being accepted for credit within a year of an iva finishing?

spriggit82

|Hi,

i was wondering whether anyone had been given credit within the year after your iva was completed? mine finished in sept - is it too early to try? want to built up my credit rating again asap so i can look at mortgages in the next couple of years.

thanks

FoggyBrain_2

Have you had your completion certificate yet, and are all your default dates in order? Vanquis seem to be the best bet for a credit builder card, but are still "hit and miss". Other than that keeping your bank account in good order will give you green ticks, as will paying your mobile phone contract in a timely manner.

Personally I would wait until the IVA has dropped off, for a better chance of acceptance -- you don't want too many search footprints accumulating.

spriggit82

Hi,

Yes I got my completion certificate in January and sent it to all the CRA's I have checked my report and all my defaults now show as satisfied from the date of the start of the IVA (Sept 2005) Ive also put a notice of correction on my report to explain why I took an IVA and that all the defaults on my accounts were when the IVA was being set up and I was told not to pay. Would this help?

ferrit44

Vanquis would be your best bet at this stage, however it took me almost 3 years to be able to successfully re-apply for a credit card after the completion of my IVA.

Vanquis, Cap1 and Aqua are basically your best bet at this stage. Easiest being Vanquis, hardest being Aqua.

To be honest, although i'm no expert, I don't believe the completion date will really be taken into account. It'll be the public record of the Start date that will show up on the credit file search, which stays on for 6 years as far as im aware.

notmyrealusername

I posted this on your other thread but it's relevant to this one too, I completed my IVA early by way of a F&F settlement so the credit I have obtained has been with the completed IVA still showing on my credit file.

My aim is to be accepted for a motgage at a decent rate when the completed IVA drops off my file in September 2012. I use both the credit cards regularly but always pay off in full at each statement and have never paid a penny in interest.

Sept 06 - Started IVA.
Sept 09 - IVA concluded by way of F&F.
Feb 10 - Accepted for Vanquis £500 limit.
May 10 - Third statement, limit increased to £1000.
Sept 10 - Seventh statement, limit increased to £2000.
November 2010 - Accepted for Sygma credit card, £2000 limit.