The secret world of a credit underwriter

Mike_St_Helens

james23_uk wrote:

I've been told that once my IVA drops off (6 years from the date that it started) my credit file will be clean of any defaults. Is this true?

Also, are there any sneaky ways you would have looked to see if I had any bad history from before the 6 year cut-off point?

Your right James.

There is also no way of knowing - the only way would be say you applied 5 years 6 months - the iva would be there, then applied 6 years 1 onth - the old application could be looked at and then they could see the old credit search with the IVA. However the simple test is dont apply for anything at all...

mountainofdebt

Mike_St_Helens wrote:

Personally Id leave it 3/6 months let some of the old searches drop off your credit files.

Is there any way of checking the status of searches?

The reason I ask this is that I was checking hubby's credit report this morning (using annualcreditreport.co.uk) and they were quoting as no searches being made against him.

Are they just behind with the times or would the searches have fallen off so soon?

Mike_St_Helens

mountainofdebt wrote:

Is there any way of checking the status of searches?

The reason I ask this is that I was checking hubby's credit report this morning (using annualcreditreport.co.uk) and they were quoting as no searches being made against him.

Are they just behind with the times or would the searches have fallen off so soon?

Thats not the best credit report really. Equifax and Experian are the main fellas you need a report from. Dont worry asking for a copy doesnt create another search.

sandralovescats

Mike_St_Helens wrote:

Your right James.

There is also no way of knowing - the only way would be say you applied 5 years 6 months - the iva would be there, then applied 6 years 1 onth - the old application could be looked at and then they could see the old credit search with the IVA. However the simple test is dont apply for anything at all...

Even if I don't apply for any credit - which I won't be doing - a lot of employers nowadays do credit checks. At the moment my credit rating is shot to pieces and , looking for a new job, this really worries me.

Mike_St_Helens

sandralovescats wrote:

Even if I don't apply for any credit - which I won't be doing - a lot of employers nowadays do credit checks. At the moment my credit rating is shot to pieces and , looking for a new job, this really worries me.

They are silent searches an employer does so shouldnt affect your file Sandra, but the IVA may be an issue for some employers.

sandralovescats

Sorry Mike I didn't mean that.

An employer shouldn't be allowed to look at our credit history - my ability to do a particular job has nothing to do with my credit history.

I no longer care about my IVA. I cannot do anything about it. I may still end up bankrupt yet.