end of iva

[tonyranks]

ok a few questions
1) when the six year is up, why do mortgage companies ask if you have been in an iva....even when the defaults drop off by the six year, they cannot see it through a search can they???
2)i am confused...someone straighten me out please
if the ip sends a cc to creditors and iva register, why are we doing the work also, i read the iva register people send to the CRA also, why we doing double work,just asking?
3) shouldn't people be more concerned with 6 years as opposed to 5 years because iva is still on CRA
why try for credit after 5 years even when marked satisfied, then all creditors will know about your iva because you have searched in year 5, even in year 6

[MelanieGiles]

Some answers for you:-

1 It is their prerogative to ask for what background information they require. I can only assume they ask for these details to take a measured view of their risk.

2 Perhaps because creditors are not so clever at updating the registers and it is better to belt and braces the process.

3 Not sure what point you are making here Tony. Please clarify.

[tonyranks]

sorry melanie, doing a credit search after 5 years will show a satified iva, will this not show up to lenders on the sixth year to the same lender, even after the defaults drop off....
meaning by searching after the 5th year, the credit company who you searched with would have seen an iva even when it drops off in the sixth year, i hope that is much clearer.

[tonyranks]

sorry melanie, doing a credit search after 5 years will show a satified iva, will this not show up to lenders on the sixth year to the same lender, even after the defaults drop off....
meaning by searching after the 5th year, the credit company who you searched with would have seen an iva even when it drops off in the sixth year, i hope that is much clearer.