Your IVA will appear on your credit report for six years, starting from the date it was approved.
Note that any debts included in your IVA may be recorded as separate entries on your report.
Does IVA affect your credit rating?
An IVA will affect your credit rating as it will stay on your credit file for six years after the date of commencement (typically one year after your IVA has been completed).
Can you get credit after an IVA?
Despite these difficulties, it is entirely possible to access credit whilst in an IVA. A record of your IVA will remain on your credit file for six years from its start date. This means that, in a standard 60 month IVA, it will drop off your credit file about a year after you make your final payment.
How do I get an IVA removed from my credit report?
The idea behind asking creditors to correct the dates on the default notices and IVA is to make sure that they are removed from the credit file after six years. If your IVA lasted for five years, correctly dated information will be removed from your credit file twelve months after the IVA has been completed.
How will a IVA affect me?
An IVA should be carefully considered because of the possible consequences for your personal, professional and financial life. Your credit rating will be affected for six years, starting from the date the arrangement is agreed. You’ll have to keep to a budget for the full term of your IVA, usually 60 or 72 months.