Completed IVA 7/12/2013

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Mj1981
Mj1981 Posts: 16 Forumite
just have a quick question and hope im putting it in the right part

We completed our IVA with a f&f on 7/12/13, and received our completion certificate shortly after.

We are now looking at moving house and there seems to be some confusion about when our IVA was 'discharged' one mortgage company have told us it will be discharged from the date of completion so 7/12/13
Another company told us it would have been discharged a year from the start date (although i thought this was only the case in bankruptcy) in which case the IVA would have been discharged on the 23/6/11
and then a 3rd mortgage provider told us that it wouldn't be discharged until the date it was originally set to finish which would have been 23/6/2016 (had we not settled early)

I have emailed the IVA company we used and have had no joy from them as yet so was just wondering if anyone knows when an IVA is classed as discharged?

We can't pursue getting a new mortgage until this is a little bit clearer as some mortgage lenders require you to have been discharged 3 years some 6 years

any advice greatfully received :)

Thanks for reading

Comments

  • DorisTrousers
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    Hi,

    An IVA will show on your credit file for 6 years from the date it was started so, even though you have settled, like as not it will still show for just over another year. There isn't really any such thing as an IVA discharge, but if you are finding it difficult to get a lender to look at you the only real advice I could give you is to use the intervening period to save up as much as you can towards a bigger deposit. That will go at least some way to negating the damage. By the way, well done on seeing it through and being, hopefully, debt free now.
  • debtfree2016
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    I agree with DorisTrousers, as I understand it 6 years from set of the IVA regardless of and early settlement. Best of luck
    Never make assumptions always ask questions>>>>>;)
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