www.iva.co.uk

I have settled my iva August 05.Can you advise on how long the settled iva will affect my credit rating. I'm in the process of switching my mortgage and am being told that I can only look at the sub prime market. Can you Help as I am being told its 6 years after the Iva was settled

Hi,
I am sure one of the experts will answer you question completly, but I believe the IVA stays on your credit file for 6 years from the start date, and not the date it was settled, did you settle your IVA early or after the normal 5 years?

Cheers, Mark.

IVA accepted, so 60 months to go!!

My one bit of advice, if I can do it, so can you!

View my IVA story blog at: http://sopty.blogs.iva.co.uk

phil-j

Although you settled your IVA in August 2005 it will be on your credit file I think for 6 years after. Don`t despair about what you term sub prime market as the rates being offered at present are in some cases as good as high street products by some of the lenders. Your rate will reflect your personal circumstances after a search is done on you. Hope this helps-Tony

Hi Phil, I'm pretty sure that the IVA stays on your credit file for 6 years from the date it was agreed, not the date it was settled.

Onwards and upwards!!!

View my blog at http://skippy13.blogs.iva.co.uk/

The IVA flag does remain on your file for 6 years from start date.

The IVA flag is always present on your file for 6 years from the point of inception regardless of whether you pay 60 monthly payments or finish your IVA with a full and final payment.

I would also agree with Tony that you shouldn't be too concerned about needing a "sub-prime" lender. Mortgages are secured loans and as such having a bad credit won't necessarily preclude you from receiving a competitive rate of interest.


Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Storm ,can you answer a question for me,i got a copy of my credit file on line from experian,if you have read my posts you will see i failed iva after 4 days that was 6 weeks ago,the ip sent letters of non compliance to all creditors,immediatley.
On my file it states date of iva 21/2/07
then uderneath this if states iva completed 03/03/07
then iva satisfied,07/03/07,then ive had some strange letters telling us our account is now closed and no further action will be taken,only 2 creditors have contacted us,and that was strange as when i told them iva had failed and offered token payment they werent aware of this.
It just seems very strange,any ideas,sorry phil to jump in on your post,i to thought it was 6 years from the start date

phil, it remains on your credit history 6 years from the start date of the IVA.Also, glad to hear your's was completed. Please continue to post. Your tips may be invaluable to someone in an IVA.

Take care.

All I have left is my humour.