www.iva.co.uk

Hi
I completed by IVA last month, I have just had a look at my credit reports, just to check that the default dates are correct and noticed that the credit scores are so different.

Experian gives me a score of 900, whilst Equifax gives 300 ( which seems more realistic) both reports are virtually identical except Equifax has one more default creditor listed, but surely that wouldn't equate to such a massive difference. I am awaiting my report from call credit.

Does anyone know why the scores would be so different?

The scores mean very little.

Paul

plasticdaft wrote:

The scores mean very little.

Paul

Are you able to ellaborate on this Paul?

I think Paul means that when creditors see the iva on file, they will be reluctant to lend irrespective of your credit score. And when the iva drops off, they will be cautious because there is little to demonstrate a good credit history.

I think each company has their own way of scoring anyway but BOL is correct, the IVA will show on the file for six years so you are unlikely to be able to get any credit until then.

The one thing you could try if you are anxious to rebuild your rating is something like a Vanquis credit card, high APR but if you pay it off each month it will all help build things up for you.

Sorry about my short answer,it was a hard day yesterday!!

Paul

We all have them Paul!!!

Can you have a credit card whilst on an IVA?

While you are in an IVA then no, you can't. Once you have finished then you can apply for one.

Thought as much, not that I'll ever want to have one again!

Weird thing is that my IVA only appears on my Equifax record, along with my 13 defaults, whereas Callcredit and Experian don't have either! (both electronic and paper versions)