IVA or Bankruptcy

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Aaron

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Post by Aaron » Thu Sep 20, 2007 10:49 pm
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Hi...what's worse IVA or Bankruptcy for an individual?
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scaredkez

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Post by scaredkez » Thu Sep 20, 2007 11:04 pm
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depends on your individual circumstances! please elaborate more on yours
kerri

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Please view my blog at: http://scaredkez.blogs.iva.co.uk/
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Aaron

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Post by Aaron » Thu Sep 20, 2007 11:18 pm
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I'm in an IVA and looking to make final settlement fingers crossed. I was just wondering what looks worst out of the two on your credit file?
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scaredkez

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Post by scaredkez » Thu Sep 20, 2007 11:20 pm
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to be honest in my own opinion they both look the same others will have different comments, all depends on which way you look at it and for why.
kerri

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Aaron

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Post by Aaron » Thu Sep 20, 2007 11:23 pm
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well just concerned about taking out a mortgages in a couple of years time...my IVA will still be on there (another 5 years yet).
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Aaron

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Post by Aaron » Thu Sep 20, 2007 11:26 pm
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also I did ask the other day how long it will appear on the DTI register once I have complete the f&f settlement, but I meant the Insolvency register...or are they the same?

Thanks
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scaredkez

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Post by scaredkez » Thu Sep 20, 2007 11:26 pm
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taking out a mortgage in 5 yrs should be fine if you meet the criteria and deposit, either way iva or BR will be on your file for at least 6 yrs.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/
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mikebdomain

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Post by mikebdomain » Fri Sep 21, 2007 7:12 am
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Hi Aaron,

I have just had a quick scan of our current mortgage products and found that an IVA in most instances, is considered more favourably in most of the mortgage criteria, especially where it has been run satisfactorily.

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iva experts

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Post by iva experts » Fri Sep 21, 2007 9:43 am
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Hi Aaron,

Just to add to others comments, If you are offering a Full and Final Settlement your details will come off the insolvency regester when a certificate of completion has been issued (when the offer is accepted).

However the IVA will remain on your credit file for the duration of 6 years from its original commencement.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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