IVA paid off early. What comes next? Advice please.

under_par

First I would like to declare I am now debt free and going to remain so, except for our wish to purchase a house when we are able.

I entered IVA 2 years ago. As a result of retirement lump sum I have now paid off 100 pence in the pound of the 50K I owed.

I have recieved my certificates of due completion.

How do I check my creditors have updated my credit file?

My wish to purchase a home may well be unviable if my credit rating means I will have to pay at too high an interest rate. I know it may be some time before I may be able to affard it.

Does the forum have any practical advice to help me?

kns_2

Hi
Well done on being debt free it's a great feeling.
Your IVA will stay on your credit file for another 4yrs yet so getting a mortgage at the normal rate will be very difficult I am afraid.
so just use the next 4yrs to save what you would of paid in to your IVA.

debtfree2016

Hello Under Par.. Great news and congratulations.. You will need to improve your credit history. My suggestion would be (and not quite just yet) apply for a high interest credit card with a small balance, use this to purchase petrol or shopping 'you must ensure you pay the card off in full at the statement date'. This will assist you later on in time when it comes to applying for a mortgage. Good Luck and Well Done.

under_par

Thank you both for your advice.:beer: