Withdraw IVA if possible & call the creditors to agree on the reasonable amount

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Dandan79uk
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by Dandan79uk » Mon May 22, 2017 12:23 pm
Hello

Would you please help ,
I entered iva in April 2016 and my Iva settled September 2016 with lump sum around 50% in total I was own to creditors , Iva completed in March 2017 and received cereticate of completion but they told me IVA will stay in your credit file for 6 years ,
personally I didn't understand IVA impact that much and damage my credit file ,
Also I found the Iva company taken around £4400 for proceeding Iva ,
I would like to withdraw Iva if possible and call the credites to agree on the resnable amount, please help if this is possible or if you have better idea please let me know , I just want get out of bad credit to sort a mortgage out .
Many thanks
Taher
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kallis3
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by kallis3 » Mon May 22, 2017 12:58 pm
Hi,

If your IVA has completed you do not owe any more as long as you have your completion letter. Your credit rating will be shot for six years and there is nothing you can do about that. Your creditors will have been paid off so you won't be able to cancel and start again.
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Ryan
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by Ryan » Mon May 22, 2017 1:41 pm
Unfortunately you can't reverse the impact that entering into the IVA will have now where a Mortgage application is concerned - the defaults will show for 6 years and most Lenders would ask if you have been in an IVA as part of a Mortgage Application.
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Foggy
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by Foggy » Mon May 22, 2017 2:55 pm
Your IVA has completed and you no longer owe the creditors anything .. there is nothing to withdraw. Even if you could it will still be on your credit record.

Have a read here:

http://www.iva.co.uk/what-does-an-iva-d ... dit-record
redboxtree
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by redboxtree » Mon May 22, 2017 3:37 pm
Even if your creditor had accepted reduced payments you would be faced with the same problems. The only difference is anything that you would have owed is now written off.
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Lisa Thomas
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by Lisa Thomas » Tue May 23, 2017 12:30 pm
The fee seems reasonable too.

You might find this quick video I made about cleaning up your credit record useful:

https://www.youtube.com/watch?v=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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