Credit Score is high but in IVA

[Marley]

Hi Ive just last month paid a full and final settlement of my IVA it hasn't as yet gone through the completion process so i'm still waiting on my certificate, BUT i signed up to experian to check my credit rating and look at what to start to rebuild but its already showing as 973 Max is 999 and only showing two defaults from Max recovery none of the others?

I cant see anywhere where it states im in an IVA (not sure if it does this or not?)

Question is how can my score be high when im in an iva?

[craigiewicked1]

bargain

[Niobe]

Hi and welcome to the forum.

I wouldn't take too much notice of the scores with the agencies, most lenders these days apply their own criteria and I doubt you could get credit. Your score will get higher if you keep up with your other bills.

I was unable to get a full account with Nationwide even though my credit record was fine but then got one with Barclays two hours later!1

Your IVA should show under the section for Court I believe.

[Marley]

Yep definately not on there I can see where it should be under public info but says no records held?

[Niobe]

Check Call Credit and Equifax as well - it could be on there. I take it you are still on the Insolvency Register?

[luluj]

Experian credit score is not used in the main - I was told Equifax was the one that most creditors used if they using scoring at all - certainly our mortgage company used them last year and we had to have a score of over 450 to pass ....we scraped through with 460's each and that was when the IVA had concluded, and left the insolvency register but was still on our records.

[tonyranks]

thats why your score is so high, do u have any active credit showing

[PeterRadcliffe]

An IVA will affect your credit rating as it will stay on your credit file for six years after the date of commencement. If you finish your IVA early, it’ll still appear on your credit file for six years. you may struggle to take out further credit while it’s still on your credit file. your creditors may record a default notice on your credit file. The default notice indicates that the original credit agreement has been broken, and will be visible on your credit file for 6 years