Who can see my credit file?

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Bob and Gill

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Post by Bob and Gill » Mon Aug 25, 2014 3:40 pm
Hi all, my IVA is nearly up and I decided to test the water and apply for a small loan to see if my credit status was improving (bad idea I know!!). Anyway it was declined which is actually a blessing as I had no intention of going ahead with it.

However, this will leave a footprint on my credit file and I am now wondering if my IP will see it and I will be in bother?? Can they access my credit file say during a PPI check?
 
 

Foggy

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Post by Foggy » Mon Aug 25, 2014 3:45 pm
If you have authorised such a check ( which is possible given everything we sign up to during an IVA )they could see -- but I doubt they would be looking.

That apart, yes, it was a bad idea, but the search will disappear in a year.

Your credit file will not improve in any meaningful way until the IVA drops off the file.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Bob and Gill

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Post by Bob and Gill » Mon Aug 25, 2014 3:49 pm
Thanks, it was a moment of madness. I think I will sign up to Experian or one of the other services to keep an eye on the credit status in future.

Am I right in thinking that borrowing up to £500 is allowed but any more needs IP permission?
 
 

Mark_H2

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Post by Mark_H2 » Mon Aug 25, 2014 3:53 pm
The £500 was the amount quoted in my documentation.
 
 

Foggy

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Post by Foggy » Mon Aug 25, 2014 4:21 pm
Depends upon the wording of your own arrangement -- some allow up to £500 with IP's consent. However, this is often included to cover such things as utilities etc.

I wouldn't throw money away by subscribing to any of these services -- the credit score is smoke and mirrors and means nothing at all.

If you are dead set on torturing yourself, you can get a report from any of the agencies for £2 a pop.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Bob and Gill

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Post by Bob and Gill » Mon Aug 25, 2014 4:57 pm
OK, thanks for the replies
 
 

Shining

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Post by Shining » Tue Aug 26, 2014 2:14 pm
I personally paid the £2.00 for a paper copy and never signed up, I also use Noddle which is free for life so that might be a good starting place for you. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

TzeKin

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Post by TzeKin » Tue Aug 26, 2014 4:41 pm
dear me....testing your credit rating in an iva isn't best served with a loan application.The Ips allowance for 500 pounds of borrowing in an iva should not be taken literally....that you can get acceptance.That clause is mitigated by creditors which wouldn't lend these days under responsible lending practices. Even Wonger wouldn't lend.Ips should no longer put that borrowing limit clause in.It has no value.

As advised, credit files from Noddle are free of charge,inspect their rating on you and any default entry on your file is what you need to do before any loan applications.

From experience and as a recommendation,I would not apply for any credit till 3 months after the defaults are all cleared.
Time does help to improve your chances of New credits.The longer you wait the better.

The time will come when you need to get the #borrowing habit' back but you jumped the gun here....slow down.
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