Credit References for potential tenants

[tilda]

When checking references for potential tenants, what views do landlords (or letting agents) hold on those tenants with IVA's (Individual Voluntary Agreements). These are not the same as CCJ's and is NOT bankruptcy, rather an agreed form of legal debt management. I am considering applying for an IVA but don't want this to go against me in the future when making an application for a residential letting. I can provide excellent character references, exc landlord references x3 and have no bad credit history up until this point. Most likely I shall be applying for joint tenancy with my husband (who does not know of my current financial difficulties and I do not want him to know). I have never defaulted on any rental payments and will never do so, especially if an IVA is in place.
Help anyone please?

[curmudgeon]

Tilda

Please forgive my personal opinion as a husband. If my wife got into financial difficulties, and deceived me by not telling me about them, how do I know that she would not deceive me in other ways?

To contemplate an IVA I assume that you're being advised by someone professional, such as the Citizen's advice. I'm sure they're well versed in advising you of the best way that you can let your husband know about your present difficulties. Letting him know now before it comes out may seem unthinkable, but these things have a habit of coming out, so its better that you do it on your own terms than being forced to admit it later. He may even surprise you by feeling guilt that he's left managing the finances to you and hasn't helped with the budgeting and the decision making.

The Motley Fool has a boad entitled 'dealing with debt'. http://boards.fool.co.uk/Messages.asp?bid=50079 If you haven't looked at it, you may find some of the stories there helpful.

All the best.

[tilda]

Thank you for your honest opinion, which of course you are entitled to. Without going into too much detail, in 'normal' circumstances I agree with you that it would be better to discuss with my husband. Unfortunately, the last time I broached the subject with my husband about financial difficulties becoming insurmountable (and they are worse now), it all ended up in a nasty domestic violence incident for which the police were called, he was charged with assault and it went to Court - And this for money worries which were then just as much down to him as they were to me. Worries have escalated since then as I had a period of a year having to cope on my own with no house, transport etc. We are reunited (?? very wise, considering this was not the first incident of its kind) - hence the reason for me having no inclination whatsoever for bringing this particular subject to the fore again).
Thanks for your opinion anyway. But, I have my reasons.
p.s. No other deceit involved - would I dare???!!!

[Jennifer_M]

Tilda. sorry I'm going to say something that won't really answer your question but I think in your situation your money worries are the least of your problems !

A mariage CAN'T work if there's no trust and security. Your husband has hit you before and you are scared of him, you can't talk about your financial problems with him, basically you are living on your own but with the threat of someone hitting you when he feels like it ?!
You'd be better off living on your own but safe, then you can deal with your financial problems (without him making them worse) one by one and then get back on track.

There's plenty of help out there for women in your situation, and plenty of women who now live happy.

Regarding IVAs, I guess if they appear on credit checks a LL would feel more suspicious than if you were completely debt free.
That said some LLs are understanding and if you explain it to them they might be willing to accept you as a tenant.
And of course there are the LLs who don't actually check the tenants properly.

Good luck to you anyway.

[Dan]

The wisdom of your decisions aside, you asked for opinions from Landlords (Not Marriage Guidance) and so here is mine.
I ask prospective tenants to complete an application form which asks if they have any outstanding CCJs but it does not ask about IVAs. I use the information from the form to obtain a credit rating from an online agency. The agency checks their credit history and their references and gives them a score which tells me how risky they are as tenants.
I would suspect, although you don't mention it, that you may already have some negative credit history in place. This being the case, that would impact on your score regardless of the IVA. I will try to find out some more for you from the credit checking agency that I use.

[tilda]

Thanks for your comments - I know what my message must read like & I know it's more than the financial issues I need to address - but all in good time. For now it's the financial advice I need & I thank everyone who has responded - I'm not looking for sympathy (or marriage guidance Dan!!) but am grateful websites such as this exist.

[Tootsie Roll]

An IVA is only one step away from bankruptcy and at least as bad as having ccj's although you may well have those as well if your finances have got that bad. I personally would not consider a tenant with a less than perfect credit rating regardless, but as I have been invloved with debt collection for 15 years it could just be my prejudice.