www.iva.co.uk

Silly question probably, but how long do I have to declare that I once had an IVA?

Reason I ask is I'm actually looking at getting a mortgage in the next couple of years and if it's 6 years post IVA do I still have to mention it?

I've seen an advisor and he stated that if the paperwork states have you ever been declared bankrupt I wouldn't have to state it, but if it states have you ever been declared insolvant (I'm guessing thats the term if you've been in an IVA) I would still have to state it, even if it was years ago?

You've been advised correctly as you should give an honest answer on any legal paperwork and answering incorrectly would invalidate the mortgage agreement if you were found out. A whole of Market broker should be able to advise who puts this question on their application forms (not all lenders do). Xx

Thanks Broke, fully intending to be honest, but the broker actually said to me "oh... don't mention that"... which made me rather suspicious!

Most forms have been updated to include IVAs now... until a couple of years ago many people didn't know what an IVA was LOL!

Many forms do ask about insolvencies but why would it still need declared 10 years down the line? There wouldn't be any record of it. Seems like a potential life sentance which an iva isn't meant to be!

Paul

Hi - Its a difficult one to answer - as it would depend on who was asking (ie bank - they may have their own data on you) the same question arose when we applied for a mortgage - i truthful answered yes, thankful Bank of Ireland came back to us as mentioned they would not be able to check this,(due to time lapse) so they would remove it from the application form.

I suppose in this day and age more companies are sharing data, to help reduce risk - you can not be 100% certain.

As mention on here people could not condone "untruths" - but the decision to disclose has to be let to the individual.

Hi s.b.w,

On any forms it should ask you for example: In the last 5 years have you been declared Bankrupt or other Insolvency Solution. However it could vary between lenders on how many years it would ask for.

I think sometimes that some forms ask if you have ever been insolvent or bankrupt and I do know of one poster on here who was bankrupt over ten years ago and still answers yes if asked on any form.

It is down to the individual what they put down and at the end of the day they can only be refused.

The way these forms operate they ask if you have ever made an arrangement with creditors, well if you're truthful you'd have to answer Yes to that until the day you die. At least with a life sentence you're out in 25 years (and may be sooner)

My hubby often says we've been married 24 years - if he'd murdered someone at around the same time, he'd have been free by now!