An IVA won’t affect your credit score for long. It will normally only be kept on your credit file for six years in total.
This is because an individual voluntary arrangement usually lasts for five years, and after it ends it will remain on record for one more year. Six years is a significant amount of time, but it’s important to remember that without debt help, you would have carried on struggling financially. In those circumstances your credit score may have worsened anyway. Its just a misconception that IVA makes you Black Listed or You can’t go for any loans or Credit Cards. However, You can rebuild your credit ratings while under an IVA. Learn How
