www.iva.co.uk

Dear Readers, I am due to finish my iva in September and Thankfully due to this amazing site I have got through it with no problems.
My question I would now like to know is this.. Naturally I would like to get my credit rating back on track asap and have thought about getting the cash builder plus to help with this.what I dont know is, should I wait until my iva is complete? or would it be a good time to purchase the card now?.Does anyone have any proof that this really works?. I would really appreciate any feedback.
Many Thanks

hi, I'm sorry I can't answer you post as I have no experience about this but if we wait I'm sure someone who is familiar with it will be able to respond. x

Thanks for the reply Lesley, im really hoping someone will reply with an answer soon.

I'll keep it bumped up for you

I assume this is the Cashplus scheme.

I started it slightly before my IVA was complete though whether you should do it after completion is a question as technically you've taken credit of £50 but you never actually have the £50.

You could also argue that by taking it straight after you complete your IVA it would mean that the last positive report from them should coincide with any remaining defaults dropping off.

I now have monthly positive reports against this account so I can confirm that it does get reported on your credit file.

Whether it is making any difference at the moment is impossible to say but hopefully this alongside Vanquis, Mortgage etc all with 100% positive reports will help as my defaults start to drop off from September through to December.

Thanks for the advice.. Thats what I was hoping to be honest although it would still be good to hear from anyone alse who has done the same.. The thing was, I wasnt sure if I was supposed to wait to get this card until after the five years or apply on my fifth year as you mentioned ie to coinide.

The same here - we have had it for over a year now and it has been reporting every month - does the job for us !

Hi Liz,
Thanks for the comment.. but can I ask you, Did you get the card after your iva was complete or during it?

I think she got it afterwards.

I applied a month after the certificate had been received ......I have since applied for a high street one and been turned down, so for now the cash builder does us fine ! We don't need credit anymore - use simply to add ?100 to it each month and then once every two months we use it to pay for fuel for one of the fill ups - otherwise it sits there as an emergency fund...wouldn't want to load any more than a ?1000 to the card just in case as no security if the card is used incorrectly or stolen etc.

Thanks for letting me know.

Sounds like it does the job then and I something I could consider myself. x

Sounds like it can't do any harm! Best to ask your IP though if you plan to open an account before your IVA is complete and you have the certificate in your paws. x

Hi Can I ask what bank you applied to on the High Street? just worth knowing really.

Hi,which card did you appy for? just out of interest!

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by luluj

I applied a month after the certificate had been received ......I have since applied for a high street one and been turned down, so for now the cash builder does us fine ! We don't need credit anymore - use simply to add ?100 to it each month and then once every two months we use it to pay for fuel for one of the fill ups - otherwise it sits there as an emergency fund...wouldn't want to load any more than a ?1000 to the card just in case as no security if the card is used incorrectly or stolen etc.