Oh, the Vanquis search IS showing on my credit report now. I still don't know what to think. Here is this from their FAQ
"How long will it take to get a decision?
If you apply online you should hear from us in 10 -14 days."
I am a bit worried because on the application from you had to put the time at current address. I've been there 18yrs 8mths, which is what is stated at the top of my Experian report, but the only option on the Vanquis online form that fit was 11+ years. Yet on the Vanquis search on the Experian report it shows me at the address 11yrs 8mths.
I am really afraid that I will get turned down for something as asinine as that, I am NOT committing a fraud, how can I help it if their form is limited?
PS, how can I add the text "IVA completed" under my avatar? I cannot find how to do it in my profile.
I hope you do get accepted - I think it's a case of 'wait and see' now. Got fingers crossed anyway.
As to your avatar, if you go into your profile and put down the date your IVA started then it should come up and say completed as you have finished.
If not, come back on and let me know.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Fingers crossed for the card and I do hope that you don't get rejected on something so silly!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Right, I just checked my score again. This time it has been clobbered down from 771 to 736. Still just in the Fair category. Better not make any further applications for the next six months.
They haven't rejected you yet so let's hope it all goes through ok.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I think that there is a pretty clear signal that I would be far better really, if I am rejected, waiting until I have sorted all the defaults out before I go for the big one, the car loan. According to the little tool on the Experian website, if I do things like repay all my payments on time, especially clear my credit card balance (if I get one) and don't have too many credit accounts/applications, ie not owe too much, I can get my score up to about 876 which is very close to Good.
I know it has a high APR, but if you were looking at a car loan you could do worse than try Duncton. They are very IVA friendly. You'd need a decent deposit but they will accept you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I have a cousin who is willing to give me a £2000 deposit, note as a gift. So, what I plan to do over the next few months while those ole' defaults are dropping off is to save and stoke up my bank account to show that I can afford the payments (I think Duncton ask for bank statements) and then approach a car finance firm like ACF or Duncton.
At the moment I don't have a deal left over by payday as - sods law isn't it - directly I had finished paying my IVA, my TV blew up (and I needed a digital enabled one as we switch over at the end of this month in my area), my computer needed some new parts and my car decided to be a money pit. But a lot of that is one offs, and now I can start having money in the bank.
It is sod's law - totally agree! At least that is sorted so you can concentrate on getting a new car.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hello all - hope you are all well? I have been following this post with interest and wanted to add my 2 cents, for what it is worth! I finally received my certificate of completion on the 5th March (a mere 8 months after my F&F was accepted - please sense the sarcasm and pure disbelief in the inaptness of DFD) I immediately wrote to all my creditors, enclosing a copy of the COC, asking them to amend their default date to the date that my IVA was initiated, which was 01/12/2009. I also requested that they marked my accounts as satisfied and that there was a 0 balance on my account now. I have also asked Credit Expert to help me insure that my account is up dated as all of my creditors have dates defaulted as later than the IVA date and I am extremely keen to see them all drop off post 6 years.
So far I have only received 1 positive result saying that they will update their records, one letter that has said that they have received my request and will inform me of their decision in 90 days!!!! And the best of all - the insolvency unit has apparently yet to receive my COC from DFD (obviously I am not surprised as they have been as useful as a chocolate fireguard throughout the whole process) I have however checked the insolvency register today after sending my 100th email since July to DFD on the 15th and as long as I am doing it correctly I think my name has finally been removed.
Can I ask what legal standing we have for these details to be corrected? What happens if my letters and the credit expert contact goes unanswered? How long do they have to update their records? To save the pennies I have now cancelled my membership with credit expert and will resign up in a couple of months to check where things are up to.
I have read on here that notices of correction should be avoided however I was told that it might help me to put one on mine as it prevents automatic credit checks and their decisions being completed (I am looking for rental properties and when they credit check me I want them to see that I have actually completed my IVA and I am now debt free instead of them just making a decision on the automatic response - hope that makes sense) What do you think? Was this good advice?
I am such a worrier at the best of times but trying to get my accounts in order is driving me to distraction!!
Finally , now that my IVA is completed, albeit via a F&F, and I believe I am no longer on the insolvency register is now the time to try to rebuild my credit score with one of these rebuilder cards? Or should I wait?
Lusso - you IVa although complete will show on credit file for 6 year in total - then it will automatically drop off. Your doing the right thing about sorting the default dates out. You may find that you will still need a large deposit for rental (or even 6 months in advance)
Even when all you default/IVAs drop of your credit report - credit will not be automatic - as you will have had 6 years without any credit.
Thanks Ginger. I know that it's 6 years before it drops off but given I have completed should I try for one of these credit builder cards (I also know that that is an application and not a certainty but it means if the application was successful it would show that in the next 4 years I would have had a credit facility that has been perfectly managed) With regards to the rental does anyone know whether I would pass a credit check now that I have completed? Do they do a full check or do they just check that you aren't on the register and you are who you say you are? I don't want to incur the cost associated to a credit check if I am definitely going to fail. Also as this would be the first home that my partner and I would be renting together I just want to check that he wouldn't be adversely affected. He has perfect credit!!!
May be worth checking with the renting agency etc - explain your situation - you may find them understanding. you partners credit history wont be affected - unless you have joint financal arrangements( joint current account etc).
Dont forget to make sure your on electrol roll etc when you move, perhaps a cheap contract for the mobile phone
Again it is up to you if you want to try for a credit card - pay off monthly though as interest rate is high (limit small).
Let us know how you get on - oh it is exciting - new life /new house etc etc
Hi Lusso1979, wow you are having a lot more trouble even than I am. You need to be a bit like a dripping tap with your creditors and keep hounding them. I have actually found that Credit Expert have been quite helpful and between us we have managed to make some of the creditors mark the entries as satisfied. NatWest credit card say they are going to do it by the end of this month, and Credit Account Management are hiding and have not yet responded.
That leaves NatWest loan and current account, and two accounts with Clydesdale Finance, that have default dates in 2006 rather than 2005, and I need them falling off in the autumn of this year when they should as my car is a certain MOT failure next Feb. They are going to have the big guns turned on them using the sample letter provided by TheMatrix in this thread
Lusso, I suggest you try that letter, it does not mince words and reminds them that they are legally bound to make sure that they record correct information about people and correct it when it is wrong.
