www.iva.co.uk

hi all,

im in process of clearing up credit file and all going very well . 3 CRAs have removed iva off report so its all now looking good ..... long may it continue. however , looking at uprading bank account , not for overdraft or credit cards linked to bank , just for chq book, debit card etc . now a question keeps popping up , words to the effect of
" have you been bankrupt or insolvent within past 6 years "
now depending on how you read question , YES i have been in an iva over the last 6 years, or NO because i went insolvent over 6 years ago ! so which is right answer. iva started nov 2005, ended nov 2011 ( thats been the 6 yrs )i have no problems disclosing the fact and certainly would not pretend that it didnt exist .... does that make sense. opinions gratefully recieved.

on the plus side david mond and his team did fab job, iva wrapped up , off insolvency register within 2 weeks of last payment and certificate in my paws . within 5 weeks iva also off CRAs. no defaults or anything showing .
so to all of you starting out , can be hard slog at times but its worth it at the end, so dont give up, the dark days arent half as dark as what we all found ourselves in before ivas !!!

If you are over the six year limit then you can truthfully answer no. Your six years are up.

thanks Jan, have striggled with it and answered it with a yes , thinking along the lines , 2 months ago i was insolvent , but the more i have thought about it, the more i have pondered the answer. thx .

havent striggled !!! should have been struggled ! lol

Personally i would answer no to that question because your six years is up from the start of your iva,but you would need to make sure your iva has dropped off all three credit agencies.Great post Molly well done and happy debt free New Year.

yep , im now as clean as a whistle ! i also intend to stay that way ! got new job today !!! macmillan nurse, been ward sister for a while but now moving on , its going to be a good debt free year .

Congratulations on the new job Molly - good luck for the future and do keep posting.

Well done on finishing the IVA and getting the new job!!

You have never been bankrupt, an IVA is different.

The question would be referring to the time you were declared insolvent which was over 6 years ago.

If I was asked if I had ever been bankrupt I would say no, legally it is different from an IVA. I would only declare it on a job interview if it was current and they were going to do a credit check as it would be better to b open from the start

It's all in the wording of the question, chek it carefully, some say bankrupt, some say declared insolvent.

You can truthfully answer no to bankruptcy but do agree that you need to check the wording carefully.

If it's over the six years then you can also truthfully answer no.