www.iva.co.uk

Hi,
I recently completed by IVA by a F&F but have not yet received my certificate of completion. I am now due to move house in the next couple of weeks but have to purchase items such as carpets, washing machine and cooker. Obviously I dont have this kind of money to hand and just wondered if i am allowed to apply for a loan or do I have to wait for my certificate of completion. If I am allowed to apply for a loan does anybody know who will give me one.

Hello Julie,

Until you have received your completion letter then you won't be able to appy for a loan.

No idea where you would get one from though.

Have you thought about using something like Freecycle to get some of the things you need?

Hadn't thought of that I will look into it thanks

It couldn't hurt to see if your IP will allow you to take out a loan. Don't ask , don't get x

It's also a case of finding someone who will give you a loan - the IVA will still be on the record and there may be defaults still recorded as well so might not be an option unless it is at extortionate interest rates.

You are unlikely to be accepted if the IVA is showing on your credit file. If it's satisfied you might be able to go to a sub prime lender but your rates will be very high and no guarantees of acceptance.

An IVA will remain on your credit file for 6 years from when it started so based on your dates wont drop off until 8th February 2018. This is also not taking into account any defaults too.

I thought it dropped off your file 6 years from the iva start date, not 6 years after F+F accepted, or have i read that wrong? Feb 2018 is 6 years after F+F was accepted.

It is six years from the start of the IVA.

I had assumed from the OP's signature that this was a F&F IVA so the start date being the 7th February 2012

It is 6 years from when the IVA started.

Phew, that's a relief, i thought i was going to have to wait another 6 years for it to drop off my file. Congrats on completing iva Julie68, all the best for the future.