Posted: Wed Apr 09, 2008 10:51 pm
what happens after the 5 years is up on a iva are you able to get credit again ?
Hi bandv
Usually - but it might take a further year until the IVA is removed from your credit file.
www.iva.co.uk
The IVA community
http://iva.co.uk/forum/
are you able to get credit again after the 5 years
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Posted: Wed Apr 09, 2008 10:53 pm
Posted: Thu Apr 10, 2008 4:28 pm
How do you know...or dont you know in advance?
Posted: Thu Apr 10, 2008 5:27 pm
No you don't know.
It will also depend on the type of credit you are applying for.
It will also depend on the type of credit you are applying for.
Posted: Thu Apr 10, 2008 5:34 pm
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.
Posted: Thu Apr 10, 2008 6:08 pm
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.
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.
Posted: Thu Apr 10, 2008 8:30 pm
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.
Posted: Thu Apr 10, 2008 8:31 pm
thats what I was thinking. credit is a naughty word in my house!
Posted: Thu Apr 10, 2008 8:33 pm
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
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
Posted: Thu Apr 10, 2008 8:34 pm
credit - what credit 
) only cash aloud in my house )
) only cash aloud in my house )