Scottish IVA paid in full two years ago. When will credit rating improve enough to get a loan ?

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Sue.n

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Post by Sue.n » Wed Dec 17, 2014 12:33 pm
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My Scottish IVA was paid in full two years ago but my credit rating is still so bad that I cannot get a loan, buy a vehicle on a finance deal or get a mortgage. Why is this and how long will it be before I can?
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Michael Peoples

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Post by Michael Peoples » Wed Dec 17, 2014 12:56 pm
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Trust Deeds usually run for three years and your credit file will be damaged for six. You probably have another year to wait but check the dates of the defaults on your credit file.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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Foggy

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Post by Foggy » Wed Dec 17, 2014 1:27 pm
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The 6 years that an arrangement shows on the credit files is independent upon the length of that arrangement, assuming it closes within the 6 years. I am afraid the files will be, as Michael says, damaged for a further year.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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plasticdaft

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Post by plasticdaft » Thu Dec 18, 2014 8:36 am
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When did the trust deed start?

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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