What happens if I pay my IVA balance in full before the 5-year contract?

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maria701

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Post by maria701 » Sat Mar 03, 2018 8:19 pm
What happens if I pay my IVA balance in full before the 5-year contract? How long before my credit score be restored or improved? Or how long before it’s erased from my record? Or will it be erased?

kallis3

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Post by kallis3 » Sat Mar 03, 2018 8:22 pm
Your IVA will remain on your credit record for the full six years regardless of whether or not you pay it back in full.
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.

bridgey

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Post by bridgey » Sat Mar 03, 2018 10:48 pm
kallis3 wrote:
Your IVA will remain on your credit record for the full six years regardless of whether or not you pay it back in full.
But you should see an improvement, if not substantial, right?
Half the lies you tell aint true

kallis3

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Post by kallis3 » Sun Mar 04, 2018 9:04 am
It will say 'settled' but you won't see much improvement until it drops off your records.
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.

Foggy

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Post by Foggy » Sun Mar 04, 2018 9:40 am
The fact that the IVA is there will overshadow everything else. The CRA's will add a few points on your score, which is meaningless as creditors do not see "scores", just history -- complete with an IVA !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/
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