IVA done, what now?

B16

Hi,
Not sure if anyone can advise me but I have now settled my IVA 🥳 but wondering what to do next, how to build up my credit score etc
Any advice gratefully received
Thanks
B16

sourcrates

Hi,

Well for starters good news, you don’t have a credit score to build, so you can forget that one, when I completed my IVA the last thing I wanted was further credit, I decided to live within my means, and have continued to do so ever since.
It’s payment history that counts, just pay bills on time, maybe get a sim only contact, no late payment or defaults, time will build a history for you.

So if you must use credit again, time is a great healer.

PrettyKittyKat

When you say settled - does that mean you have agreed an early full and final settlement? Or do you mean you have completed your IVA at the originally agreed timescale?

I think the main thing to do is wait for your completion certificate then check any IVA creditors have updated the credit reference agency correctly so that after 6 years it drops off. Other than that do as sourcrates says, lives within your means and utilise your new budgeting skills! In doing so you will start to build a positive payment history