6 months after iva

[mofr]

6 months after iva any credit card avaiable
to start to repair credit rating cheers

[scaredkez]

why on earth do you now want credit after working so hard to get rid of your debts,sorry not having ago but the last thing i would want would be a seal of approval to go back down the slippery slope that led me to where i was before!!
i know some people want to repair their credit history, but has your iva not taught you something? try to save and not get in this position again, i am not being funny but try other options before you opt for credit
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[MelanieGiles]

Good sound advice there from Kerri, but if you do want to apply for a credit card I am sure that there are several lenders who would oblige. Try your own bank first, as you already have some credibility with them, but only ask for a minimal limit of say £1,000 and keep the card for emergencies only.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[kit]

Hi
I didn't read MOFR's message like Kerri did. When my partner and I finish our IVA in 4 yrs time, after the 1 'clear' year whilst it still remains on your credit file, we also plan to try to get a credit card to start to rebuild our credit file - as we have been advised that 'NO' history on our credit file is equally as bad as a rubbish credit history. I had previously said I never wanted to see a credit card ever again, but we only plan to get say a £500.00 limit and hope by that time we should have 'grown up' enough with regards to money management to not let it get out of control.
Kit

[MelanieGiles]

It is a fact of life that we live in a credit environment, and most people who have been insolvent do not become repeat offenders, in fact they become very careful savers! I keep in regular contact with a few of my old clients, whose IVAs are long concluded, and they happily use credit now very responsibly. Of course this does rely on the individual to be honest.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[mofr]

hi
Thanks kit that is what i was told . Could Melanie name any lenders please

[MelanieGiles]

Sorry - I can't make direct recommendations about credit providers. Perhaps Storm or Andy could help here?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[ian]

Hello i,m sorry i havent been on here for a while,been very busy with work.

As for getting credit, i have no intention of getting credit ever again, especially after paying my IVA for 5 years,when that finishes all the monies i,m paying into my IVA now will be mine, so i should not need credit.

In fact i hope my credit rating stays poor even after my IVA has concluded,then at least i cant get into debt again.It really makes me wander why people want to get credit either during or after the IVA.

I,m sorry if this is too long, but i just cant believe some people.

Regards

Ian

[mish1953]

Ok I think that I get it .. improving your credit rating can help to get a mortgage .. if you want a mortage , I dont as Im too old , but I can see that an improved credit rating could be useful.
BUT it will take great self discipline to make sure that no debts are incurred.
I cant get any credit - Im BR - dont want any, and want to live the old way - save up and then buy, that way I get the interest while saving and dont pay any interest to creditors.
If I need a credit card I'll go for one of the pre paid ones.

Good luck
Mish

[ray_a]

There is no way i am ever going to get a credit card again in my life.

I don't need one now anyway i want to stay with the people who have supported me and my family over the years of difficulty.

The only credit I will get is for a car and a small mortgage when I am ready to do so.

[mofr]

hi
Thats ok ian but you cant save for cars houses or emergencies

[aguise]

I think you can save for these things I personally dont want a mortgage, but you still have to save a deposit, and our next car we will save for. Emergencies the same if you are not paying for debt or your iva anymore you can put all that disposable income for those things.If I didnt have the iva I could save £1500 every three months that soon adds up to a good emergency fund. I feel if I can survive the next four and a half years without credit then I just dont need it.
I am not knocking anyone though if you want to repair your credit why not, I just dont feel I will need to. Debt has caused us misery for years I am not going back there if i cant afford i wont have it , thats it.

Ang

[ian]

Hello Ang.

I cant really say anything to your last post, because i agree with everything you say.

Regards.

ian

[hara]

Dear Mofr,
Why dont you get one of those pre loading cards.That way you know that you are using your own money.

Also why do you want a credit?

Save and spend.
hara

[Sensible77]

Buying things on a credit card does have its benefits. You can get better consumer protection for things bought on a credit card than by cash or debit card. If you are disciplined enough, you could buy it on a credit card and then pay off the credit card in full. However, I'm sure we've all thought we could do that and before you know it; you're going down the slippery slope again! I’ve just made my first IVA payment so have a long way to go, but getting credit again after my IVA has finished doesn’t appeal to me at all. Not having statements, demands, new offers etc coming through my letterbox anymore is a great feeling.