Credit Card and IVA

MrRed_2

Martin


Hi there, anyone help with my problem..

My IVA was satisfied 2 years ago now and checked my credit report/score. I founf some of my creditors have not satisfied the amounts and show as o/s amounts still. No worries on this as I am gradually having that changed, BUT..

My debts are now under control in a big way and enjoying life again, however my bank who gave us an ELECTRON account will still not give me a cheque account...I do not want the overdraft as I do not use one but just a "real" debit card that is accepted abroad (unlike many places did not accept my electron). Want to start rebuilding and thinking of credit card to do this..thinking of the usual suspects Vanquist etc.. but do not want to get rejected as trying to rebuild. My credit score on experian is now 900 that I thought was good?

Any advise please?

Many thanks
Richard

fiveyearplan

Hi and welcome MrRed. Electron cards are being phased out - in fact my 16 year old daughter just got a new card from HSBC that is a full debit card whereas my son got an electron card last year for the same type of account.

It may be worth phoning your bank and asking what their plans are regarding electron cards etc and when they are going to change. The Cooperative Bank are giving out full debit cards from next month and will replace anyone's currentl electron card when it expires (or gets lost!!).

What bank are you with? Can you please update us when you get an answer?

MrRed_2

Thanks for the info, funny enough I am with the co-op and it was them who refused me a "real" account !

danielanthony

When did your IVA start? If it was before May 2003 then all defaults will have to be removed from your file, and so long as you are registered to vote at your address for a couple years at least you should not have problems getting credit. It might be worth waiting until those defaults drop off past the six year mark...

doelani

Hi Richard

Well done in getting your IVA finished.

MrRed wrote: »

My IVA was satisfied 2 years ago now and checked my credit report/score. I founf some of my creditors have not satisfied the amounts and show as o/s amounts still.

When did it start? You can ask the creditors to change any defualt dates to the date the IVA was agreed and mark accounts as satified. although they do nto have to make them satisfied I have just doen it and so far from 22 debts husband and I our IVA 20 have not been marked satisfied with £0 balance owing and default date cahnged to may 05 when we entered IVA, we finished IVA may 08.


There is a sticky about how to clean up your credit file after IVA
http://forums.moneysavingexpert.com/showthread.html?t=1286063

My abnk would nto give us a normal bank account and we ended up going to another and explaining about IVA before they did credit check and we were able to get a full current ac!!!!. Try a local bank that you can mak appointment with rather than apply online or by phone.

About 4 months after we made final payment to IVA ( before we had completion certificate ) I got bother a vanquis and aquacard to help rebuild credit history, I knwo they are not gaurenteed acceptance , guess I was just lucky.