www.iva.co.uk

Hi I entered into an iva in aug 07 I completed early in aug 11, the iva was only in my name, my husband now needs a small loan to purchase a car/van to get to work as our car has now given up.. Could you advise us on companies which could help us, my credit rating should start to improve this aug as I'm assuming the iva will be wiped off as it ill then be 6 years.. Please advise

As the IVA was in your name - you may find your husband is able to obtain main stream lending at lower rates - it may be worth you husband signing up to creditfix (free trial) to have a look at his credit file - prior to applying for the loan in his name

Id have thought it would be easier to get finance on the vehicle over a personal loan, as the company have the insurance of having the car back if you have defaulted. Some car dealers use the likes of Creation and Close Personal Finance.

Chris

Sorry that should be "checkmyfile" - tri report credit agency

Stoney Broke your husband should be able to get finance from a car dealer. My wife isn't in an IVA and she was approved by finance with MotoNovo via a dealer (Quicks - No recommendation made or implied)......finance wasn't cheap but was a necessity.

My wife (who doesnt have an IVA) has had no problem obtaining credit whilst I've been in a IVA, so your husband shouldnt have a problem if HIS own credit score is good. In my case, there is also a financial link on my credit file linking me and my wife and even that doesnt seem to have caused any issues.

Thanks the personal loan was refused, so we will try finance.. If not are there any companies who offer personal loans to people who have completed an iva?

There are ! - moneybarn is one of these companies - but the APR can be quite high