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Posted: Fri Jan 20, 2012 5:56 pm
by stephendl
Just want to check something,

I have applied and been accepted for a nationwide mortgage, went into branch and completed full application for a property we have brought. She asked me if I was ever made bankrupt but not if I was in a Iva, so I said no,

Now looking at the legal searches it says there will be a bankruptcy search carried out,

My question is they search the insovancy register, and go back 100 years so I've read, will I be on there even though I was in a Iva and not bankrupt? It's been 6 years and my credit report are all clean hence the acceptance

Posted: Fri Jan 20, 2012 5:59 pm
by Foggy
If they specifically used the word bankrupt, then you answered honestly, so you are OK from that point of view. What they will do if they discover the IVA is anybodies guess at the moment.

Best of luck, let us know how it turns out.

Posted: Fri Jan 20, 2012 6:00 pm
by kallis3
Once your IVA is complleted then it should have dropped off. Check it for yourself. You'll see what they can see.

Posted: Fri Jan 20, 2012 6:22 pm
by stephendl
Yeah she specifically said "have you ever been made bankrupt" I came off the insolvency register last year, about 13 months now so I am no longer on there but what I'm thinking is, will the solicistor go back say 6 / 10 years? Also I guess even though it's a bankruptcy search an iva will show on there?

Posted: Fri Jan 20, 2012 6:24 pm
by kallis3
I don't know how far they go.back but it will say IVA if they find anything.

Posted: Fri Jan 20, 2012 6:37 pm
by stephendl
Hmm, so my mortgage could get thrown out, ok thanks for your help, much appreciated

Posted: Fri Jan 20, 2012 7:05 pm
by Daveyboi
They have specifically asked if you have been made "bankrupt", if it does come up on their search that you have been in an "IVA" you have not lied and hopefully it won't affect their judgement. If they were concerned about that they would have asked if you have ever come to an agreement with your creditors before on debt.

I wish you the best of luck keep us updated and don't be too defeatist too soon it may all be well. Also if they do reject you there are companies that don't mind post IVA's so don't give up hope. There's always a solution somewhere :D

Posted: Fri Jan 20, 2012 7:08 pm
by kallis3
Good luck from me as well.

Posted: Fri Jan 20, 2012 7:08 pm
by plasticdaft
There is no record of your IVA though,after it drops off the credit files,other than if any creditors keep records of customers who went into an IVA themselves.

Paul

Posted: Fri Jan 20, 2012 7:15 pm
by Adam Davies
Hi
Whenever you buy property, regadless of your credit history, the solicitor will carry out a bankruptcy search.

You have nothing to worry about

Regards

Posted: Fri Jan 20, 2012 7:15 pm
by Daveyboi
In previous threads it has been said that companies can basically print off the insolvency register and then no matter whether you are on it now or not they can search you forever more that you have been on it. Whether this is true or not I don't know but I do know that if you are asked if you have been in an IVA or ever come to an arrangement with your creditors I would say answer truthfully as you could be done for fraud if you lie on a legally binding contract such as a mortgage and is really not worth it.

Posted: Fri Jan 20, 2012 7:32 pm
by Adam Davies
Hi

I am not aware of it flagging up on the Insolvency Register unless you are still on there.

Answer truthfully, if asked have you ever been made bankrupt and you haven't then you have nothing to worry about. If it states have you ever been made bankrupt or entered into an arrangement with your creditors then the answer should be yes.

Regards

Posted: Fri Jan 20, 2012 7:38 pm
by Daveyboi
Andy it was in a previous thread where some companies do a kind of yearly download of the Insolvency register which of course shows IVA's as well as bankruptcy then they have a database of their own to search in the future so whether you are on the insolvency register or not you could still be searchable. Basically by making it an online database and so accessible it means companies can use that information in the future against you potentially.

As I have said and you appear to agree just answer truthfully and then nothing can be held against you

Posted: Fri Jan 20, 2012 7:58 pm
by stephendl
Would a solicitor do this though? I have answered it truthfully she asked if I was bankrupt I said no. I was in a Iva but never bankrupt

Posted: Fri Jan 20, 2012 8:01 pm
by Daveyboi
I very much doubt it Stephen I think you have answered everything truthfully and have nothing to worry about. If you do have any problems my advice stands to not give up hope and just research into companies who are accepting of post IVA candidates. I think you will be fine.