www.iva.co.uk

Hi my iva final payment was made 22 Nov 2018 to finish 22 Dec yay !!!, still waiting for completion certificate though, i have checked my credit rating on experian which is fair but has dropped to poor when one of the creditors made an alteration that affected my rating, i had 2 loans and an account, the loans have been removed but the account is still showing though i expect it will until i get my completion, my question is my car is 18 years old and needs replacing desperately am i likely to to get excepted for a car loan in my current situation and are there any recommended respected companies that i could approach, i am nervous that i get to many searches done and knock my rating even more.

It would be better to try to hang on until the credit records are clear --- but, if impossible, several forum members ( a while back now, though) used a firm called Moneybarn, who specialise in adverse credit.

Hang on in until completion certificate is issued and defaults drop off your credit file if you can.

I used Moneybarn for car finance, it was high interest rates but it gave the funds for a newer car. I recall there was a minimum loan amount of £5000, but that may have changed as it was done years ago.

Thanks Foggy and Luluj i will try and hang on, that will cheers the wife up, she hates what she calls the batmobile posting.php?mode=reply&f=145&t=86880#

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

https://youtu.be/PV4RzUY4BRM
Noddle, Clearscore and Totally Money are also free credit agencies to consider using:

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

Hi,

If you are desperate try a price comparison website. I've used Confused.com's car finance calculator: they do a soft-search based on the information you give them and it shouldn't have an impact on your credit file.

I haven't had my certificate of completion yet but I was getting conditionally accepted by at least two companies, I didn't pursue further because the APR was around 30%!

At the end of the day there will always be companies prepared to lend money to people whatever their circumstances, they will just offset the risk with a higher than average repayment.