Post IVA - credit with creditors included in IVA?

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comps78
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by comps78 » Mon Jan 25, 2010 10:49 pm
I completed my IVA via full and final settlement in September 09 after 3 years. Once I have repaid the relative who lent me the money for the F&F I will be saving hard for a deposit for a house.

I understand that after 6 years my credit file will be clean with no IVA and no defaults showing but was wondering whether creditors themselves would internally blacklist those who have defaulted with them so the 'clean' credit file will be worthless. Am thinking in terms of a future mortgage after the 6 years is up...

 

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MelanieGiles
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by MelanieGiles » Mon Jan 25, 2010 11:02 pm
They might do - but the reality is that they will probably be queueing up to lend you money again - don't forget this is how banks earn money!

Well done for successfully completing an IVA and being able to move on afterwards.

 

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comps78
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by comps78 » Mon Jan 25, 2010 11:08 pm
Thanks Melanie, it was hard 3 years and I have well and truly learned my lesson. I am so frugal now it's untrue and I just LOVE saving rather than spending!

 

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Shining
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by Shining » Mon Jan 25, 2010 11:10 pm
Hi comps, well done from on the completion of your IVA, it's good to know it's changed you into a saver rather than a spender. I'm hoping to be the same when I complete.

 

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kallis3
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by kallis3 » Tue Jan 26, 2010 6:27 am
Good to see that you are doing so well comps.

 

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Adam Davies
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by Adam Davies » Tue Jan 26, 2010 11:32 am
Hi
My wife has an account with Littlewoods and this was one of her creditors in her IVA, now completed. I had debts with the Co-operative bank, now my main bank, and also with Alliance and Leicester who I now have a business account with, both were creditors in my IVA. So the answer is no you will not forever be on a list that prevents you from using that creditor again
Regards

 

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animaleyes76
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by animaleyes76 » Tue Jan 26, 2010 12:15 pm
Good to know.. I had wondered the same thing myself :)

 

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comps78
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by comps78 » Tue Jan 26, 2010 3:36 pm
Thanks Andy, that's good to know. Just need to save a deposit now!

 

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MelanieGiles
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by MelanieGiles » Tue Jan 26, 2010 9:45 pm
That's a great post Andy - nothing like knowing what has happened to someone who has been through the full process. It is right that those lenders have offered you facilities again - and not long after your own IVA were concluded either.
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