hopefully straightforward post IVA question

Proverbs_31_woman

If an IVA lasts for 5-6 years and after that you can repair your credit would that mean it is then clear to be rebuilt or is it another 6 years til it is clear?

My IVA advisor said after the debt was paid and within a relatively short period of time to save a deposit ie a couple of years (I will be working full time again then as I am a student at the moment) we could be in a position to buy a house which is our longterm aim.

But reading on the forum I am confused as to whether this would truly be the case. BR is not an option because of my husbands employment, but I don't want to lose the opportunity to have our own home over an IVA when perhaps that may be the only reason to go for DM.....

Advice please?!

Proverbs_31_woman

There are fewer restrictions with an IVA than there are with a bankruptcy but it’s wrong
to suggest, as some adverts do, that there aren’t any consequences. Details of your IVA
will appear on your credit file for six years (i.e. a year beyond the scheduled end of your

IVA) and might have an impact for longer, after all not many people want



(taken from the IVA faq on here)