www.iva.co.uk

Hi my husband and i had our full and final offer accepted the beginning of june and received our completion certificate by email last week my question is what now? Whats the best way to start building up our credit rating do we have to wait a certain amount of time before we can start to do this?

Hi there, welcome and well done on f&f being accepted and your completion certificates being received. How far into the IVA were you when the F&F was accepted.

Here are a few links that may help with rebuilding credit:

http://pjgrecovery.com/clean-up-credit-rating.asp

http://debtcamel.co.uk/repair-credit-record-iva/

http://beatmydebt.com/individual-volunt ... -after-iva

Great news! Your IVA will remain on your credit record for six years from the original date of acceptance and it should drop off the Insolvency Record within three months of them receiving their copy of the completion letter.

Congratulations!

Keep the pressure on your IP to issue your cc quickly.

You might find this quick video I made about cleaning up your credit record useful:

https://www.youtube.com/watch?v=PV4RzUY4BRM

Noddle and Clearscore are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/

Hi and well done

having completed my IVA three years ago I decided to let statute be my guide

post that six year thing where all is cleared down under the auspice of statute

Your prospects of normal credit are quite high from day 1 (start of year 7) you'll see your credit score bounce high with no credit to speak of, there's been much debate about this.

To the crunch though and in my circumstance my business paid for my phone, food and everything else in between during my IVA. so I was the most credit virgin you can get post IVA.

I didn't bother with a vanquis card (mugs game) and it's sends out the wrong message to other lenders.

Post six years and not a trace of my IVA remains

6 - months car loan two years (now paid) 6% fixed
24 - months high st mortgage fixed 2.79% fixed 4 years
36 - 0% credit card

Some punters on here say declare your old IVA on a mortgage application - that's called mortgage envy so I wouldn't if I were you, you're protected by statute and it none of the lenders business.

If you like your credit rating repairs itself post IVA to the most extent.

Once your IVA is dead and buried leave it that way and never let it hold you back. Best of for the future

If you are asked if you have ever been in an IVA then you have to truthfully answer yes - as many posters have said, it can come back and bite you on the rear end.

Whilst Sponge is free to recount his own experiences, we cannot, as a forum, advise or condone fraudulent claims on credit or mortgage applications and we do not.

Totally agree with Foggy.

We were 4 years 4 months into our iva and have recentky had a baby with childcare and other baby expenses we asked for monies paid to be accepted at full and final and this was accepted we received our completion certificate last thursday thank you for your replies

You can clear up your credit record if some of your creditors are still showing default.

Click on the links that Lesley posted above to help you sort it out.

Congratulations on your baby.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by sponge




Some punters on here say declare your old IVA on a mortgage application - that's called mortgage envy so I wouldn't if I were you, you're protected by statute and it none of the lenders business.

This is called fraud and is their business. All questions should be answered honestly on financial applications - if you answer no and they find out you have lied this could have serious implications!

Firstly congratulations! It is great to hear that the IVA is now part of your credit history and you can focus on repairing your credit file and credit score. When applying for credit lenders tend to take into consideration your most recent history so what you do now matters. Begin by doing all of the usual things that build a healthy credit file including paying your bills on-time and think about your long-term financial health - create a budget which breaks down your income and expenditure. You may want to apply for small amounts of credit but be certain that you can manage these accounts responsibly. Becoming increasingly popular are credit building products that help to build your score with no risk of getting into additional debt - this might be a wiser option at this early stage in your credit building journey. The way they build your score is by reporting your pre-agreed monthly payment to one or more Credit Reference Agencies, they all offer something slightly different and I would definitely recommend doing some research to see which one suits your needs the best. It would also be good idea to monitor your credit file more closely, the main Credit Reference Agencies in the UK offer paid subscription services that give you constant access to your file and update your file regularly so you know exactly what is being reported and if there are any inconsistencies these can be addressed quickly.

You can do free credit checks - Credit Karma, Totally Money and Clearscore. I use all of them and they are great.