www.iva.co.uk

Hello,

I am really really fed up and feel having had an IVA is messing my life up. I started my IVA Jan 2006, completed in Feb 2008. I cant get any credit cards (to build my score back up), the only mortgages i can get are between 8-9% interest rate with a 20% deposit. But what really makes it worse and tops it all is that it is affecting my career.

I am training to become an Accountant. I am AAT qualified and currently studying ACCA. I applied for full membership to the AAT in March so that i can be a member and use the letters etc.. BUT needed to declare that i had made a previous creditor arrangment on the full membership application form. They dont even bother writing back to let me know the progress so after about 5 weeks i call them and they tell me that I will be taken to disciplinary and investigated. This was demoralising in itself.

So the latest is that they contacted me last week asking for ALL the details of the IVA (amounts, reasons, type of credit, creditor names, everything and anything). I have sent this to them but am waiting for a response. I am soooo ANNOYED. I have spent a massive amount of my time studying and working hard on my AAT, spending loads of money and pushing myself to pass. And now im being told that I may not even be able to become a member and whatever decision they come to is FINAL. How can they do this to me ? I have worked soooo hard and feel they are punishing me.

When i took out the IVA, i did not see it as a way to cheat the crediors out of some money. I saw it as an honest logical way to sort my financial problems out.

Have you got any advice ? Im so fed up !!

Thanks for your time !!!

Hi Thomas,
Sorry I haven't got any advice to give - but I'm sure someone will be in touch soon from the site. I really feel for you, you've completed your IVA and paid what you can to your creditors. You would think that would count for something.
Life's a bitch! I've just started my IVA and had hoped there would be an end in the years to come, but you are still suffering.
Chin up and feel proud of yourself for all the studing and what you have achieved so far.
Hugs,
Chardonnay

Hi Thomas,

Sorry to hear your tale of woe, I do know how these things can affect job applications, particularly those in the financial sector.

However, I do wonder why, after clearing all your debt, you would want to get into more debt? A mortgage is fine and most people will have one of those, but I think there are other ways of repairing your credit file rather than having more credit cards. I know that when I have finished mine in just under 5 years, I am NEVER going down that route again!

Hello,

Thanks for both your replies and thanks to Chardonnay for your support.

Kallis > I think you have totally misread the credit card situation. I do want a credit card, but i did make a point of stating in brackets that it is to build my credit file back up.

I have a well paid job now and am financially sound with hundreds of excess disposable income.

I do not need a credit card for extra cash and would never use one again for that (getting into debt and dealing with it has definately taught me that lesson).

All i want is to have a credit card, spend say £20 per month and pay it off in full each month. That way it will definately help my credit file.

You mentioned that there are more ways to repair my credit file. If you can give me some advice on that respect it would really be appreciated.

Thanks

Do you have a mobile phone contract? The service providers report to the credit reference agencies and this will slowly improve your credit rating, as will keeping your bank account in good order.

'This is money is one site', although it does mention getting cards as long as you pay the balance off regularly.

The only problem with that is, that if you keep applying and being turned down it will make things worse.

I googled 'repair your credit' and it did bring a few different sites up.

I may have got my wires crossed as I had seen things offering to repair credit. Apologies for that.

I hope you are strong enough to resist the temptation of the cards. I know I would struggle!

Hi
Try the Vanquis credit card,you should be able to build up your credit rating.Also the Co-op Cashminder bank account reports to the credit agencies.
Good luck with the AAT,I am sure that they will see sense
Please keep us informed
Regards