How to you recover credit score?

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l
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by l » Wed Oct 10, 2018 8:14 pm
How to you recover credit score wise from an IVA? I’ve finished my IVA earlier this year by offering a full and final settlement. I entered my IVA 1 year previously. All my accounts are still in default and some have outstanding balances attached which I am trying to work through and get cleared. Does it drop off 6 years after my account first went into default? Experian is so scary when I look at it :-(
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kallis3
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by kallis3 » Wed Oct 10, 2018 10:28 pm
Your credit score will remain bad until 6 years from the start of your IVA.
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Foggy
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by Foggy » Thu Oct 11, 2018 6:52 am
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Lisa Thomas
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by Lisa Thomas » Thu Oct 11, 2018 8:15 am
You might find this quick video I made about cleaning up your credit record useful:

https://youtu.be/PV4RzUY4BRM
Noddle and Clearscore are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/
stanley2018
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by stanley2018 » Tue Oct 16, 2018 3:02 pm
l wrote:
How to you recover credit score wise from an IVA? I’ve finished my IVA earlier this year by offering a full and final settlement. I entered my IVA 1 year previously. All my accounts are still in default and some have outstanding balances attached which I am trying to work through and get cleared. Does it drop off 6 years after my account first went into default? Experian is so scary when I look at it :-(

I got a vanquis card, only 500 limit .Hardly ever use it but as a credit builder is a start.
Iva completed in July.
Being debtfree feels great.Keep going all the people who have one. !!!
stanley2018
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by stanley2018 » Tue Oct 16, 2018 3:05 pm
l wrote:
How to you recover credit score wise from an IVA? I’ve finished my IVA earlier this year by offering a full and final settlement. I entered my IVA 1 year previously. All my accounts are still in default and some have outstanding balances attached which I am trying to work through and get cleared. Does it drop off 6 years after my account first went into default? Experian is so scary when I look at it :-(

After six years you can start to rebuild your credit score until then it's a right off.
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kallis3
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by kallis3 » Tue Oct 16, 2018 3:20 pm
Make sure your mortgage (if appropriate) and such things as mobile phone contracts are up to date, also your bank account - it all helps.
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Ryan
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by Ryan » Tue Oct 16, 2018 3:47 pm
Also best to make sure that you are showing on the electoral register as that is a major plus on credit scoring.

Regards
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