Will my credit score improve as iva drops off credit file?

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andrew418
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by andrew418 » Sun Jun 03, 2018 7:09 am
Hi there my I’ve is due to drop off my credit file 07/06/2018 so next week .
My credit score is so low my bank won’t upgrade my account until it goes soon as it drops off will my score in crease?
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kallis3
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by kallis3 » Sun Jun 03, 2018 8:24 am
If you have things such as a mobile phone account, that will help. You could always see if you can get a credit card - most companies will do a soft search which won't show up on your credit record and will let you know whether or not you will be accepted.

Keep checking your credit record to make sure it does drop off.
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Foggy
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by Foggy » Sun Jun 03, 2018 11:25 am
It will improve over a few months to a year. However, the bank is referring to the fact that the IVA is mentioned on your report at all ... NOT to the "score". Lenders do not see a "score" as such but only the facts (what you owe and to whom, along with what you have and have not repaid while the IVA and defaults show on file.
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Ryan
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by Ryan » Mon Jun 04, 2018 9:04 am
Hi Andrew,

It's also best to check all 3 credit reports (Experian, Equifax/Clearscore and Callcredit/Noddle) to make sure that all 3 have the correct information as different Lenders subscribe to different reports and some will view more than one.

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MortgageTips
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by MortgageTips » Wed Jun 13, 2018 4:18 pm
andrew418 wrote:
Hi there my I’ve is due to drop off my credit file 07/06/2018 so next week .
My credit score is so low my bank won’t upgrade my account until it goes soon as it drops off will my score in crease?


Hi Andrew
Have you checked your Credit report, has the IVA dropped off? If not you should call the Credit reference Agencies & have them update/correct their data, only then will you see a big improvement.
Happy to help you with this.
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