IVA to Bankruptcy Query?

[StinkyFeet]

Hi All

 

Am wondering if at all possible, as follows:

 

Entered into IVA in January 2006.

In 2008 due to credit crunch, income reduction etc, my IVA failed and the IP of arrangement filed for bankruptcy in Jan 2009.

 

I was discharged from this in Jan 2010 and there was no new creditors as they where just creditors that where present in IVA.

 

I was wondering if it at all possible to see if I could have Bankruptcy removed at same time as IVA falls off credit file in Jan 2012 as it would mean that I would have a insolvency present on my file for 9 years, IVA for 6, over lapped by Bankruptcy and then a additional 3 years?

 

I would really like to be able to move forward in life now and move house next year but with Bankruptcy sitting on file till 2015, that going to be near on impossible.

 

Thank you all

[StinkyFeet]

Sorry, forgot to add that all creditors defaults that where apart of the original IVA fall off my credit file starting from Nov 2011 to Jan 2012, therefore more of the reason why I would like to see if I could remove bankruptcy off credit file so that I have only had a 6 year insolvency on my record instead of current 9 years.

 

May not be possible but if you dont ask you dont know do you. Really would like to be able to get life back on track now as getting so depressed having to remain in current situation for another 4 years

[debtinfo]

sorry that is not possible, it will be 6 years from bankruptcy date

[StinkyFeet]

sorry that is not possible, it will be 6 years from bankruptcy date

 

Thank you matey. Well I may as well give up as I cannot possibly live another year let alone 4 in this situation.

 

ATB

[debtinfo]

why give up, there are plenty of things you could be doing in the meantime to improve your situation, have you cleaned up your credit file, made sure everything is in order so everything drops of in the shortest possible time, Perhaps use a cedit builder credit card (making sure to pay it off each month) so you have something to replace the bad marks with some good ones whe the bankruptcy falls of your credit file. If you going to buy a house in the future your going to need a deposit, the bigger the better, so get saving, Its practically impossible for lite of people with good credit ratings to get credit at the moment, all you can do it make sure your in the best position when the whole financial system improves

[StinkyFeet]

Thank you mate for the heads up. Yes you totally right and as you pointed out, even people with near perfect files are having trouble obtaining mortgages I am far from alone.

 

Like you said, best bet would be to get saving as much as can for decent deposit and then when files clear of previous should hopefully be able to push forward instead of being on this permanent pause that have been for past 11 years.

 

Have ensured all accounts have been closed / settled / satisfied / partial settled on files apart from one (cahoot) that im currently having dispute with as evey 6 months they move the default forward, default was in 2006, now currently jan 2011, know as per previous years they'll move that to june 2011 later this year then jan 2012 if dont get that sorted now.

 

Many thanks

[debtinfo]

nothing is going help the mortgage lender make up their mind better than a big wad of cash as a deposit, its amazing how the bigger the deposit the less the bankruptcy seems to matter. I have known people to get mortgages within 2 years of the bankruptcy because a new partner/family member/ lottery win has helped them out with a large deposit. ( they will probably still try an sting you with a higher interest rate of course though, they have to make some money out of your situation, dont they)

[Silverado 2011]

Hiya SF

 

I have nothing to help your situation except words of encouragement. You were very helpful in my thread a few months ago and I just wanted to lend some support as it sounds like your head has dropped.

 

Keep on keeping on, it will all work out in the end.

[StinkyFeet]

Thank you Jopea and debtinfo for your replies, it has helped no end to share the burden. Jopea, as always, have been happy to help you and thats what makes this forum amazing as you will always find others who have probably been in same situation as you and how they overcome that hurdle. Your words of encouragement are greatly received, thank you.

 

Debtinfo, on another note, I dont suppose my file will seem to bad after February 2012 even with BR present till December 2014 as there will be no defaulted accounts on there after Feb 2012 as they all leave then will it?

 

Normally, BR on files shows defaulted accounts along side them, as I was in IVA 3 years prior, these accounts due to leave 3 years into BR.

 

My current active accounts (Bank account, mobile and credit card) are all paid on time with no problems.