Will my credit rating still be bad after IVA finished ?

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tinkerbell

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Post by tinkerbell » Mon Jun 06, 2011 11:15 pm
I have 6 months left on my IVA - my boyfriend wants to pay the remainder off in a lump sum now rather than wait until it's finished, is this possible? We are also thinking of buying a house together later in the year, if my IVA is cleared early will this be possible or will my credit rating still be bad? Thanks
 
 

ginger3232

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Post by ginger3232 » Mon Jun 06, 2011 11:18 pm
Tinkerbell - the IVA will be on record for a total of 6 years - even after then you may need a big deposit and use a broker. As well as rebuld your credit history

By the time they have F+F meeting - you will find you only have a few months to go - better to use the lump sum towards the deposit and let the IVA run its normal course
Last edited by ginger3232 on Mon Jun 06, 2011 11:25 pm, edited 1 time in total.
 
 

MelanieGiles

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Post by MelanieGiles » Mon Jun 06, 2011 11:51 pm
I agree!
Regards, Melanie Giles, Insolvency Practitioner
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