Advise Please FF savings

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riverakid32

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Post by riverakid32 » Mon Jul 26, 2010 7:56 pm
Hi

although I quite often search the site I have never asked a question so here goes (any help would be much appreciated).

I had my IVA approved in October last year and I successfully completed the IVA early this year through a full and final settlement.

Since then my life/job has changed significantly for the better (I wish I knew this was going to happen a few years ago!!) I have recently tried to set up cash ISA with co-op who said no? I have cleared up my credit file and although I realise that the defaults will remain with me for the next 6 years they are now all marked satisfied, my IVA is also marked as complete.

So my question is will I have to wait the six years until I can open a savings account apply for a mortgage get a mobile phone contract etc....

I realise everyone is different and this is probably not easy to answer or advise on. Is it worth going into a bank and discussing things with them or is it just a computerized yes or no and thus a waste of time?

Also could anyone recommend any specialist mortgage advisers I can speak to, or again is it just a waste of time and best to serve my 6-year sentence?

Thanks for your help in advance d:-)
 
 

Shining

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Post by Shining » Mon Jul 26, 2010 8:09 pm
I think mortgages whilst in an IVA are pretty non-existent but not sure about when you've completed.

I have a savings account opened just pre-IVA so have managed to keep this with a minimal amount in it.

Not sure if it will be 6 years for all of the above but sure someone who does know will be along very soon.

I know that sometimes face to face meetings with banks etc., are better as they can override the computer says 'no' button. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

riverakid32

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Post by riverakid32 » Mon Jul 26, 2010 8:53 pm
thanks lesley
 
 

Shining

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Post by Shining » Mon Jul 26, 2010 8:58 pm
No worries we'll keep it bumped up, won't be long before someone in the know comes along x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

luluj

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Post by luluj » Mon Jul 26, 2010 9:03 pm
try Grosvenor Finance - 0121 352 0888 - I spoke to them today regarding mortgages and if you are looking for a lTV of 50% or less then they can help with people in IVA or finished IVA !

I opened as Cash Isa with the Alliance & Leicester a few months back whilst in an IVA with no issues.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
 
 

riverakid32

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Post by riverakid32 » Mon Jul 26, 2010 9:42 pm
thanks Lulu

I will try Alliance & Leicester, if you don't mind could i ask what kind of rate you were offered on the mortgage.
 
 

MelanieGiles

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Post by MelanieGiles » Mon Jul 26, 2010 9:47 pm
I'm pretty sure it's around 8% - but luluj can probably confirm this better.
Regards, Melanie Giles, Insolvency Practitioner
 
 

riverakid32

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Post by riverakid32 » Tue Jul 27, 2010 9:07 am
Thank's Melanie

better get a 50% deposit together where did I put that lottery ticket d:-).

With regards to my banking arrangements now that I am released from my IVA througha full and final, will this have any bearing/easing on my ability in obtaining a bank account with a debit card, savings account ect also as the years pass does my credit improve or is it just a case of waiting out the defaults.
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