As part of potential property purchase I understand solicitor will carry out a bankruptcy search. While I have never been bankrupt my IVA completed just over 3 years ago. I am worried my IVA may still show up somewhere, is this possible? I am not on any register now given completion so long ago. Does anyone know how solicitor bankruptcy searches work? Are they only looking for current or pending bankruptcies and nothing to do with IVAs?
Foggy wrote:I believe they only check the insolvency register so it shouldn't show up. I am presuming you have done all the usual "housekeeping" operations ( checking the register and credit files yourself).
Yes. I am not on the register but as IVA only started 4 years ago it hasn’t dropped off my credit file even though it’s marked as completed. I know it takes 6 years from start date.
I have a few solicitors telling me that the IVA even while completed could show up on their bankruptcy search. One solicitor told me they use equifax and Experian for bankruptcy search so it sounds to me that’s a full credit search not just a current register search which I am not on.
As for bankruptcy searches -- I do not know for certain, but I imagine the CRA's have a limited search product for such searches which only shows court information -- which will include an IVA, but which will show as completed, so will indicate that you are not currently in an IVA (or bankrupt).
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