Hi I finished my iva early -oct 2010 -however the Insolvency service did not inform the credit reference agencies until Jan 2011 ( original date when it was due to finish anyway).
Question is the iva will stay on my file until Jan 2012 but how can I start rebuilding my credit rating. I have a bank account which is always in credit, mobile phone contact paid by DD every month. I wondered the best thing to get to improve the credit rating. I have heard about Vanquis credit card (be careful there are some scams out there asking you to call 090 premium rate numbers) I fell for that.
I am really better off now -don't really need any credit but need to improve rating so I can get a mortgage at some stage in the future. All tips welcome - as I don't want to get refused and for a search to be on my credit file.
hey ian wtg on completion !!!!
well you have your phone bill which counts as a line of credit and if you pay this regularly on time etc thats already helping to strengthen your rating. i know a couple of the forum bods have had a vanquish c/card for the same purpose but be aware that the apr is sky high
hopefully kal or lesley or mel or one of the others ! lol will look in soon and comment congrats again hun x
If your IVA started in October 2005 then it will drop off 6 years from that date regardless of when the CRA was told it was completed. So long as they are told it is completed of cause.
Why not check at the 6 year anniversary, then when the files are clear apply to your own bank for a credit card.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Oops just re-read that, if it's not 6 years yet then I'd wait for that time and apply to the bank then for a card. Having a vanquis card may look bad when it comes to getting a mortgage with the bank as they may "assume" you've had bad credit in the past.
Just my thoughts on vanquis.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
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
Jacamo will accept you if you've cleared your IVA. I'm a big guy and was looking at them as they advertise they do large sizes. Not ordered anything from them though yet but they have given me £100 credit limit and they are reporting to the CRA
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
check out prepaid credit cards some offer the following or at least they did last year and load £60.00 on it they deduct £5 a month and at the end of the year they write to the credit agencies as loan completed, neat eh? I wonder what might happen to your credit rating if you had three of them running concurently and all completed at the same time
