Hi all, really pleased to say that my f&f was accepted today after 5 and half years of paying really really pleased!!!
My question now is what's next...? Some seem like minor silly things I know!
Can I start to apply for credit straightaway to better my record or do I have to wait for my completion certificate (believe that could be 3 to 6 months?) Or even when my name drops off the insolvency register at the very end of the agreement?
Any other tips for building a better credit record as I would like to remortgage on better terms one day as well.
Can I upgraded my bank account to contactless etc?
Sorry for all the questions and thanks for all the help along the way!!
Until you get your certificate you are still in an IVA so cannot apply for credit. By the time that arrives and you are off the Insolvency Register the IVA will be ripe to drop off of your credit files, along with correctly dated defaults. Have a Read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record . Getting defaults sorted can sometimes take a while, so you could get started on those right away, to check that they are correctly dated.
EDIT: Having refreshed my memory you were in the IVA 4 and a half years, not 5 and a half ...so you will have a little wait after all. Still ... better check those defaults sooner, rather than later. Until that 6th anniversary your credit record will stay shot and there is little you can do about that.
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
As for the questions-
Best to wait until you have CC before applying for credit.
We got a vanquis card with £500 limit at first used it carefully then few months of good use they increased limits etc.
Then after a year or so of managing it well and credit limits increasing we got a high street card and did balanc etransfer etc.
Credit Karma is really good for monitoring your credit history and what elements need improving etc and matches cards to your credit meaning more likely to be affected than fishing about in the dark.
we got a high street mortgage, sold house and bought dream home after 18 months of completing IVA. Its all possible withthe right understanding of financial products, brokersfor whole market products and patience to recover credit history
Great news well done. Check your default dates and have them changed to reflect the start date of your iva.
Until your certificate arrives and the 6th anniversary of the start your credit rating will not improve.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !