After an IVA

[nm36]

Hi all,

I know many people use this forum to find out about IVA's pro's and cons and also actually going upto the stage of completion etc.

However one thing i think would be very useful is to start a topic for those that have completed their IVA's. Personally i would find it very useful to know things like, do we need to do anything about our credit ratings etc after the IVA. Do we know that the IVA now appears on our credit rating? What should it look like and how should our previous debts appear or not? Plus any other useful tips etc.

Also anyone who has finished and tried to get a new mortgage? how was it and what sort of rate did you manage do get after taking into consideration the IVA etc.

I completed my IVA over 18 months ago and for me it was the best thing i have ever done. We are about to finish our 2 year fixed mortgage deal in January 2008 so any info you may have plus experiences would be very useful.

Thanks

[hara]

What a good idea!

I would not be worried about credit rating unless it is for a mortgage,telephone(fixed line or contract mobile)electricity,etc, but not credit cards.You can always subscribe for a prepaid card.

hara

[Adam Davies]

Hi nm36
Your IVA will stay on your credit file for six years from the start of your IVA.
Mortgages during and after an IVA are easy to obtain and you are best to use a mortgage broker.
The rates in the sub prime mortgage market are extremely competitive and the further the IVA is behind you then the better the rate should be.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp