IVA complete, But....

[Devilish]

Hi Folks,

After my last thread with my IVA issues, it appears complete. (Which im enjoying!)

But i have issues. Im looking into buying a new car (70% cash, 30% finance) and have moved suddenly into fair in equifax's credit scoring system. (already have had a credit card for 3 years in the IVA regularly paying and Platinum account, lloyds tsb.)

Im past 6 years now, so my CCJ is off my account with equifax, and all my defaults (last fell off today.) I can never find any good advice despite me wanting the best deal for myself, and wondering if anyone had any opinions on the likelihood of getting credit, despite my account and savings moving in the right direction?

Thanks,
Richard

[Broke of London]

It doesn't sound like there's anything stopping you getting credit for the car. I'd go to a mainstream lender first and then a bad credit lender if you have no joy with the former. xx

[Devilish]

There may be one problem I have though, two defaults from Natwest, after my IVA started (may 05) and these defaults were put on in Nov 05 (although both are marked as settled.) does this pose a big problem?

[luluj]

I would think you will be ok - as others have said try a mainstream lender first. If you send a copy of your completion certificate to natwest they have to amend the default date to the start of your IVA and this will remove and clear your file regularly.

[danieln]

Did you say you had a credit card during your IVA?

Was this just to build on your credit rating, even though in the IVA?

[kallis3]

You certainly should'nt have had one whilst in an IVA.

[MrsKnight]

Obtaining credit whilst in a IVA is certainly a breach of the agreement, unless authorized by your IP.

[kazzafunk]

Makes me shudder to think of a credit card now and I'm not in an IVA!! The staff in Jewsons looked at me as if I was mad when I offered them cash last week. I love it when people ask you what card are you using and I can answer - cash please! It shows what a world we live in when they hate taking cash as the bank charge them so much to bank it....madness!

[TheMatrix]

Your default dated November 1995, though marked as satisified, is just as bad in the eyes of a potential creditor.

You'll need to either get it removed, or wait until it drops off in November unfortunatly.

How did you manage to get a credit card whilst in a IVA I don't know, did Lloyds do a credit check?

[kallis3]

I can't see an IP authorising a credit card somehow!

I think I'd probably wait until November when it will drop off anyway. By the time you've written to creditors and told them to remove defaults, it's unlikely they'll do it straightaway. If that's the case then it's not worth worrying about now.

[MrsKnight]

No, but they can authorize a client to apply for credit in extreme circumstances of course! then thats if you can get credit!

[TheMatrix]

I think even if your IP authorised it, you'd have problems getting it anyway as you say.

[kallis3]

They certainly wouldn't authorise a credit card!

Fixed credit would be a possibility if you could get but that would be about all.

[MrsKnight]

I would not want a credit card being authorized!