does iva affect credit rating?

ccvictim

as title

peachyprice

Hell yes, it's only one step away from bankruptcy. It will stay on your credit file for 6 years and is recorded on the Insolvency Register until it's finished.

For years to come you may be asked have you ever entered into an IVA/arrangements with creditors, so it can follow you around forever.

fermi

From Experian...........

Your credit report and individual voluntary arrangements (IVAs)

This new guide explains what an IVA is and how entering into one might affect your credit history.

ccvictim

in these ever tough times and the prospect of losing a high percentage of return through BR,IVA.are informal arrangements of say not paying intrest for 3months etc on the rise or even practiced at all?

RAS

You need to contact a debt charity http://www.moneysavingexpert.com/loans/debt-help-plan#help

and to post up on the DFw forum.