Thread: I V A - Question

Hi Big Boss Man,

The answer is yes to all three. I have done all three having had an IVA since Nov 2005.

My experience is that the defaults resulting from the IVA are proving more of a problem than the IVA itself.

My advice is take one thing at a time and never give up. I would say that a mortgage is going to be difficult for you now. I was lucky to get it before the real economic downturn kicked in and the likes of GMAC were still happy to lend on 95%LTV with an IVA a few defaults chucked in and not to bothered about your income!! No suprise things have ended up going the way they have really !!

Yes, you can still apply to have bank charges re-claimed as you are well within your rights to do this from the charges that were put on before the IVA was accepted.
I would also say that you would be fine to get a mortgage - it may be worth looking into smaller companies, as I am unsure as to whether the larger mortgage companies would accept you based on the credit rating.

Hope this helps x

Hello there.

You can indeed claim back your charges but you need to take the IP aware of any proceeds that you receive as it would be classed as a windfall. You should be aware that they may take the money and use it to pay your creditors.