are you able to get credit again after the 5 years

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bandb

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Post by bandb » Wed Apr 09, 2008 10:51 pm
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what happens after the 5 years is up on a iva are you able to get credit again ?
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MelanieGiles

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Post by MelanieGiles » Wed Apr 09, 2008 10:53 pm
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Hi bandv

Usually - but it might take a further year until the IVA is removed from your credit file.
Regards, Melanie Giles, Insolvency Practitioner
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Rachael24

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Post by Rachael24 » Thu Apr 10, 2008 4:28 pm
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How do you know...or dont you know in advance?
Recent college graduate with a debt negotiation concentration.
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Storm

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Post by Storm » Thu Apr 10, 2008 5:27 pm
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No you don't know.

It will also depend on the type of credit you are applying for.
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Viki.W

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Post by Viki.W » Thu Apr 10, 2008 5:34 pm
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This is probably a silly question, apart from the obvious:- loans, credit cards, mortgages (which I never ever want again!) What other applications etc will be affected by an IVA. I remember reading something on here about a mobile phone contract. Just wondering so I'm not shocked in the future.
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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Storm

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Post by Storm » Thu Apr 10, 2008 6:08 pm
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All forms of credit will be effected - you will find some credit providers less bothered.

It is helpful if during your iva you are with a bank that reports to the CRA's - this will show money in / money out. Post IVA try getting a small limit credit card and again pay it off in full every month - eg use for petrol then each month pay off.

Things that don't help build credit profiles include communications and catalogue / book clubs etc (despite what some of these online reports say)

Mortgages are a little easier to predict as they are criteria driven.
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fedup and broke

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Post by fedup and broke » Thu Apr 10, 2008 8:30 pm
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Sorry if this offends anyone - but apart from getting a mortgage - why would you go through 5 years of budgeting and getting yourself out of debt, to then be trying to get more credit at the end of it all.
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angela18

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Post by angela18 » Thu Apr 10, 2008 8:31 pm
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thats what I was thinking. credit is a naughty word in my house!
Ang.. 13 payments in.. WOW, thats over 20% paid!! http://angela18.blogs.iva.co.uk/ well here we go

if you wish for a rainbow... then you have to put up with the rain xx
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Adam Davies

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Post by Adam Davies » Thu Apr 10, 2008 8:33 pm
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Hi
The reality of everyday ife is that a credit card is handy.I am out of my IVA now and have one credit card,the difference now is that I only want ONE card and I'm not interested in what colour it is
Regards
Andam Davies
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fedup and broke

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Post by fedup and broke » Thu Apr 10, 2008 8:34 pm
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credit - what credit :o) only cash aloud in my house :o)
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