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CarlM1975
- Posts: 6
- Joined: Wed Feb 16, 2011 2:16 pm
- Location:
Hi guys, currently in my 2nd year of an iva lasting 6 years. Was just wondering if anyone had successfully completed their iva term and got credit afterwards, ie credit card mortgage etc???
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ginger3232
- Posts: 2610
- Joined: Tue Jan 11, 2011 4:06 pm
- Location: United Kingdom
Hi Carl
Yes all of them - it takes time to build up your credit rating - unfortunately there is NO easy way.
When your IVA is finished you can do this by paying your bills on time, mobile phone contract and some people have a small limit on a credit card (pay it off monthly as it about 39% APR)also when the time comes making sure you credit file is in order. And of course your o the electrol roll
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TheMatrix
- Posts: 2171
- Joined: Sat Mar 17, 2007 8:32 pm
- Location: United Kingdom
I think you'd be wise to clear up your credit file, wait till the defaults drop off along with the iva then apply to your bank for a normal rate credit card. Still pay it off every month though run that in order for a few years whilst building up a nice deposit to put down on a home and build up some positive credit history whilst the bad stuff drops off.
That's what I'm going to be doing.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
