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Posted: Sat Sep 05, 2009 4:31 pm
by polar
HI all,
How long after completing my IVA will I be able to apply for normal car finance.
My 6 year mark is Dec this year
Posted: Sat Sep 05, 2009 4:55 pm
by kallis3
Hi,
You could try Duncton Car Finance but it does have a high APR. Otherwise, as long as any defaults registered after your IVA have been removed, then once the 6 years is up you should be able to go anywhere.
Posted: Sun Sep 06, 2009 10:14 am
by Julie
Hi - check your credit report first to make sure its been updated. When it's clear then you should be apply anywhere for car finance.
Posted: Sun Sep 06, 2009 11:34 am
by plasticdaft
Remember that being accepted for finacne doesnt just mean having nothing bad on a crf. If theres nothing good on there either you wont get accepted. Being on the electoral roll helps a lot,as does having a contract mobile which is paid regularly. One of the stupidly high rate credit cards(vanquish etc) can be handy to buld a picture of payment on your file. Use it once a month for say fuel top up,then pay it off right away so no interest is added and it will soon show something positive on your file.
The idea that as soon as 6 years is up after an IVA is finished will mean easy access to credit is just not very likely.
Make sure you get copies of all CRF's(3 agencies) and see what they say before spoiling your reports with failed attempts to gain credit.
Paul
Posted: Wed Sep 09, 2009 8:26 pm
by polar
All companies have updated my credit file except Egg, who are being a real pain the bum...
I have emailed them, phoned them so has my IP.....what else can I do...
Posted: Thu Sep 10, 2009 4:59 pm
by polar
What are the 3 companies for Credit References
Posted: Thu Sep 10, 2009 6:07 pm
by TheMatrix
Keep a record of all contact, if they don't play ball then contact the information commissioner who can make them remove them
Posted: Thu Sep 10, 2009 6:10 pm
by Max
Polar - have a look at Skippy's blog - she has put some draft letters on it which can be adapted for IVA - they are good letters and should do the trick with Egg. J
Posted: Thu Sep 10, 2009 6:12 pm
by TheMatrix
Further advise - relates to going BR but should also relate to IVA's
http://www.ico.gov.uk/upload/documents/ ... -_faqs.pdf
Posted: Thu Sep 10, 2009 8:46 pm
by Skippy
Polar, the 3 main credit reference agencies are Equifax, Experian and Call Credit. The contact details for these companies are in my blog.
Posted: Sun Sep 13, 2009 3:07 pm
by polar
I have just got Egg to update finally all my credit files. My Equifax flagged an Alert. One of my Egg accounts had a partial flag raised
What does this mean
Posted: Sun Sep 13, 2009 3:10 pm
by polar
Just to add. I had an account caution Flag raised. quote "One of your accounts has recently had a caution flag added, amended or deleted. The addition of this flag is an indication to the lender that a new risk is present"
Another descrition of the flag "A caution flag indicates to the Lender that whilst the account may be current, there is now a risk present that may impact future repayment. An example is that the flag may indicate that the account holder is deceased."
Does this just mean account has been satisfied but by a partial settlement....