Only with 'mortgage lending' will a past declared iva affect you as evidenced here.
No other credit related applications are affected or even for job vetting purposes,so 100% correct.
As two posters have intimated here..Sponge and Mole...the iva record soon drops off completly and not a digital trace! The banks only ask the iva question as they are scared who they might be dealing with.They have not got a clue years later as the archive debt records aren't kept after the 6 years.
The disturbed cokehead banks wouldn't support the right not to declare it!(like having done time at her majesty pleasure for some crimes and NOT putting it on job app)
But pulling a poker face when asked about a past iva....mmm...??
Last edited by TzeKin on Fri Oct 10, 2014 3:46 pm, edited 1 time in total.
I dont know what I would say if I was asked when my iva drops off my credit file 'have you ever had an iva..?' I think I would leave it up to a broker who deals with past iva people to guide us through the process and trust that they could help us secure a remortgage.
An IVA is a long hard road but valuable lessons have been learnt along the way. Now looking forward to enjoying a debt free future!
We are at similar point in our IVA's - December's payment will be our 2 year point (although hubby has just started payment break as he has to buy a replacement car for his driving instruction business) and I can empathise with what you are saying but feel more positive than you do. We have now completed 2 years without a bank overdraft or borrowing any money and that makes me really proud.Yes, it has been quite hard but we have managed to have the odd weekend away by budgeting very carefully and don't give a stuff about what my friends, people at work or neighbours have got or how often they go on holiday.As others have said, the likelihood is that it is on credit anyway and if they can afford it, good luck to them! As I have said on this forum several times, children want your time, love and support more than being taken away on expensive holidays so don't beat yourself up about not being able to go anywhere exotic - our holiday this year was 2 nights in a Youth Hostel in Shropshire but the kids loved it. Although it is very tough, just think that the money you are spending on your IVA payments are probably less than what you were trying to pay towards your credit commitments (this is certainly true in our case) so you were living beyond your means, so having to stick to your IVA budget means sticking to what you can afford. Good luck with the rest of your IVA.
Some very inspirational posts here!! It's great that people take the time share their positive experiences because however positive I aim to be there is always a negative hiding in the background x
