I completed and satisfied an IVA in August 2009 but it is my experience that most companies (mobile phone, Lloyds TSB etc.) see no difference in an IVA to a Bankruptcy! I've been refused o2 contract (you've been bankrupt we can't do anything about it - no I haven't I explained, they couldn't care less) and Lloyds TSB completely refuse to upgrade my (PERFECT) current account because 'I am a former bankrupt!!) - no I'm not - makes no difference that's what the computer says. No it does not - I've checked all my cra's and they are 100% accurate - I'm beginning to wonder whether I should've just gone bust!
Some companies will see it as the same, others won't. I think you have been unlucky as a lot of posters on here have been able to take out new mobile contracts and upgrade bank accounts.
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
Adam - the biggest mistake people make following an IVA - is the assumption that they will obtain any bank account/credit cards or credit accounts. The last 6 years has wiped all you credit history from file - so you need to start to rebuild it - and there is not any quick fix - this takes time. If these companies have listed you as Bankruptcy/IVA even if complete - this will remain on their files - you would be better seeking accounts elsewhere.
Play hardball with Lloydstsb,and check if you could get an upgraded account elsewhere and go tell TSB to shove it. Have you complained in writing to them after a refusal because they can change their minds often if an actual person looks at what you are asking.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
You can complain if they have incorrectly shown you as bankrupt and not completed IVA as they are two different things and personally if after working really hard for 5 1/2 years in order to pay off as much to my creditors as possible they then basically spitefully ruin my chances of any mortgage prospects in the future then I would 100% wish I could turn back the clock, go bankrupt, leave my job and live off benefits paying them nothing and feel no guilt whatsoever. I chose the IVA route to stop my future financial security being so bleak and if that's not the case then I have chosen the wrong path.
It is about time creditors did start seeing the difference between an IVA and a bankruptcy - because the enjoy the vastly higher returns available to the in IVAs over bankruptcy where dividends from consumer debt cases are actually pretty rare.
Here here mel (politics reference from another thread!) I think creditors don't care about the difference in terms of your future file or history with them. They see it as they have lost money from an individual so don't want to be associated again with them. Of course they care about getting something in terms of pennies but that's all!!
The road is 72months long starting September 2010.
I agree with all of your comments. I certainly feel as though the punishment does not fit the crime, and I have definitely been made to feel like a criminal. I too often wonder what was the point of paying off as much as I can when I am treated as though I just abandoned all responsibility for the debt. I only hope I can get through the next 3.5 years.......
I know exactly where you're coming from Pauper, one thing I would say is that despite horror stories we also have had posters come forward to state they have sucessfully obtained a mortgage post IVA or credit facilities to help build their score etc. Some peoples banks are quite good especially if you never owed them anything. Personally I would have thought your new bank would be very happy with how you have conducted yourself by not missing payments clearly for your debt over a 5-6 year term with no defaults etc. This history despite everyone wanting it to come off their credit file is actually an amazing confidence boost for the bank that you can be trusted to make regular fixed payments. Hopefully banks take this into consideration when dealing with us post IVA and not just mark our account with a black marker due to noticing we was in one.
Post IVA the common theme for credit rebuild or account facilities is to shop around and find people who don't take IVA into consideration for future mortgages etc plus ensure your credit file is completely clear of the defaults and up to date then start to rebuild your credit for a good year to two years before you look quite healthy again.
thanks DaveyBoi and of course you are right, just sometimes cant help but get frustrated with the unfairness of it all. i hate feeling like someone else has control of my life for the next 3.5 years......
oh well, surely time will now fly.... I can do it, I will do it, It will end.
