Credit rating

[DerbySaint]

Hi all,

Fortunately my IVA F&F offer was accepted in November last year, however I'm still waiting for my completion certificate due to ongoing PPI issues.

My partner and I have just attempted to rent a property through a letting agency but unfortunately my application was declined due to my credit score (we still managed to get the house thanks to a guarantor). I was prepared for it to fail but I thought I'd chance it as my IVA company provided me with a letter confirming that IVA was completed except for the PPI.

I am just wondering when my credit score 'goes back to zero'? I've checked the insolvency register and the date my IVA started was 14/07/08. Is it six years from that date?

If my completion certificate turns up soon (as I'm led to believe it will), can I then contact the credit agencies to inform them that I have completed my IVA and start to rebuild my credit?

Speaking of which, does anyone know the best way to build up your credit score again? I don't want to ever use credit cards again so I'm just wondering what other ways its possible to do so.

Sorry if all the above is a bit mish-mashed and for the twenty questions! Any help would be much appreciated.

Thanks,

Paul.

[Little miss trouble]

Hi, I hope one of the experts replies to this as I am in exactly the same position. Even too scared to look at my credit file, until the certificate arrives I feel in limbo.

[Shining]

Hi Paul, pleased you go the house with the help of a guarantor.

IVA should drop off your credit file 6 years from date of the meeting. Your credit score will increase with time after this date. You can have a pay monthly mobile phone, some bank accounts report to the credit reference agencies and some posters myself included have a Vanquis card (or similar) and use it once a month and pay it off in full. It all adds up. After the 6 year mark it should tidy itself up nicely but you will need to check that the default dates etc., are correct.

[Shining]

Once certificate is received even if it's before the 6 year mark you should be removed from the Insolvency register so worth having a look once it's in your possession.

[Little miss trouble]

Thanks Lesley, hopefully the postman will call this week!