will having an iva stop you from having finance

[bertie]

will having an iva stop you from having finance in the future for example when buying a car or will it affect buying a house

[MelanieGiles]

Hi bertie and welcome to the forum

Not necessarily, but this will be down to the individual decision making policy of any prospective lender. An IVA stays on your credit file for six years from the date of acceptance by creditors.

Credit sought whilst an IVA is in place, must only be taken out with the express permission of your Supervisor, and only when it is for the good and benefit of the success of the arrangement.

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

[Oliver]

You may still be able to obtain secured finance for a car but you will need to notify the lender that you are in an IVA as this may preclude you from borrowing from certain companies.

As Mel says it's important to discuss any potential borrowing with your IP beforehand.

Best Regards
Oliver

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

[iva_squirrel]

Hi bertie,

i agree with the above posts. You can always have secured credit but you should speak with your IP first and keep in mind that you'll have to inform the lender about the IVA.