We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
IVA finished = credit score advice
money-saving-novice
Posts: 51 Forumite
Hi there
I recently completed (august) what seemed like forever a IVA. I was in debt management for 4 years then moved to an IVA for 5 years.
I'm signed up to noddle and receive a credit report monthly. My score has yet to go up from when I was in the IVA.
When should I expect this to improve?,... just to clarify, it's not to get more debt, I just want to see it improve.
I recently completed (august) what seemed like forever a IVA. I was in debt management for 4 years then moved to an IVA for 5 years.
I'm signed up to noddle and receive a credit report monthly. My score has yet to go up from when I was in the IVA.
When should I expect this to improve?,... just to clarify, it's not to get more debt, I just want to see it improve.
0
Comments
-
money-saving-novice credit score
999.
There you go, your credit score just hit the roof,
congratulations.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Why do you want it to improve?
What would you like it to be?
You do know you're the only one who sees it.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
-
Hi
Your credit score is a rough guide and it’s your credit history that’s the important thing to improve.
The IVA will have a negative impact until it drops off your credit file after 6 years. It might help you to take out a credit building card with high interest but pay it off in full each month. That way you’ll be building up a good history of repaying a debt on time, but not paying the interest.
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
The numbers can be reassuring, but if you want reassuring numbers look to your bank balance instead
Anything that actually involves your credit file also involves taking on more debt, and you don't want that now you're debt free (and if you're thinking mortgages, they don't look at the number, they look at the potential drains on your affordability and your history of paying debt off). Get a savings account open and start putting the money that went to the IVA in there, and you'll have some lovely high numbers to feel good about in no time, and they'll be ones that are genuinely useful to you! Mortgage
June 2016: £93,295
September 2021: £66,4900
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards