Experian Credit Report and IVA / Bankruptcy discharge
Experian says my IVA / Bankruptcy will not show on my credit report anymore – 6 years from its start date…..
Well that might be true for Experian and your credit report, however if you are applying for credit and in particular a mortgage the question lenders ask is not does it show on your credit report but ” Have you ever had an IVA or Bankruptcy – if so what date was it issued and what date was it discharged ?
so to be clear Mortgage lenders are more interested in when the IVA or Bankruptcy was discharged.
We sometimes get asked, “ well I could apply and not tell them – they wouldn’t know ! ”
– Our response to that is BE VERY CAREFUL ! firstly you are committing fraud, by falsely declaring and omitting things on a mortgage application – We really would NEVER condone anyone doing that ! It’s madness – Lenders always do very detailed hunter searches not just on the insolvency register before they issue funds and if you are found committing fraud – well not only will they rescind the mortgage offer, but worse if the funds have been issued and your in your property they can and will demand the money back in full immediately – and no other lender would step in , in those circumstances as you’d in effect be blacklisted for committing fraud, so you could lose everything!
– Our advice is ALWAYS declare any and all adverse credit. – Secondly there are some really good IVA mortgage and discharged bankrupt mortgages out there – so why even bother !
Okay so our Hard Hitting advice might grate with some people, but we believe in honest, straightforward and ethical advice. You might even disagree with some of our comments and advice and you are free to do that – it’s a free world, But the pages and information are designed to help people with discharged IVA’s or Bankruptcy to understand how their credit files work and how to get back into the ‘normal’ high street lending .