Life after an IVA

[karenmorley]

Thanks Emma for your response

I really wish I had had this site when I started out because it is such a support mechanism.

I wish you luck with everything and 5 years goes quicker than you think!

[our7]

Me and my other half have just come out of a 2 and a bit year IVA, were we agreed to pay off what we owe from the sale of a house. We have both managed to keep in full time employ for the last 5 years, are renting a house from a family member which in years to come I will inherit. Yes we have endured the threatening letters from debt collection companies.

I'd like to know what happens with your credit file after your IVA? How long does it take to build trust again?

Remember all, it's not how you are when basking in the sunshine of life that makes you stronger but how you cope when your battered against the rocks. Tie your rope to that rock and stand firm and shout to the storm "Is that all you've got?, Is that the best you can throw at me". There is light but times can get very dark and very lonely in an IVA.

[MelanieGiles]

The IVA will remain on your credit file for six years from the date of your original creditors meeting - regardless of whether you have settled early or not.

Your credit rating will eventually be restored - the trick is to use future credit wisely and not to get into a financial pickle again.