • maintenance, or arrears of maintenance, ordered by a court;
  • Child Maintenance Service or Child Support Agency arrears;
  • magistrates’ court fines;
  • mortgage, secured loan or rent arrears unless your lender or landlord agrees (which is unlikely); and
  • student loans (for IVAs made on or after 6 April 2010).

Also what’s not in the IVA? Rent arrears/mortgage debt cannot be included. So further down the line is someone going to come after them which puts the affordability of your rent (plus the IVA) under stress.

If you want to give people a second chance, fine. It’s laudable to do so but check, check and check again.

5

Thank you all. I liked the couple more than most of the other 18 and tiger mint in one was highest. I’ll ask about debt servicing … oh I wouldn’t pass affordable myself …. Ha ha

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6

Hmm lots of choice but most on benefits

7

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