www.iva.co.uk

Well done -- it IS a tough ride and not the easy ride many think it is !!!

Have a read here about clearing credit files : https://www.iva.co.uk/what-does-an-iva- ... dit-record

Well done and feel free to ramble away xx

Johnno wrote:

I was living with my ex partner for 6 years and being young and dumb i thought i was in love and would do anything for her, she worked mainly with horses so only ever made a little cash in hand and never really wanted much. After about a year of being together we decided to get a place (renting) but with her not having any credit history or savings i forked out the deposit for the house and then setup all the bills in my name (see where this is going). Anyway 5 years down the line and not much had changed, she was still working with horses but now i had racked up Credit Card bills and a loan for the car she is still driving today and the HPI on my old vehicle.

Year 6 came along and i found out she was doing the dirty with someone from the yard, this brought the intimidate end to our relationship and i moved out. I ended the tenancy agreement early and sofa surfed for a while as i couldn't afford to rent anywhere and i don't have any family i could have relied on.

Talk about a crash down to earth with a bang! Anyway..

I had no choice but to sign up to a 5 year IVA for the 11k debt i had accumulated during our six years together as i just couldn't pay it all back and have the money to rent a place and live in general, so at the time i went to a company called Debt Support Center. They where brilliant, they listened to my story and then did everything they could to help me. I had the IVA setup and working in no time at all and it felt amazing.

However still being young what i didn't release was the impact of being tied into a IVA, if i could go back now I would not have gone down this same path. it's been a very very tough 5 years, trying to live to budget set by DSC wasn't easy, I met a lady, had a child and not had much luck with work however in 5 years I've never missed a payment and am pleased to say that in January 2019 I will be making the final payment to my IVA

I've just spoken to Ceditfix who i believe brought out DSC at some point in the last 5 years and they advised me all i need to do is cancel my standing order after my payment in January and sit back and wait for a certificate of completion to land on my door step. I know i will need to send copies of the certificate to the credit reference agency's and the IVA will stay on my file for another 12 months but its the fact I did it..... 5 years! 60 payments!

My next job will be learning about how i fix my credit rating as I know this would have been damaged due to my past.

Sorry for rambling everyone but it's been a tough 5 years and if I'm honest this will be the first thing I've ever seen out to the end and I'm proud of myself.

loa

Hi buddy. My IVA lasted for 75 months and I really do know how hard things can get.Once you've paid the last payment it's a waiting game for your CC.Mine took 5 month's, but you'll be on the insolvency register for a full 6 years. The upside is you'll have no debt and what a great feeling once it's finally all over.This time next year you'll be in touching distance. ..stay strong. .

Hi Stanley --- just to be clear -- you are on the Insolvency Register for three months after they are informed by the issue of the certificate of completion. The IVA stays on credit reference agency files for the 6 years from the start date of the arrangement, assuming it has been completed within that time frame.

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/