www.iva.co.uk

Hi,

I have successfully completed my IVA 1 year early and have received my Ceritificate of completion - a great relief! As I have basically put my life on hold for the past 4 years, I am looking forward to the future!! I have had to keep my old banger of a car running for the past 4 years which has involved untold expense , now I am in a position to be able to purchase a newer car which I want to do, I could either spend the next 12 months saving (unrealistic if I think the car has even 6 months life in it!) or attempt to get a small amount of finance to buy a car. Does anyone know what the situation with this is?? I was told my credit file will show the IVA from 6 years of the original start up date. I have already sent a copy of the completion certificate to 3 credit reference agencies to ensure my file is updated. If there is no chance at all of me obtaining credit then I guess it's plan b... a push bike for me LOL!!

You should be able to finance a vehicle but you are likely to have to pay a higher rate of interest due to your credit status as the IVA will appear on your credit file for 6 years from when the IVA started regardless that the IVA has been completed or not. Shop around and make sure that you do not end up paying 40% APR.

Might want to consider leasing a vehicle.

Congratulations on finishing your IVA and good luck for a debt free future xxx

Great news and well done for completing your iva.

Ang

Hey TSimner, congratulations on completing your IVA, you must be over the moon. If you want to look into leasing a vehicle, one of the forum members used www.secretariatservices.net Worth a try. X

Well done on completing your iva TSimner. What a relief it must be.
Enjoy your debt free life.

Well done on completing your IVA - can I ask did you offer a F+F to complete 1 year early?

Julie x