www.iva.co.uk

Hi all,

It has now been 6 years since my IVA was started. It has now dropped off my credit file although a couple of companies still have my defaults even though it has been over 6 years which is annoying.

Any way I am now looking at a new car and will obviously need to get credit.

Do finance companies now about the IVA even though it has dropped of my credit file.

Will it be easy to gain car finance as my my credit file looks a little empty.

Hi,

Finance companies would not know about the IVA as all defaults should drop off after 6 years. If you have a mobile phone contract, catalogue that can help with your credit history

Hi there Polar, I would write to the credit reference agencies with a copy of your completion certificate and get those defaults off your file. Building up your credit rating again with certain things will help your score too, mobile contract etc., as Ray stated. You can get those defaults removed though so I would definitely do that x

I agree with Lesley - write to the creditors as they should remove any defaults after the IVA was approved.

As to car finance, you can always look at Duncton. The APR is quite high, but they are very sympathetic with post IVA clients.

Original defaults don't get removed if you have an IVA. The defaults will stay and will be shown as satisfied once the iva is complete.

All my defaults are shown as satisfied but now need to be removed after the 6 year mark.

Duncton have an APR that is to high.

The creditors are not allowed to add defaults after the date the IVA was approved, so these have to be removed

Duncton is high, but they will do finance for those people whose credit record is less than perfect, several of our posters have used them and sometimes it is needs must.