IVA last payment May 2012 - when will file clear?

GlamGirlie · 22 May 2013 at 12:55PM

Hi,

My IVA ended in May 2012 or should I say the last of my 60 payments was made in May 2012.

12 months on and I am still waiting for it to be closed on the credit reports and for the final distribution to be made to the creditors.

I have chased Debt Free Direct numerous times, but am always told they have a backlog of cases owing to the 'recent' court case re the treatment of VAT on IP's fees.

I assume that my credit file will clear in due course, as the defaults were logged 6 years ago this month..... am I correct?

Will it matter that the final distribution has not been made?

Is it possible that the wiping of the file will be delayed?

Any advice gratefully received, please. I am really worried that something will happen to stop the file being cleared, through no fault of my own!

Thanks

balmk · 22 May 2013 at 1:15PM

Hello

Just a couple of questions - have you had your completion certificate through and is your IVA status still shown on the insolvency register (http://www.bis.gov.uk/insolvency/personal-insolvency/individual-insolvency-register)?

Your IVA should "drop off" your credit file 6 months from the inception date, but this may depend on how your entry in the Insolvency register is looking - it's also worth checking that any defualts and late payments are also correct - for those included within the IVA, the default date can be no later than the start date of the IVA.

You should notice the IVA disappearing from next month, but it can take a couple of extra weeks for the CRAs to update their records.

GlamGirlie · 22 May 2013 at 2:13PM

Hi

No, the certificate hasn't been issued, nor the final disbursement made - DFD are claiming the court case has delayed it.

The IVA is still showing on the register, as 'current'.

I presume you mean 6 years' from the start date, which is showing on the register as 25 June 2007, so I imagine it will disappear shortly after 25 June 2013?

Many thanks

Vikipollard · 22 May 2013 at 9:13PM

Sorry to rain on your parade, but my 6-year IVA payments finished on 01.09.12 and the IVA still shows on both the Insolvency Register and my credit reports.

The defaults have all fallen off, but due to the IPs faffing about delaying the final dividend payment, first because of the VAT issue and now the golden goose egg of PPI, they are not issuing completion certificates and therefore the Insolvency Register is not updated and remains as 'current'.

Grant Thornton claim they are going to hold a mass variation meeting of creditors to allow them to provide completion certificates whilst the PPI issue is sorted ~ but they've been saying that for months and nothing is changing. The cynic in me says they're earning lots of interest on the money, so why rush....

Sick to death of this ~ AND not being updated. It's like pulling teeth getting them to respond or move on anything.

End of the month next week and yes, I will be emailing...again.

janieday · 22 May 2013 at 9:34PM

Hi

We recieved our completion certificate on 28 September 2010 and up until yesterday when i was reading martins information on IVAs i was unaware that it was up to us to send a copy of the completion certificate to the credit reference agencies, which i have done today. i have also noted that it is still showing as current on the insolvcency register. I am FURIOUS that Debt Free Direct did not tell us that this is what we had to do> Nearly 3 years down the line and we are no better off than before !!!

GlamGirlie · 23 May 2013 at 12:09PM

Thanks all.

IVAs aside, I thought everything (good & bad) disappeared after 6 years?

Is this not the case?

nellynottm · 24 May 2013 at 10:27AM

Yes that is correct. All information regardless of whether it is satisfied is removed after 6 years. So in the case of an IVA, this would be removed (completion certificate or not) 6 years from the date it was registered.

GlamGirlie · 24 May 2013 at 12:38PM

Thanks Nelly. Much appreciated, that's what I thought!

But then can anyone explain how are Janie & VickiPollard (above) still having problems with theirs?

Sorry to be so stupid, I just don't understand!

nellynottm · 24 May 2013 at 2:38PM

I am not sure to be honest.

They would need to confirm that it is on the file over 6 years or not. If the IVA start date is recorded incorrectly, they would need to get a letter from the Insolvency Service confirming the correct date and supply this to Experian, Call Credit and Equifax so that they can make the amendment.

If the date is recorded correctly and it is indeed on their report (despite being 6 years old) then they would need to get in touch with Experian, Call Credit and Equifax to remove this. Completion certificate or not.

Vikipollard · 25 May 2013 at 8:39AM

To be clear, all the defaults have (rightly) dropped off my file but the IVA still shows because until the completion certificate is received it cannot be removed. The IVA start date correctly shows as September 2006.

Unless someone can tell me differently of course ~ but as Janieday says, you have to have the certificate to send to the CRAs, otherwise they wont take it off.

And until that point, it will still show as current on the Insolvency Register.

GlamGirlie · 5 August 2013 at 11:48AM

Hi all, just to update you (although you are undoubtedly not interested!), I have just received my completion certificate from Debt Free Direct this week, August 2013. My last IVA payment was June 2012!

My Experian file is now clear, with a 'score' of 892, no defaults noted, and no mention of IVA.

My Noddle report still shows the IVA and one or two of the defaulted facilities that were in the IVA.

I haven't checked Equifax as I've already had their free 30-day trial.

One of the products that was in my IVA was a Nationwide credit card - I can see from their online banking that the final disbursement has been made (the outstanding balance has been reduced) but the product itself is still showing, and says I still owe £1,788 ish.

I assume this will disappear in due course - does anyone know, please?

Thank you!

IVA last payment May 2012 - when will file clear?

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