www.iva.co.uk

Whats the chances of getting a bank loan after a finished IVA ( 6 years )

im currently with nationwide basic acc, But looking to upgrade to the Flexplus asap really as soon as im eligable, the question is, would banks consider you for a loan given the circumstances of been in an IVA. im thinking of doing this for a new car rather than finance?

Lee

Nationwide would not upgrade us until the IVA was clear of all records. You may be eligible for a loan - Nationwide do a soft search so it doesn't impact on your credit record if you are turned down.

Wait until the IVA and the defaults are off of your credit files, then you are good to go. In these unpredictable times even those without an IVA have to worry about being accepted, so don't go overboard ... start slow and build up a stable history. The longer you can last out the better deals you will be offered.