Hi, I satisfied an IVA in March 2017, it has long since disappeared off my credit files and I have successfully rebuilt my credit scores. Must I declare this historic IVA to future parties, such as insurance/mortgage companies who specifically ask if I’ve ever been in an IVA? I like to be honest but I’ve just been refused a jewellery insurance policy for £94 per annual by the under writer because the completion date of the IVA is within the last 5 years! The Iva is no longer on the public register or my credit files so is there any other way they could know?? I’m in two minds whether I should declare it now? I would appreciate some advice please.
Can you be found out is the question --- I don't know is my answer, If you do get found out the best result is cancelling the policy ... through being blacklisted on the insurance companies shared database ... to the worst result of finding yourself on fraud charges for making a false declaration (though that sounds a bit draconian!).
I like to think that we have the right to be forgotten --- but I would hesitate to bet any money on it. Go for the firms that ask if you are in an IVA or the ones that don't mention it at all.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
With regards to mortgages we certainly know of people who answered 'no' to the question and were subsequently declined when they applied directly with Lenders. There's really no need though as we have access to High Street Lenders who will look to lend normally 6 years after the IVA began.
Regards
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre
IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?