www.iva.co.uk

Hi, should be completing my IVA in September. I have kept up payments and no equity issues as I rent. How long will the IVA be kept on my credit score and is there anything I can do start trying to build up my credit now or will I have to wait till I have the completion certificate. Have requested a credit report. Thanks

Your IVA will be on credit file for 6 years - from start of IVA. nearer this time check your credit report to ensure no defaults are registered after the start of the IVA, you will need to provide a copy of you completetion certificate, to query any wrong entries.

You credit report will impove slowly (there IS NO Quick way) - some people obtain a creit card /mobile phone contract etc to help impove the credit score

Hi giselle and well done for almost getting to the end of your IVA. As ginger says it's 6 years from date of acceptance.

Some posters get a credit card that is offered to people with not such perfect credit records but they have high interest charges, but that shouldn't be a problem as if you pay it off in full every month and use it to just help repair your credit file.

You can start clearing your credit file as soon as you get it, but it's advisable to wait until you get your certificate as at that time you can get the whole lot amended, such as Settlement dates, outstanding balances - ZERO!!!!, and correction of any default dates.

I got hold of mine, Santandar have defaulted me 3 months after the start of my IVA, the debt has been sold onto Max Recovery. All other debts sold onto max are being recorded by them, but Max have not reported on this one, it's still registered with Santandar. I suspect that I can get them to remove the said default as they do not own the debt, and now the last payments has been made and it's paid off I don't owe them anything now anyway. But just waiting for the certificate to confirm it.

Totally agree with TheMatrix.

Hi we received our certificate in February and Iwrote to all our creditors and the credit reference agencies. We are now almost showing as satisfied on all defaulted accounts with the start date of our IVA and are no longer listed on the insolvency register.
As others says it won't quicken the time for it to totally be removed - but it does read better as satisfied and completed with no outstanding balances on !

Giselle - have you checked the Insolvency Register to make sure that you have dropped off there?

Unfortunatly creditors don't see it that way, satisified default is just as bad as a default in their eyes. So until such time it drops off you're stumped.

Still I agree it does look better, when the balance is zero and it shows as settled.