I finished my ivain august 2010. Never missed a payment. why can I even get a £1000 loan from a high street lender ? despite having a credit score of 979 with experian?
who can I trust to get a loan from?
Many Thanks
Hi. Did you check that the IVA dropped off of your credit files at the 6 year mark. Also that the default dates were correctly recorded? If this has all happened you will basically have a blank credit record, which is as bad as the defaults as it shows no record of being able to handle credit correctly. You will need to build up a positive history, with something like vanquis or a pre-pay credit builder card. Also keep things like utilities and mobile phone accounts up to date and running sweetly.
Finally, I ask the question --- why do you want credit? Is it for something you want or something you need right away. Fresh out of IVA, you should have a healthy disposable income from which to save for whatever it is you are after.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Julien - just to add to what Foggy has previously stated . Would not get hung up on "credit score" as all lenders score diffrently (so it actually means nothing).
I would try to rebuild your credit rating a bit first, why not try a Vanquis or similar credit card and pay the balance off in full each month. Try all 3 credit reference agencies to see what they have recorded about you too, not just experian.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Although I'd give experian no credence with credit scores, I'd ask why the score is not 999.
It would suggest something is still on the credit file. IVA, old default etc..
Check that first, then may be apply to your own bank for a credit card, but only if you are going to pay it off every month without fail. This should really be used to rebuild your file only.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Hi Julien if you would like a loan facility why not join a credit union, you can save aswell as loan money,they do have conditions, but if you can show that you are a saver, they have a facility for small loans.i cant emphasise enough... dont use a credit card as a loan ,that would be a big mistake.
Last edited by MRBLUESKY on Thu Dec 29, 2011 12:30 pm, edited 1 time in total.
Yes. I must emphasise that my reference to a Vanquis card was to use as a credit builder only, NOT as a source for credit. Whatever you put on one of those cards MUST be paid off right away as the interest rates are scary !!!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Exactly Foggy, Ive a Vanquis cc and pay the balance off in FULL every month. I must admit I'm very impressed with Vanquis I've had no problems at all and their are a great way to build up my credit history, had 2 credit limit increases in less than a year it all shows well with the credit ref agencies
