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Posted: Wed Dec 16, 2009 11:39 am
by michael.b
hi.
i am in an iva currently and just wondered when my iva is complete my credit rating is wiped and start from fresh? what about any debt that was not added to the iva like a mobile contract that i owed money etc would that get wiped to?
Posted: Wed Dec 16, 2009 11:45 am
by rayb
Hi Michael,
Once the IVA is completed (5 years) then at the end of the 6th year your credit history should be refreshed.
However with regards to your mobile phone debt if it is not included in the IVA then you will still be liable as I am sure they would be chasing you for the money. I would contact your IP and see about getting it included asap
Posted: Wed Dec 16, 2009 11:48 am
by kallis3
Hi Michael, and welcome to the forum.
Your IVA will remain on your record for six years from the date of acceptance and will then drop off. You may find that some creditors have continued to default, even after the IVA has been accepted. You will need to write to them once the IVA has been completed and tell them to remove them.
Anything such as a mobile contract will remain on there, and you need these sort of things on there to rebuild your credit record as long as the contract is current and up to date.