www.iva.co.uk

hello,started my iva in 2009, i made my last iva payment in feb 2016, recieved my completion certificate 6 weeks later, my name has been removed from the insolvency register, i have checked experian,call credit and equifax and all have excellent scores and no record of my iva, just want to know if i apply for a loan would i be excepted?

Hi,

You may be ok but just be aware not to make too many applications as it will impact on your credit record.

It depends on your financial circumstances, how much you want to borrow, over what term and the criteria of the lender. Not something we can answer I'm afraid but the fact your credit rating has been tidied up should make a big difference.

Of course I can't resist mentioning to take care taking out more credit now that you have got yourself out of debt...

What positive things are on your credit history? You can have a great score but still not get credit due to having little for lenders to base a decision on.

Paul

Some people recommend taking out a credit card with a small limit and paying it off on time every month to start building up a history again.

I think Martin Lewis' website and one or two of the credit reference websites (noddle and clearscore) have a soft search facility that may give you some idea of your chances. It won't muck up your credit rating.

A lot of the credit card companies do soft searches these days.