www.iva.co.uk

I took out an IVA 3 1/2 years ago now, shocking for those that remember me asking about it and getting it eh?

I did a full and final about 2 years ago, so everything is off my file apart from the fact that I was in an IVA which I realise is a big thing.

I have been using the Vanquis card to rebuild my credit. But we are desperate for new windows, 2 panes blown, a gale blowing though a couple, it's quite bad! However I just went to my bank which I thought was possibly the best bet and was refused.

I'm obviously not going to try again. But do I actually have to wait for another 2 1/2 years for the IVA to come off to start to get any kind of borrowing?

I'm in a much better place now, earning regularly, just about to get a raise and would like to start addressing long overdue issues like rubbish windows and maybe going from interest only mortgage to repayment.

Is there no hope? DO I need to wait 2 1/2 more years yet?

Have you approached your local credit union ?

You might be able to get a secured loan although I think the minimum is £3,000. Then in 2 1/2 years you could then remortgage the lot down the high street and find the rate and term to suit.

You could also think about joining a credit union who take a different approach to borrowing and in some instances they do not even run a credit check.

I don't think there is an easy way out of the six years but at least there are still some options available.

Thanks both, I've never heard of a credit union so I guess that's a start. That's fine on the minimum cos the windows and doors will be £6000, but I can get the front done for £3000 which is the most urgent! Thanks for all your help. The next 2 1/2 years will go quickly I'm sure but it's frustrating when you've sorted stuff but it's still there on the record.

Still I must say the best decision I ever made was going into an IVA just in case anyone is having any doubts! It turned my life around and I learnt to budget, borrowing money now scares me, which it should!!

Hi

Does the window company offer it's own linked finance company ? may be worth trying this route if the credit union option is a no go

Regards

I know Shaun Vickery has access to secured loans for those in IVAs so perhaps they offer them to post IVAers too. Worth giving him a shout if you need to go down the secured loan route.

Also good idea of Andy's because if the window company want the sale they may be able to source the finance for you.

The credit union option is probably not suitable as it takes a little time to build up a relationship with them and to able to borrow that kind of money. Still worth opening an account anyway for the future.

The window company is highly likely to have an associated finance company but I'd be surprised if they would consider it at this stage in your credit revival. Michael may be right, it may need a staged approach if you are keen to do something now.