The thing that is confusing I bet that 99% of us who had to join the IVA scheme was because we could not control our credit card usage like me then get loans to pay off cards then still use the cards ...
Then after completing your IVA the way anyone is advised to better their credit rating is by getting a credit card ... wow
I know it sounds perverse -- but I would say that 99% of us, having been through an IVA, come out rehabilitated and able (maybe through fear of the reality) to handle credit --- we are reconnected with real, cash, money, rather than magic plastic. The lenders want to see this demonstrated -- but it is down to us to remain strong.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
As long as you use a card sensibly it can help - use it for fuel for example, and pay it off immediately. As long as your bank and/or mobile phone accounts are ok it will all help.
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
One thing an IVA teaches you is how to budget and how to manage money. I have a Credit card, with a very healthy limit, but I have never used it because I couldn't afford what I was placing on it. I know I have to pay it off at each payment date and do so with rigid reinforcement that I have no intention of going through life hating the postman for bringing me bills and red letters.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
It is much more unlikely for someone who has been in an IVA to propose another one than for someone to do so first time around. People learn from their mistakes and are actually a better risk going forward than someone who has never been in an IVA.
