how long after iva is discharged is credit available

dink007

Hi this is my first post but I have read lots of info on the site and have found it to be really useful. Our IVA has completed we were lucky enough to have it discharged a year after we started it and it has now been six years since it started (ie started in October 2005) We are just in the process of speaking to Nationwide about borrowing some money for some long needed home improvements. Their loan department has told me that Nationwides ruling is that they will only lend to people six years and one month from the date that the IVA is discharged is this correct as I thought it would be six years and one month from when it started?? This is really confusing me as if it is true it means that for most people who take the five years to pay they would be waiting eleven years and one month for credit!!! :mad:

milliemonster

Nationwide, along with any lender will have their own rules regarding who they will lend to, the IVA obviously will drop off your file 6 years after the date of acceptance, but if Nationwide are who you bank with and were one of your creditors then obviously they will have known about your IVA and still have their own records, you can always try an alternative lender, but credit isn't guaranteed from anyone these days, even those with spotless credit files have difficulty

adyj73

How did you get your IVA discharged after only one year?

FoggyBrain_2

This happens to be Nationwide's policy, others might vary.