What happens with our credit file

[karen.d]

Hi We finished our iva at the end of last year as we managed to pay it off early.What happens with our credit file now and will we have any problems applying for a loan? thanks

[kallis3]

Hi Karen and welcome to the forum.

Congrats on finishing your IVA early.

Your credit record will be shot for 6 years from the date your IVA was approved, so I doubt you would be able to get a loan for a while.

[Viki.W]

Hey Karen, welcome to the forum. Congratulations on finishing your IVA. Your credit file will be rubbish for six years from the date your IVA was accepted. Once the six years are up it will drop off your file. X

[look_divine]

you just finished a IVA and you are thinking of getting a loan?

[plasticdaft]

you just finished a IVA and you are thinking of getting a loan?

HAHA thats exactly what I was thinking.

I dont want to be judgemental but it occurs to me that people who somehow manage to pay off their IVA's early dont get the same learning experience as those who go through the full 5 or 6 years worth,and are possibly more likely to re-offend(for want of a better word). May be I am talking rubbish,but just thought I'd share my thoughts.

[indebtforever]

i will never go down that road again i feel like i have been in jail on bread and water for 3 years in this iva .i am going to take great pleasure from saving my money and paying for everything with cash[:D]

[look_divine]

i thought it was just me
life huh lol

[TheMatrix]

No me too but will get through it.

[Lisa2009]

Hubby finished his IVA 2 years early in December. He deffinately doesnt want credit again so i think its a bit harsh to say those that end early dont get the same learning experience.
There will be a handfull of those that finish early or do the full 5 years that will be tempted again.

[angelrainbow]

I wouldn't want a credit card or loan but I do hope to get back on the property ladder after the 6 year point..I don't know how realistic that aim is though[:(]

I haven't even started my IVA and it is learning experience enough just to have got to this stage as far as I'm concerned!

[indebtforever]

its maybe just me but i feel like i am owned all the time whilst in this iva strange like nothing is mine anymore and i have no say in anything [:I] it is a godsend to some everyone is different i hope it works out for you.

[fedup and broke]

I was thinking the same. I have only been in my IVA for 2 months but boy it has taught me a big lesson already. I am soooo tight with money now. I don't spend money on things I don't need and I am always looking for a bargain. I have also found that having a bank account with only a cash card - I don't go to to bank as often and spend cash. I have completely changed my outlook on money and would never go down the route of borrowing again.