Banks are still doing them with 10-20% deposit by which time it will be a good 4 or 5 years after the IVA dissapears off my record so that should be a factor in things.
I class that as a hefty deposit. Mortgages are not as easy to get at the moment as they used to be.
However, I'm not going to get into a war of words with you so I shall leave this thread alone now.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
My IVA is a 6 year IVA - I have read all your comments, does that mean my IVA will drop off my credit file before I complete it? Or will it be 6 years, then completed, then drop off after the 7th year? I am only in year 3 but like others, I will never have another credit card!!!
IVA completed September 2014. Finaly debt free - final dividend 88p/£
If you stick to just the one card and pay it off at the end of the month it can be useful way to build up your credit rating. Wait till everything is clear on your credit file though and get a normal rate card from your current bank if you can.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
I don't mean to be rude, but im quite worried that your not even out of you iva and your looking to enter into credit straight away. My advice would be to get a cheap runaround then put the £600 a month away and in 2 years you will have enougth to buy a good car?
Maximoose I would have to agree in the case of buying a car, if you can wait 2 years it would be cheaper in the long run as you could buy it for cash, and avoid all the interest.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
I always said I wouldn't have a credit card again, but I have a Vanquis card which I pay off each month and I have to say it does come in handy. Last week I had to take Harry to the vets and it cost more than I thought so I was very glad to be able to put it on my card.
With respect yes u said u didnt mean to be rude but whats the point if a cheap run around then saving for a year and buying a car outright that would come to the same as the interest on a loan anyway.
Also im looking to save money and have the last bit on a loan. Your comment on about a run around is a little unfounded as having one for 2 years means 2 years fo insurnce, tax and mot's plus fixing any things that go wrong outvalue the interest i would pay on a loan.
Im not on about getting a £8k loan or anything saft just a couple of grand as the way thing are my car wont last til next xmas then i will be stuck without any mode of transport.
Plus apart from that the only other finance i would ever have is a mortgage so its one off im going into debt again i have learned my lesson!!
As for the other comment that most mortgage comanies want 30 or percent deposit if you shop around you can easily get a mortgage for a 10 20% deposit.
