Better loan rate after IVA paid, but still on credit file?

Southpaw18

Hi All,


I started an IVA in 2009, in mid 2011, my ex took out a loan and I made a full offer and cleared the IVA. Being under the impression this would disappear in May this year, as it was a five year IVA, I was looking then to get a loan, and fully pay off my ex, as the rate she got the money for me wasn't great.


Anyway, now I read online it will show for six years on my credit file, even if its paid, im abit stuck.


I have had a credit builder card, a vanquis and now I have a credit card at about 26%, so im building credit, but my plan to get this loan paid off has taken a hit if it really is 6 years.


Im wondering if anyone knows my options. Any where that does half decent loan rates based more on circumstances? I mean, I could paid £350pm to pay off a loan, and its about 3k I have left to clear. Could I get someone with good credit to get a credit card at a low rate and transfer the balance even though they aren't in my name? Im guessing not?4


Im in a very good position money wise, but the fact that still shows restricts me a lot, and im wondering if anyone has experience or ideas on this?

Foxy-Stoat_3

You need to get your credit reports to make sure the last default is not earlier than when the IVA started. All defaults will drop off your file after 6 years.

I don't think you can balance transfer between different people so you best just apply for a 12 or 24 month loan, look on the Compare the Meerkats and apply for a loan and see what happens. If you get declined then don't apply for anything else and reapply in 6 months time.

Good luck.