Can a very good credit rating ever be achieved again ? Can IVA show up in a hidden record ?

[Charles.ab]

I understand that an IVA is cleared from the credit file 6 years after it started. Does this mean there is no record at all as some credit files go back 5 years. Will this mean They won't show a year of non payments and 4 years of payments within an IVA? Or as i wont have nay other credit agreements in that time that are late there will it show blank late payments and blank payments agreements. Does the IVA show up in a hidden record. For instance if i want to get a morygage in the future, will it show up on a search. I know i might be asked the question when filling in the form, but just wondered whethe rit was hidden in the background somewhere. Also can a very good credit rating ever be achieved again?

[plasticdaft]

Payments to an iva wont show up on a credit file. The iva itself will show up in the public information section for 6 years from when it started.

After that its a case of building up a picture of good repayments slowly as if the iva had never existed.

paul

[Foggy]

Hi Charles. There is a useful guide here:

http://pjgrecovery.com/clean-up-credit-rating.asp

The IVA and associated defaults ( if dated correctly) will disappear completely from the CRA files. Check for any Notice of Correction and ask for that to be removed too, as this has to be done manually.

Some lenders do, it seems, keep historic archives, especially those in the same group of companies of any of your old creditors, so an IVA could come to light. However, if you have responded honestly to any relevant questions, this should pose no problem.

Yes, an excellent credit rating is achievable, given time and good entries from well run accounts ( mobile phone, credit card, bank account etc).