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Posted: Tue Jun 14, 2016 12:42 pm
by spurs
Hi all, another question i have! Please can someone explain this 6 year thing, my iva started in oct 2010 and was paid off in may 2016. Do i have to wait until October until my name comes off the register or until I apply for a mortgage? Cheers
Posted: Tue Jun 14, 2016 12:45 pm
by kallis3
Your name will come off the Insolvency Register within three months of them receiving a copy of your completion but make sure your credit record is clear before applying for anything.
Speak to Ryan or Shaun in the meantime for info on a mortgage.
Posted: Tue Jun 14, 2016 12:52 pm
by Foggy
You come off the Insolvency Register within three months of getting the certificate of completion. But, your IVA and the defaults stay on your credit reference agency files for 6 years from their start dates.
You do need to check that the defaults have been dated correctly.
Have a read here:
http://debtcamel.co.uk/repair-credit-record-iva/
Posted: Tue Jun 14, 2016 2:42 pm
by Lisa Thomas
Have you had your CC yet?
1. You will come off the register within 3 months of receiving your CC.
2. You cannot begin to clean your credit record up until a) you have got your cc, b you have come off the register and c, 6 years has passed from the start of your IVA.
So October 2016 would be your earliest date for defaults etc to drop off but only if your CC has been received by then and you have come off the register.
Clear as mud?!