The challenge
Most lenders will not approve new credit while you're still inside an active IVA or DMP, since it's generally a condition of the arrangement that you don't take on new debt without your insolvency practitioner's agreement. Once discharged, some specialist lenders will consider an application, though it's treated as a serious adverse marker for some time afterwards.
What tends to help
- If you're still in an active IVA/DMP, speak to your insolvency practitioner first — taking on new finance without agreement can breach the arrangement.
- Once discharged, gather your discharge certificate/confirmation — lenders that consider these cases will usually want to see it.
- Expect a higher representative APR and possibly a request for a larger deposit, reflecting the recency of the discharge.
- Rebuilding a short positive credit history after discharge (even a small credit-builder product) can help before applying for van finance.
Lenders that tend to work well for iva & debt management plans
Based on published eligibility criteria and lender positioning — always check current terms directly, as criteria change.