www.iva.co.uk

Hi all

Just a quickie [:D]

You know how you have to be 6 years clear before you can attain any credit (dont worry...ive not got my eye on several credit cards...im more thinking mortgage!!), Is it 6 years from the IVa start date (mine being 24th april 2007) so my IVa will drop of my CRA file april 2013 or will it be 6 years from the completion date (when ever that may be?!?!?)

cheers ears[;)]
Arty[:X]

Hi

It'll be 2013 that it drops off or there abouts.

Hay Gizmo

I know, just trying to guage when in 2013, big difference between april and october.

arty

Hi

It should drop off end of April 2013

Regards

Fingers crossed for you Arty. xxx

I have just put a post up on this very subject "ohh what to do post IVA" rather than repeat it My iva was six years old on Saturday and I have sanitised (I like that word) two out of the three in just a few days and a few phone calls.

But overnight my reports have gone from non starter to four out of five stars as a lending bet

I reckon it's because the only thing sitting there is my nationwide current account with no overdraft it get's stright A's for the last six years!

6 years from the start of the IVA it will drop off in the even the IVA is marked as completed.

Then you'll find that the banks will ask the question "Have you ever entered into an arrangement with creditors" to which you'll be required to answer Yes FOR THE REST OF YOUR LIFE.

This then puts you at a disadvantage for any PRIME INTEREST RATE, LIKE THE REALLY LOW RATES BEING OFFERED BY HSBC.

You'll pay above the odds, often having to use a whole of market broker cause your bank wont touch you. Or they wont touch you until X number of years after COMPLETION. Then the rates are not going to be the best I bet.

TheMatrix, That is the bit that annoys me and if you try your chance and answer 'No' and they find out later you could be in real trouble.

I guess the only solitude we can take is that we can pay any mortgage off quicker than so called good customers as we have no other credit debt.

Overall maybe probably works out in our favour if an ex-IVA can complete a mortgage in 20 years rather than 25 even though paying a higher rate. Not done the math on that yet.

Thanks for the info and thought you lovely bunch of people! [:D]

I agree too with the above, i thought before i started the IVA it was less corrosive than bankruptcy on my future but evidently its something that’s always going to rear its ugly head for the rest of my life!