www.iva.co.uk

What will happen to my credit rating after I agree to an IVA?
I have unsecured debt of £28350 .Will an IVA let me be completely debt free?

Hi teo

An IVA does not let you be completely debt free! It is merely a method of repaying your debts by agreeing terms of repayment with your creditors. If you make all of the payments in accordance with the terms of the IVA - usually five years - then the balance of your debts will be written off at that point. References to the IVA will remain on the credit agencies files for six years from the date the IVA is accepted.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

IT will not be good,but that should be the last thing that you should be worrying.

hara.

The IVA will show on your credit file for 6 years and will give you an adverse credit rating.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

In an IVA you must pay back as much as you possibly can to your creditors, my advice would be to contact at least 2 or 3 companies to gain some advice as to whether an IVA would be best for you.

Best Regards. IVA Experts

Hello Teo,

All IVA's are registered at a central database maintained by the government's Insolvency Service, and details of these are passed to credit reference agencies. When your IVA concludes successfully, your credit rating will gradually be repaired.

Kind regards,

Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm