I'm in a debt management plan. Can i get car finance?
Hi, i have a credit rating of 873 on Experian but I am concerned about applying for car credit due to my history. I have been in debt management plans for the past 7 years (now had a joint IVA for 3yrs) because of bad problems with credit in the past. As a result of this I have not applied for credit since then and so cannot demonstrate any satisfactorily settled accounts and am concerned this would affect any application I make. I'm also concerned as to whether I should be applying for credit or if this would breach terms of an IVA (nothing in my agreement to say so). How successful am i likely to be in applying for credit ? I am not even sure how much I could apply for etc. so any advice appreciated. My husband and I have a combined sal of approx 50k and could probably get together a small deposit if required. Emerlou
January 30, 2013
Hi Emerlou, thank you for using our Q&A. All I can suggest is that you apply as it is hard to say whether we will get you approved without seeing your credit profile. It may help if you put an application through with your partner so we can see what the best option for you would be. we have however been able to secure previous customers in similar situations to yourself an approval. I hope this helps, Rachel