paid of my IVA in full how will now affect credit

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stephanie_f

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Post by stephanie_f » Mon Jul 21, 2008 12:03 pm
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I have paid of my IVA in full. How will now affect my credit files going forwards?
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rayb

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Post by rayb » Mon Jul 21, 2008 12:07 pm
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Hi Stephanie,

Once you get the certificate of completion send copies to each of the credit reference agencies however the IVA will still stay on your file for 6 years from its inception so credit will be a problem although you will probably not want any anyway!!!![:D]
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kallis3

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Post by kallis3 » Mon Jul 21, 2008 12:07 pm
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It will take 6 years from the date your IVA started to clear.

You can have the agencies mark your file as satisfied by sending off a copy of your completion certificate.
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
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plasticdaft

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Post by plasticdaft » Mon Jul 21, 2008 12:08 pm
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Any defaults will still show for 6 years. In a word,your credit rating will still be rubbish!!
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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stephanie_f

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Post by stephanie_f » Mon Jul 21, 2008 12:21 pm
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Thanks for this information. What if I wanted to sell my house which I currently own by myself and get a new place with my fiance and take out a joint mortgage. How will this affect me?
rayb wrote:

Hi Stephanie,

Once you get the certificate of completion send copies to each of the credit reference agencies however the IVA will still stay on your file for 6 years from its inception so credit will be a problem although you will probably not want any anyway!!!![:D]
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emma_t

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Post by emma_t » Mon Jul 21, 2008 3:38 pm
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Hi Stephanie

Just wanted to say VERY WELL DONE for completing your iva [:D]

It must be a huge relief
Emma x
Be positive & look after yourself, there are more important things in life than debts....

Best Wishes

Emma x
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MelanieGiles

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Post by MelanieGiles » Mon Jul 21, 2008 7:23 pm
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Stephanie

If you have a deposit of at least 20% to put down on a new property, you should have little bother getting a mortgage but be prepared to be penalised on the interest rate if you have a history of personal insolvency. This should right itself when your six year credit scoring period is spent.
Regards, Melanie Giles, Insolvency Practitioner
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