Declaring an IVA

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by ryan150 » Thu Feb 01, 2018 3:40 pm
Hi, do i have to declare a completed IVA whilst applying for a loan? The IVA is not on my credit report anymore. Thanks..
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Forum Expert
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by Foggy » Thu Feb 01, 2018 4:30 pm
If they ask you should answer honestly --- if they do not ask, don't mention it.

Remember though that they will not always say "IVA" specifically -- sometimes they ask if you have made any arrangement (an IVA is on such), or composition with creditors. There is also a subtle difference between "have you entered an IVA in the last 6 years" and have you ever entered an IVA".
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Shaun Vickery
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by Shaun Vickery » Thu Feb 01, 2018 5:23 pm
I agree with Foggy. The topic has been debated numerous times on the forum but in my opinion not declaring it if you are asked the question is fraud. They may ask the question 'have you ever entered an arrangement with creditors' in which case the answer is YES. If they ask 'in the last 6 years have you entered into an arrangement...' then the answer is NO. If they ask 'in the last 6 years have you been party to an arrangement...' then the answer is YES. You just need to find someone who asks the right question on the form, but even if they ask the question and you say YES, doesn't mean they won't lend. Clear as mud?! I hope it helps.
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