what is the best way to imporve my credit score after comming out of an iva early

dylan_thomas

Hi

i have recently come out of an iva, which was supposed to run for 5 years paying £400 a month, of which i was paying for 3 years and had no defaults on the agreament, my debt accumilated through CSa arears and over drafts then spirelled out of controle hence the iva, i am in a good job HM Forces and earn around 32k a year now and was in a possition to pay of the ive after 3 years , but now im having problems trying to get a mortgage with my partner due to the bad credit score, i realise the problems and mistakes i have made in the past and have learned by my misstakes, i just need to know what is the best way to sort my scedit score out, will it make a difference that i paid my iva of 2 years sooner or not, as i have been told by my bank lloys that the ive will stay on my credit report for 5 years and will keep holding me back untill the 5 years is up, if anyone knows a way or are in the same situation as me please let me know there has to be a quicker way around this problem.

thank dylan

skint-student-nurse

Im in the same position as you - ive come out of an iva early, and cant get a mortagage. I found on here the other day that there is a pre-paid credit card that will help build your credit score, ive applied for this and the link is:
http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve

i also found this helpful: http://www.moneysavingexpert.com/banking/credit-rating-credit-score

hope this helps you as much as it has helped me

mistercovert

You need to send your IVA completion certificate to all credit reference agencies so that they can update your credit records.
Even though you completed your IVA early it will stay on for the full 6 years from its start date. It is going to affect your score for the next 3 years, it will not be taken off. I cleared my IVA just over 20months early, my credit score with experian is 831 at the moment which is only fair but the IVA is on my record for another 11months. I cannot get a credit card as even Aqua knock me back!! My bank have given me an overdraft facility of £1000 but they will not give me a credit card. Never applied for a loan as I don't need one or another mortgage so I am not sure on those.

Rob H