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Questions asked regularly and interesting questions asked elsewhere on Beat My Debt are posted here for the benefit of all.
#695
It is important to realise that if you are contemplating an IVA, it is highly likely that you are in at least some arrears with your creditors already and thus are likely to have negative information on your Credit File. Undertaking an IVA will not make this any worse.

An IVA will be recorded on your Credit File for a period of 6 years after the date it started. This will stop you from borrowing further unsecured credit while you are in the IVA. Once your IVA has been completed, your credit file will start to improve and you will be able to borrow again if this is what you want to do.