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If Someone Has An IVA, How Long Are You A Credit Risk?
When searching for the correct debt solution, it is essential to fully understand the impact of all the debt solutions available to you.
It is only when you are in possession of all the facts that that you can make an accurate assessment.
MyIVA-Adviser.com believe in delivering the answers to your IVA questions in a clear and concise manner.
So, if someone has an IVA, how long are you a credit risk ?
Well, different credit companies will have different opinions as to what constitutes a credit risk, after all, different credit companies will be searching for different client profiles.
It is generally accepted that a persons credit risk is related to their credit history, and credit companies keep a constant eye on the personal credit files of each credit applicant, where a search of the credit file determines the associated credit risk.
An individual can ask to see a copy of their credit file at any time. This can be done online at either Experian or Equifax.
If you enter into an IVA there will be a reference to the IVA placed on your personal credit file, and this will remain there for 6 years from the time your IVA commences.
During the 5 years of your IVA you will not be able to apply for credit anyway so, in real terms, you will have to endure just one more year of having the IVA on your credit file, from after the IVA's successful completion.
MyIVA-Adviser.com offers you a free guide on this subject. Click the link to download your copy of "IVAs vs your credit rating" now.
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