life after iva - Experian score now 980 !

[12 months to go]

Hopefully an update to ensure forum members still mid journey , realise there is light at the end of the tunnel

after some delay , the final CRA to remove my IVA record Experian, has seen my credit score with them rocket to the dizzy heights of 980. i think the max possible is 1000 ( if ive read the chart on their site correctly )

Furthermore ( not connected with the above ) my tax code has changed for the new financial year. ive apparently been paying too much tax for the last few years and this will see me take home just over £100 a month more, which im extatic about, particularly as the company i work for is likley to lose its largest customer this year and so neither myself or my colleagues expect even a cost of living rise this year.

think i might do an extra line on the euromillions tonight !! watch me get sacked now after 2 lots of good news in the same day !

Stick with it everyone, at times you do wonder if you will come out the other end, i know I felt like this at times. Strange thing is , no matter how good my credit score is im afraid to apply for a credit card, so maybe my lesson is well & truly learned, even though it took me 29 years to learn ( im 47 in case the last line seems cryptic )

[Shining]

I also believe there is life after an IVA and plan to tidy up my files soon.

Credit cards can be a funny thing post IVA but I do want one just for buying my fuel and then paying off in full as it helps with that credit scored. I've got my mobile phone and mortgage so hopefully I'll be like you soon and up there with a good score.

All the best. x

[GilliB]

Hippee 12 months to go!! Good luck comes in 3's... You'll be back on tomorrow to say much you won on the Euromillions!! x

[Searla]

I can't believe that I've stumbled across this thread.

This is really strange.... my IVA completed May 2011 and to be honest, I've just forgot all about the horrible thing

Anyways, just this morning I thought I'd sign up to Credit Expert and have a look - and to my total astonishment my score is 974.

What a feeling eh, "12 months to go" - I think the whole thing is now totally behind me - yahoooo!!!!!

Just one quick question.... how does this effect real world credit?

Does having a good Experian rating extend to having a good credit rating in reality? Would I be able to get a new bank account with a debit card etc? Credit Card (not that I want one mind, but it would be handy for hiring cars when on holiday etc).

Anyways, for everyone still waiting to complete, as the OP said, there is light at the end of the tunnel!!!

[Kelly O]

Its great to see such positive posts on life after an IVA, i am sure it will be welcome reading for those currently in an IVAs.

Congratulations all and good luck for the future

[Tina Shortland]

What a pleasure it is to read your post '12months to go'. Good luck on the Euromillions and lets hope your job remains very secure too!!

Best wishes

[plasticdaft]

My rating on annual credit report went down this time??

Boo hiss.

Paul

[plasticdaft]

Meant to add that my trust deed is still on there til may 2014 anyway so no panic.

Paul

[Til]

These sort of posts cheer me up no end. Whilst I have well & truly leanred my lesson, I feel as though getting my credit score back to how good it was before this mess will be my final act of closure and in a way I will see that as the last hurdle to finally be free from the mistakes we made.

I too will get a credit card just for fuel (which will be paid off each month) and for those household emergencies (like we've had this week with the boiler). Other than that credit will only ever be needed for possibly a car or mortgage and then only on strictest terms.

I am so happy to hear about your score 12 Months To Go and it has certainly made me feel more positive congratulations x

[sponge]

My thought is to avoid trying to obatin any credit whilst in an IVA bar insurance phone etc. I going to suggest that trying to obtain high apr credit/sub prime mortgage may affect your credit rating in the long term, if you like it lets other lenders know your a risk after the IVA. Eeven having the wrong post code can effect a decision for a credit card.

There's appears to be a myth whilst in an IVA to try and repair your credit rating, it simply can't be done, but on the flip side having run the course of an IVA the full six years, your credit rating reapirs itself.

well done 12 months to go - just pipped up on two points 982! on the axe of six years (last september) which is weird as that makes ex IVA's a sort of fiscal paradox

[Gareth.hs]

Nice post 12 months to go, very considerate of you to give others an idea of what successful completion of an IVA looks like. I for one didn't realise that a credit score could be repaired that quickly.
Thanks.

[sponge]

searla
No one other than you sees you crediting rating. That said you only get that sort of credit rating if you have many green ticks on say your current account(one for every month you stay in credit)and just a few searches. lenders all have there own criteria and that includes your post code!!

[luluj]

Life after iva does exist ...i look forward to September 2013 to see my credit file really improve ....i have done everything i can to improve it so fingers crossed !!

[12 months to go]

i didnt really expect to see so many replies so many thanks

Im actually scared to take out any credit. my nickname with friends used to be sense & sensibility such is my level headedness and so whilst im sure ive learned a lesson, it does honestly surprise me i got into such a financial mess in the first place all those years ago. Im worried that even the slightest bit of credit now could see me on the slippery sloap again, so whilst pleased with my credit score, I dont think I will be applying for a credit card just yet. I wouldnt have an issue with eg a car loan etc, but i think it would be so easy to use a credit card for household bills and general living and I do noy want to change my profile name to " IVA No 2 " !!

[12 months to go]

ive gone even dizzier now

I had an alert from experian telling me my credit score had changed.... it now stands at 992 !!!!

wonder if it will move to 1000 next month ?

just a pity its just a number now, as i have no intention of trying to take advantage of it