after mentioning before that we had change of circumstance, we had joint debts of £100000 , had an IVA with step change but after two years could not afford the payments, after making an offer of £1000 each to our creditors they miraculously agreed an early completion and we are now debt free, no bankruptcy. What are our next steps to get clear credit record as having given up our house before the iva started we are renting but do need to get a house of our own within 5 years. Now i think is not the time to get back on the housing ladder as it is panic stations out there at the moment.
Once your credit reports are clear of iva and any defaults you can approach a mortgage broker such as Ryan or Shaun who post on the forum. You need to have a good deposit ..probably 15-25% .....various options to get you back on the ladder but using a broker should reduce the chances of getting declined.
Their contact details are on the left under ask the experts a question.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
It's not impossible but always best to wait until a clear credit file in my opinion. The IVA will drop off 6 years from date of acceptance irrespective if completed early or not. Get a copy then of all 3 credit files and ensure all defaults are removed and you should be good to go.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
