A few questions please

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relieved.comm
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by relieved.comm » Sun Mar 11, 2018 8:11 pm
Hi there, i completed my last iva payment( had to pay extra 12 month in leiu of equity not being able to be released) begining of Feburary, waited a few weeks, heard nothing, so decided to ring company up to see what next step was. After eventually getting through to them after a couple of days, i was told i need to supply 3 months payslips and a p60, which i supplied straight away, was then told they had stopped direct debt(which they have), and informed it would take between 3 to 6 months to issue a completion certificate(having read on here they seem very slow to to do so, as quite a few topics on this), assuming i had nothing more to pay from the payslips i was to supply etc.... Its quite a relief to see end in sight to be honest!!!. Ive a couple of questions/query's if people wouldnt mind me picking their brains please.

1. Am i right in thinking that until the cc has been supplied, im still bound by the iva terms, as in overtime etc...

2. I would like to start to rebuild my credit rating, but am not sure how to go about it asin applying for credit etc...

3. My morgage is no longer in a fixed term, and would like to try and accuire a better deal.

4. My car is 11 years old, and falling to bits to be quite frank, i would like to try and purchase a new one at some point.( i know im unlikely to get the credit anytime soon) Do i have to wait for the completion certificate?

Im not eager to go back into debt, but am much more wise for this experience, however i am at some point in the future going to need to be able to accuire credit for house repairs etc...

Thank you in advance.
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Foggy
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by Foggy » Sun Mar 11, 2018 8:22 pm
1. Am i right in thinking that until the cc has been supplied, im still bound by the iva terms, as in overtime etc...

Not quite -- you are bound by windfalls. lottery wins, that sort of thing, but earned income is now taken out of the equation and you no longer have to account for this.

2. I would like to start to rebuild my credit rating, but am not sure how to go about it as in applying for credit etc...

Have a read here : https://www.iva.co.uk/what-does-an-iva- ... dit-record and have a look at the lastest entries in my blog (link in my signature block below)

3. My morgage is no longer in a fixed term, and would like to try and accuire a better deal.

Best to wait until your credit files have cleared up and have a word with Ryan and / or Shaun : memberlist.php?mode=team in yellow, towards the bottom of the list.

4. My car is 11 years old, and falling to bits to be quite frank, i would like to try and purchase a new one at some point.( i know im unlikely to get the credit anytime soon) Do i have to wait for the completion certificate?

Yes.... until you get that the credit files will not clear up and you will not get credit at reasonable rates. Also, until you get the certificate you are still bound by the terms -- i.e no credit without the IP's agreement. (My car is 13 years old and I still haven't worked up the bottle to apply for a deal !! )
relieved.comm
Posts: 2
by relieved.comm » Sun Mar 11, 2018 8:37 pm
Hi Foggy, thank you for the quick and very helpful reply,your answers make sense and ill have a look at all the things you've suggested.

Thank you much appreciated.
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