Get expert opinion. This is the place for new questions to be posted.
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Kelly.jc
- Posts: 8
- Joined: Wed Jun 06, 2012 1:05 pm
Hi,
I received my completion certificate in March 12, how long is it before i am able to get a phone contract or a credit card etc??
Many thanks in advance
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Broke of London
- Posts: 7761
- Joined: Sun Sep 05, 2010 6:04 pm
- Location: United Kingdom
It varies from phone company to phone company but I believe T Mobile are quite helpful. Once the iva is off your credit file you'll have a better chance. Congrats on completing x
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
- Location:
Hello,
Your IVA will remain on your credit record for six years from the date of acceptance and you have to make sure that any defaults post acceptance have been removed.
T mobile are supposed to be quite good and you could try Vanquis for a credit card.
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Kelly.jc
- Posts: 8
- Joined: Wed Jun 06, 2012 1:05 pm
Thank you for the responses.
Is that 6 years after you get your certificate??
Thank you
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
- Location:
Six years from when your original IVA proposal was accepted.
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Kelly.jc
- Posts: 8
- Joined: Wed Jun 06, 2012 1:05 pm
Thank you very much, that should work out as being July then!!
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kazzafunk
- Posts: 4749
- Joined: Sat Mar 19, 2011 6:47 pm
- Location: United Kingdom
Not long to go then Kelly! Well done on completing.
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deb.ml
- Posts: 115
- Joined: Tue Feb 16, 2010 8:24 pm
- Location: United Kingdom
Congratulations on completing your IVA!!!
IVA started Sept 09. Glad to be on the way to being debt free
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ginger3232
- Posts: 2610
- Joined: Tue Jan 11, 2011 4:06 pm
- Location: United Kingdom
Kelly - agree with the others - however as for getting a credit card - you may the high street brand a bit more difficult to get - as some lenders are adding increasing amounts criteria in order for the indiviudal to qualify.
You may wish to try Vanquis/Granite - high APR so pay off monthly
Also although your IVA is completed (well done) you are not going to have any postive credit history on record - that unfortunately can take a few years to build up again.
Last edited by
ginger3232 on Wed Jun 06, 2012 2:22 pm, edited 1 time in total.
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Kelly.jc
- Posts: 8
- Joined: Wed Jun 06, 2012 1:05 pm
Thank you all, your responses have been most helpful
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sponge
- Posts: 1094
- Joined: Wed Sep 07, 2011 4:25 pm
- Location:
on the plus side if you have had a cash account with no overdraft for the last 5 years you'll get stright zero's (a very good thing) on your credit file. Check that all three credit agencies have cleared down your defaults and IVA post July
I figure the more credit you apply for now the more other lenders will know that you've had an IVA and some things stick, just my take on it. (a bit paranoid I guess)
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
- Location:
The more credit you apply for now and get turned down for, the worse it looks.
Vanquis are usually quite IVA friendly for credit cards.
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Dougie
- Posts: 217
- Joined: Thu Oct 30, 2008 7:11 am
- Location: United Kingdom
A phone contract is understandable but why would you want a credit card so soon after finishing your IVA? I for one will never have one again, ever!
IVA Accepted - Sep 2009
F&F Accepted - Oct 2014
CC Received - Jul 2015
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
- Location:
A credit card paid off monthly can go towards rebuilding your credit for later. In the future you may want a mortgage/car loan who knows.
Well done on completion. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Kelly.jc
- Posts: 8
- Joined: Wed Jun 06, 2012 1:05 pm
Once gain thank you for the responses, Dougie i really dont want another credit card thats where my downfall was (although i am allowed them for work), but thought that it might help increase my scoring for the phone contract and well done for getting half way there. Lesley well done i'm sure it will be all worth it in the end. I know i struggled toward the end but getting back all my wages was definitely worth it.
Regards
Kelly
