Just after some advice from anyone with similar experiences.
I completed my IVA in April 2012 (with GT), but have yet to receive my completion certificate. It's been nearly 12 months, but I have had some communications from GT in regards to the mass variation that they are currently sorting out. I'm fine with this, as long as they keep me informed and try to resolve it as soon as reasonably possible.
However, I would like to try and start to build up my credit. Could I apply for a credit card to charge fuel on, so I can build up credit this way?
My boyfriend is also wanting to buy a house but want to apply for a mortgage with both names on (so we can take advantage of the 20% Help to Buy scheme from the gov't) - would this be possible?
I'm afraid that if it is delay for another year or two (as I've read on this forum!) then it would take even longer for me to build up a good credit record to be able to apply for a mortgage! I don't want to put my life on hold any longer!!
Hi. GT hold you to the terms of the IVA until they issue that certificate, so you will need their permission to apply for any credit.
On the mortgage front, it might be an idea to have a chat with either ( or both) of our resident mortgage experts, Ryan or Shaun. You can find their contact details by clicking on the "Ask a Question" tab at the top left and scrolling down past the info boxes to the experts details.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Foggy gives sound advice and am sure Ryan and Shaun will give you some great advice on getting a mortgage. Ryan comes highly recommended on the forum and has been able to help a number of forum members gain a footing on the mortgage ladder.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
whilst you have your IVA on public record your access to regular lending is a big fat no, full stop, end of. Even if you get a vanquis card or the like it won't make a jot of difference (well a few points maybe) to your credit rating it's that simple.
Your credit rating repairs itself instantly once you have your CC and your IVA is off public record along with any defaults. It works that way in principle, all things even cos of 6 years good conduct on your current account plus DD for insurance a form of credit anyway.
All things can be achieved, but many posters take the "no credit no way" and that includes the experts, till your IVA is clear and get access to regular high st lending.
