www.iva.co.uk

Hello all
Well, after 7 long years, i have only one payment left remaining on my IVA!! Its been a long arduous journey, but there is now a light at the end of the tunnel.
Unfortunately, this victory has been rather soured by the fact that my company car is being taken off me in 5 weeks. (job needs car - not doing enough business mileage now).
I have leased a few cars prior to the IVA, and find it a good way of running a nice car without having to worry about breakdowns and maintenance etc.
My question is, can anyone recommend a leasing company who will possibly accept me following receipt of the completion certificate. The IVA is still showing on my credit report. I will probably have to hire a car in the meantime (no credit checks there) but this proves costly. There are a lot of leasing companies on the internet promoting bad credit leases, but it's difficult to work out who to trust.

Many thanks for your help in advance.

Richard

Hi,

You could try moneybarn.

Well done on getting to the end!!

Bear in mind that some IVA firms take up to 6 months to send your CC with up to a further 3 months before you come off the register so you may find you have to wait 10 more months before your credit rating is cleared.

Keep the pressure on your IP to close quickly.

Best of luck.

I've had a look at moneybarn and red potato. They're interest rates are astronomical, which results in paying double the value of the vehicle over 5 years. Hiring / renting in the short term does seem to be the best bet. Moneybarn doesn't get great reviews on Google either to be honest.

Hi
We where in same situation as yourself ( well 2 payments left on Iva) our car became terminal and we needed finance for a new one. Moneybarn was the only lender that would touch anyone in Iva so yes interest rates are very high but no other option!!

6 months on and now out of Iva and cc issued with a clear credit file we have replaced our moneybarn loan with a much cheaper 5.9% personal loan reduced monthly repayment and wiped 2 years of loan length so in short term moneybarn helped us when no one else would even consider us!