adverse credit question

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Mark Bruton

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Post by Mark Bruton » Sat Jul 06, 2019 12:52 pm
so when your answering the mortgage questions they seem to ask now if you have had any adverse credit in the last 6 yrs, so what would be the correct answer? is it yes as i've been through an iva in the last 6 yrs or is it no as i haven't tried to apply for credit so in theory there is no bad record on my credit file or history. seems an odd way to phrase it and they haven't actually asked if i've been in an iva.

Foggy

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Post by Foggy » Sat Jul 06, 2019 1:56 pm
It is down to the wording of the question -- as well as the attitude of the lender to the reply.
Some ask "Have you entered an IVA in the last 6 years?" -- which would be no.
Some ask " Have you been in an IVA during the last 6 years?" -- which would be yes.
"Have you had adverse credit in the last 6 years?" would also be a yes.

Some lenders don't really care, some will never lend after an IVA. The trick is to be selective as to who you approach. I would suggest using a broker who is experienced with adverse credit in general and IVAs in particular.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Sat Jul 06, 2019 3:40 pm
You could always speak to Ryan or Shaun to see if they can help you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Mark Bruton

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Post by Mark Bruton » Sat Jul 06, 2019 4:34 pm
i'm sort of in the process with that it's just their fees are making them a last resort at the minute

iva1966

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Post by iva1966 » Sat Jul 06, 2019 6:12 pm
Hi, yes I admit the fees do seem high but we have been in contact with Mike from Ryan's firm who has got us an amazing deal and we have :) faith that he will see it through for us. There are lots of pitfalls out there .... we just need to sell our house now
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