www.iva.co.uk

I completed my IVA through a F&F after approx 32 months (payment made in september and completion cert through in Feb. I am now debt free and all my purchases since September have been paid in full.

Now I have seen a TV that I desire but do not have the full purchase cost in cash but the store is doing an zero percent interest over a year which is easily affordable. However will my credit rating still prevent this going through. Obviously the IVA stays against my name for 6 years since it started but has anyone managed to get credit within this period?

As your IVA has completed you are again eligible to take out credit again. However, you are correct in stating that with the IVA still on present on your credit file obtaining credit could be difficult.

I would suggest that you contact the company providing the credit and guage their opinion on whether you would or would not be eligible for this offer.

Thanks - it is with Debenhams but I presume someone will run their credit facility.

Since the completion of my IVA my bank asked if I wanted an overdraft. I thought this might help so said yes and try to dip into it and then come out again fairly quickly as I think this will help my credit score - is this nonsense?

I am not a credit score expert by any means but as I understand it, there is some truth in the idea that being accepted for credit can increase your credit score.

Be careful though as banks are constantly trying to upsale to their clients and the offer of the overdraft from them is most likely still to be subject to credit score checking.

dont do it, you now debt free, please remain so

Once you start on the slippery slope to credit again, will you be able to stop?