Hi all. I completed my 6 year IVA in March 2016. My Completion certificate has just arrived today. My question is...... What next????
When do i contact experian to update my credit file?
Once its updated, when do i start building my credit file again?
My IVA was a 6 year term one so apparently it should clear 6 years after the start so in my case it should clear with immediate effect once everything updated?
Your file should start to clear up very soon, provided the defaults are dated correctly. It will take up to 3 months to come off the Insolvency Register.
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
Congrats Andy, just kick back and suck up that feeling of satisfaction. Things will take a few months to sort them selves out. As much as you want it to happen, nothing will happen on the 6 year anniversary overnight. Someone somewhere will not tell the elbow what the arse should do and vice versa. Big "up" for finishing your IVA and best wishes for your future.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
Congratulations. As the others suggest wait for your name to drop off the register then start to tidy up your credit files. Best of luck for a debt free future!
Hi All
Quick update for you.... I could'nt resist temptation any longer, the suspense was killing me. Lol
I've done the free credit report with Call Credit ( Noddle ), I've also paid the £2 one off report with Equifax and Experian, ( didnt wanna sign up to the free trial and have to mess about trying to cancel ) Noddle gave me a score of 612 what ever that means? and says its a good score if i want to apply for credit. Equifax is showing that IVA and all creditors have dropped off my file except for a Yorkshire bank loan that is for some reason still showing? It was definatly included into my IVA but on my file it shows 6+ missed payments until July 2011, Then August 2011 its saying Settled? I entered into the IVA March 2010 so not sure why showing this. I've contacted Yorkshire bank and they are on the case and apologised for the inconvenience caused. Thats the only negative thing on my file.
I applied for an Aqua credit card which was meant for rebuilding credit which was suprisingly turned down. So i went on money saving expert to see which card i would be eligable for with my situation and without doing lots of credit applications. Luma card came at top of list so i applied and was accepted. YAY. Dont wanna use it for silly purchases but just little and often and repaying in full each time to rebuild my credit score.
Im just really enjoying a debt free life at the minute in a job that i earn 43k and i have zero debts. Definatly made the right choice when i entered the IVA
That's great news Andy - really pleased that things are looking up for you.
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
Something that was pointed out to me a while ago re. adverse credit / credit builder cards is that they often have "quotas" and acceptance is based more on whether the relevant quota has been filled than on your credit file ( which they know is going to stink anyway!).
I am afraid it is down to the "luck of the draw" !!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
