IVA completed but still on insolvency register. Urgently need a new boiler.

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nearlyover123
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by nearlyover123 » Sun Dec 17, 2017 10:19 am
HI,

We recently completed our IVA with Harrington Brooks and have received our completion certificate dated 6 October. At the time I was informed by Harrington Brooks that we would stay on the insolvency register for another 3 months following completion, this news was a little frustrating but not a big deal.

Now our 20+ year old back boiler is almost dead! We are struggling with unreliable heating just when we need it to work the most with the current weather. I've been looking at a couple of firms on the internet that offer fast combi boiler replacements (they can fit this week) with interest free finance over 12/24 months.

I guess the question i'm asking is that would I be likely to achieve an acceptance for the finance whilst still on the insolvency register? Now that the iva is completed, we could repay the cost of the boiler in 4 months from the money that we used to pay HBrooks.

I've checked my Experian credit file and all traces of the IVA have been removed, likewise my Experian credit score is showing as 999 out of 999. However, at the moment my wife and I are still showing on the Insolvency database.

Has anyone been in this position before? If so, what course of action would be suggested.

Many thanks in advance.
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Foggy
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by Foggy » Sun Dec 17, 2017 10:28 am
I doubt that the finance company will search the Insolvency Register, but ... I also doubt that the IVA will have gone from all three credit reference agency files while you are still on the Register --- the finance company might well use one of the other two. BTW an Experian score of 999 is not always a good thing -- it is a default score indicating that there are things they do not have full intel on.

Have you had copies of the statutory reports from each agency ( couple of quid a pop) ?
nearlyover123
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by nearlyover123 » Sun Dec 17, 2017 10:50 am
To be honest, I hadn't bothered with the statutory copies as I did the free trial on Experian and everything looked good (or so I thought, now I'm not so sure).

Harrington Brooks were brilliant especially one particular advisor, Victoria, who took ownership of an issue regarding my wife's employment requirements and bent over backwards to help us complete as quickly as possible. I guess I just presumed everything would be finalised fully due to this helpful atitude.
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Foggy
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by Foggy » Sun Dec 17, 2017 11:08 am
Have a read here, as well as the last few entries in my blog ( link in the signature block below) :

https://www.iva.co.uk/what-does-an-iva- ... dit-record
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Radish
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by Radish » Sun Dec 17, 2017 1:19 pm
I heard a story once of a guy desperately needing some money, and went to a local unemployment place (he was actually working) and applied for a budgeting loan or grant (I cant remember which) for a couple of hundred quid and got it !! I know little about this unfortunately but wanted to share my experience (or someone else's)
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kallis3
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by kallis3 » Sun Dec 17, 2017 3:10 pm
I think things have changed a lot since then - everything has been tightened up.
jeni70
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by jeni70 » Mon Dec 18, 2017 8:59 am
thanks for sharing your post.
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Lisa Thomas
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by Lisa Thomas » Mon Dec 18, 2017 10:23 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/
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Shaun Vickery
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by Shaun Vickery » Tue Dec 19, 2017 3:44 pm
I agree with Foggy, it's unlikely the finance company will look beyond the credit search so, as long as that doesn't show the IVA you should be fine.
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