Our Iva started December 2017. We took a payment break due to maternity leave so our last payment is September 2023. When will it be off my credit file, September 2024 or December 2024. I’m trying to work out what I can do about a future mortgage, if it at all possible? Thanks in advance
Once you have received your completion letter it will disappear provided the six year anniversary of the start of your IVA has passed, so should be in March 2024 by my reckoning.
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
IVA started December 2017 -- so 6th anniversary will be December 2023.
Final payment September 2023. Completion certificate will take, say, three months, then up to three months for your entry on the Insolvency Register to be removed. After that a month or two for credit reference agencies to catch up. So, all things being equal, your files will show clear around March 2024.
Is there any links to anywhere that can give advice on when I can apply for a mortgage or am I best waiting until April 2024? Hoping for 10%
I would suggest a chat with a broker who specialises in helping those with adverse credit in the past. We have two who post here - Ryan and Shaun. Their details can be found in their profiles here :
It is possible to get a mortgage with a completed IVA showing on file, but they like a high deposit and will charge higher rates. You also have fewer lenders from which to choose. Once the IVA clears from your credit files you will have more lenders, offering better rates. A chat with Ryan or Shaun can give you an idea of what spade work to put in, in advance, to improve your chances.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I would highly recommend Ryan from The Mortgage Expert.
Ryan has helped us out over the last 12 years with our initial mortgage when our iva ended, and subsequent mortgages to support change in circumstances during the years.
We are incredibly grateful that you took the time to leave your query here. Prior to giving you the relevant and applicable advise, we would require more information regarding the circumstances of your payment break.
Many thanks,
The Debt Movement Team.
Moderator edit: Link removed from post. Please do not share personal information unless your IVA is being conducted by Debt Movement
Hi, Anxiousallthetime, please do not send personal details unless you are, in fact, a client of Debt Movement UK as I have noted that you have not said that you are anywhere in your post.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I would not be giving details, as Foggy says, if you are nothing to do with them.
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
If you are looking at a Right to Buy Mortgage and your IVA has completed, but your score is low because the arrangement is still showing on your credit files, I gather that Ryan (see posts above) now has access to a willing lender.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
