www.iva.co.uk

I completed my iva with a full and final settlement. And received my completion certificate Novemeber 2010.

I am now trying to rebuild my credit rating.

I was going to apply by post to the three credit reference agencies to obtain my credit file. In ordert to check that the defaults have been removed.

I am also about to try and apply for a vanquis credit card in order to improve my credit rating. But i am unsure if i am wasting my time doing this and if turned down due to previouse iva. It may effect my credit rating again.

Any help and advice as to the best way to procced and to go in this matter would very much appreaciated.

As after finally getting out of debt i want to do the correct thing to rebuild my credit profile with out making any glaring mistakes trying.

Hi Dave,

You are doing exactly the right thing with the agencies and you can try applying for a Vanquis card. Some people are successful, some not.

There are lots of ways to rebuild your credit history: running your bank account in satisfactory order; Sky and utility bills; repaying secured loans; mortgage; having your rent put on your credit report; contract mobile phone etc... It just takes time. Congrats on completing...you may need to wait until 6 years from iva acceptance to get a credit card but good luck and let us know how you get on.

Hi
You will find it easier once your IVA is off your credit record, six years from when it started
Regards

I joined up to credit expert and paid £4.99 to get my credit score. To my amazement it the highest its ever been!! Even though I am just over 1.5 years into my IVA. Strange.
But like Andy said, wait until the IVA has dropped off your file before applying for any credit.

You probably won't be able to get much anyway! When my credit rating was perfect I couldn't get a full bank account with Nationwide, even though there was nothing wrong (I even phoned Experian to check) and I managed to get a full account with Barclays. I wouldn't take too much notice of your credit score, and I certainly wouldn't pay for it during my IVA.

A contract mobile phone would build it up wouldn't it? Think thats the only thing I have any where near credit.

It would build it up, as would your bank account, mortgage. As I said, not worth bothering with until after your IVA drops off the record and even with a perfect score you are not guaranteed acceptance with anything.

That would explain why my score has improved then.
I'm the same, nothing until the IVA drops off and even after then, mortgage only for me!

Not a clue what mine is, and won't be checking until after I've finished. My mortgage should be finished shortly afterwards so hopefully no credit at all for me!

I just decided to check it as I was receiving a lot of credit card offers through the post. Which I've never had before.

I've not had any at all. Get loads via email though.

Jan, with no iva and no mortgage you'll be living like a millionaire!

Doubt it! It's all spam emails that I get and I wouldn't touch any of them with a ten foot barge pole - even if I was solvent!

I would check your credit file, make sure all the dates are correct and that all your past accounts are shown with zero balance due on all defaults and the IVA marked as satisified if you really must apply for a vanquis card.