How soon after settling an iva can I begin rebuilding?

ant035 Forumite Posts: 1 Newbie
I will hopefully be able to settle my IVA soon so I’ve been reading through some of the posts here advising ways of rebuilding your credit score after an IVA. There’s been some excellent advice, but I am still a bit unclear on how soon I can start this process after my final payment? Would I need to wait until I receive my completion certificate or can I begin right away?  I know that my IVA organiser was informed about any credit taken out over £500 in value under the terms of the IVA and usually the application would be blocked as a result.  Does anyone know if they would be informed about credit applications for things like loqbox after the final payment is made?


  • mwarby
    mwarby Forumite Posts: 2,044
    Part of the Furniture 1,000 Posts Name Dropper
    You need to wait for your completion certificate, that normally take a few weeks to a few months, covid may delay this

    once you get your completion certificate I’d wait a few months before worrying about default dates, balances, settled status  etc, as it takes creditors a while after they get final Iva report to update records and for these to filter through 

    really other than ensuring that data held is correct, the only real thing that will improve it is time (the 6 year from date Iva started). You might find along way you can get the odd sub prime credit card or mobile contract, but the effect in eyes of many lenders will be small until the IVA goes away
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