IVA & Credit Report

timjhale · 2 May 2013 at 10:17AM

Morning all,

I'm in the last few months of my IVA (roll on 7th July!) and have just obtained my credit report in a bid to try to clear it all up.

Two of my debts have default dates after my IVA started, one a week later and the other a full 7 months later.

Am I correct in thinking these dates should all be the same (or before) as my IVA date?

nellynottm · 2 May 2013 at 10:41AM

Hi

Yes you are correct. The date of default should be recorded as the same date as the IVA (or earlier, if your account went into default prior to the IVA being set up). Being in default on a credit account means that you have not kept up with the terms and conditions of your original credit agreement and effectively the account balance has been frozen. In respect of an IVA, the accounts would have been frozen on the date that the IVA was agreed (or earlier)

timjhale · 2 May 2013 at 1:50PM

Thanks for the confirmation, does anyone know if I need to wait until the IVA is complete before tidying these up or can I start it now?

MoneySaverLog · 12 May 2013 at 8:43AM

You can start now, though you could kill two birds with one stone and get the defaults marked as satisfied once the CoC arrives.

IVA & Credit Report

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