Starting recovery process. How long does it take to receive CC ? Having problems leasing a car

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Sylvie.s

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Post by Sylvie.s » Thu Apr 23, 2015 12:59 pm
We have just completed successfully our iva , the last payement is scheduled next week then we can start the recovery process ! Reading your post I understand now what must be done to help us improve our credit rate and put this all behind us !
Does it show on your credit report that you had an Iva for the next six years after your last payment ?
Our long does it take to get certificate of completion?
And lastly we were hoping that our old car would hold on until our credit rate improve to get a new one , it didn't ! So we are whithout a car which we need for work etc .. Looked into leasing , but it seems that no one is willing to do it because of our credit history . Does anyone have any tips or ideas as to what to do ? (We need car for work and also school as my two kids attend different place )
Many thanks for taking time to read and reply !
Sylvie
 
 

Lisa Thomas

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Post by Lisa Thomas » Thu Apr 23, 2015 1:20 pm
Hi Sylvie - As I understand it, the IVA shows on your credit rating 6 years from when your IVA started. Your Completion certificate timescales will depend on your IP firm and how quickly they act. They will need to pay the final dividend to creditors and call the final meeting/send their final report before they can send you the CC. Some firms are quicker than others but it could take a few months I'm afriad. I can't answer about the car but have seen other posts regarding car lease companies on here so if no -one else responds to this query do a search on the forum.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Foggy

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Post by Foggy » Thu Apr 23, 2015 2:09 pm
Hi Sylvie. Lisa is correct about the IVA remaining on your credit files for 6 years from the start. There is some useful information here:

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

As for the car, many have used Moneybarn. The rates are high and I believe the minimum is £5000.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Thu Apr 23, 2015 2:32 pm
Hi Sylvie

I found these posts for you on the forum that you moght find useful:

http://www.iva.co.uk/forum/topic.asp?TO ... eybarn,car

http://www.iva.co.uk/forum/topic.asp?TO ... eybarn,car
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

urbanfox

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Post by urbanfox » Thu Apr 23, 2015 4:32 pm
Hi, i managed to successfully lease a car whilst the IVA remains on my credit file - i was in the same situation as you that my old car was just not going to last. There are a number of non-status lease companies who will base their decision to lease to you on your future ability to maintain the lease payments rather than your past mistakes so some don't do a credit check but will ask for bank statements and pay slips. They do lease for shorter terms and at higher rates but for me it was still more financially viable than a high interest loan. Anycaronline was the company i used and had no problems with them.
Good luck
IVA started Jan 2012
Last payment made June 2014 @100p
Completion certificate received Sept 2014
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