I would recommend talking to the free debt charities like Citizens Advice Bureau, National Debtline and CCCS (and payplan) before using a company that charges for it's services. They will be able to offer you independent advice which will not have anything in their interest (they won't be charging your 15% on top of your debt).

I would recommend the original poster (cookie) gets a copy of their Credit record (for £2) to see what information it holds.

As veloxuk has said it is likely to affect your ability to get any further credit especially in the current climate where an 'excellent' credit score isn't a guarantee of getting credit. Lenders are far more careful about the risk now. (words stable door, horse and bolted come to mind).

The information will typically last 6 years, but you have spent the last 2/3 building up your credit rating again, and I would continue doing so.

HTH

Sparky.

Hi

I helped my friend with reasearch IVA'S, she has entered into an IVA and it is the best thing she has ever done, she looks and feels a million times better. She was stressed, having sleepless nights and beeing chased by all the people she owed money too. I will say one thing be carefull of companies charging up front fees alot of companies are taking your first 2 payments.

Cheers

As its a form of insolvency it will be the same as bankrupcy, most lenders wont want to touch yourself

I entered into an IVA in June 2006 and remortgaged to pay it off as a lump sum that was satisfied in Jan 2007. I currently have a car loan at an extortionate rate of interest and a reasonable interest credit card. I intend to pay off the car loan this month. However for future applications for credit how badly will the IVA affect this? Most loans require no CCJ's or bankruptcy but as far as I understand it an IVA is not classified as a CCJ or bankruptcy and does not appear to be mentioned in lending criteria. I must add that I have never missed a mortgage payment and all payments on the car loan and credit card have been made on time, so for the last 2 years I have a good record.