Credit file confusion (Post IVA)

raceylacey1972

Hi all,

Have just received my credit file and am going through it, post IVA, to try and get this sorted out.

I have to say that the whole thing seems a little bit daunting! This "clean up" is something I never would have known about if it hadn't have been for this forum :T

I have printed off the sticky with all the info on and if I am correct in my understanding.. For this to be ok the entry has to show settled/satisfied? (someone please correct me if I am wrong).

The majority of my entries are settle/satisfied..

Here's where I'm confused...

I have 2 entries where the default date is AFTER the IVA commencement date - Am I correct in saying this is wrong?

I have 3 entries where is states "default" & "Satisfied" and the "current balance" states "satisfied" - Not sure what is means is this OK? or not, though I'm guessing that it's not because of the default bit.

and finally..

I have 2 entries stating "default" with the default date correct - I know these will have to be changed.

What do I do.... Do I send my certificate of compliance just to Experian & Equifax to get my file updated OR do I have to sent the cert to my creditors (details provided by my IP) as well.

I'm really sorry I know I must have asked this question the other day, but I'm so confused, I don't know what I'm doing!!

And there's me thinking that this was the end of it!!!

Hope someone can help..

RL

rozi_b

Hi raceylacey1972

I'm in a similar situation, but my IVA failed & I'm trying to find out how I get it removed from my credit files (original start date was 22/12/2003). I still have entries on my files for creditors showing default, satisfied etc.

I'm thinking the best bet might be to contact one of the free debt helplines (CCCS, national debt helpline) for help. Worth thinking about for free, impartial advice.

Hope you get it sorted :-)

happychappy74

Hi Racey.

Dont worry about the word Default. The account may now be settled etc, but it was defaulted on and will remain so. The important part is that is now shows Settled or Partially Settled.

In terms of the default date they should be no later than the commencement of the IVA. This needs to be chased up with your previous creditors as I found they will often just reflect their own default records (ie if you kept on top of most accounts until the IVA you may not have defaulted a payment with them until a due date after the IVA) or even some bizarre random date.

Send the letter (available on this site) with a copy of your completion certificate to the creditor, recorded delivery and just be as patient as you can. Some companies are efficient, some just cannot be bothered.

bexiboo84

Hi all... id like to ask something on this as well if you dont mind....my IVA finishes in May this year and I cant wait.. however on checking my credit report at the moment some of them show the default before the IVA started and some show after the iva started...will this get cleared up when my certificates are produced or do I need to get on to this now?!

Thanks

raceylacey1972

Hi Bexi,

Won't be long now, May will soon come around!

You will need to send the certificate of compliance that your IP will send you when your IVA completes to all your creditors. Now I can only speak for mine, they sent me a list of creditors will all the reference numbers and address on it.

The default date on your credit file should be NO LATER than your iva start date, if it is, then it's wrong. You will need to write to all your creditors asking them to update your credit file.

If you read the sticky at the top of this board "CREDIT FILE CLEAN UP - POST IVA" that should give you all the details and a template of the letter to send.

I've registered with Experian for my credit report, it is free, but you have to sign up for the free 30 day trial for their Credit Monitoring Service" which costs £6.99 per month after your trial is up. But you can cancel this at anytime before the 30 days is up. I spoke to Experian today and they were very helpful in explaining everything to me. They said that creditors can sometimes take up to 6 weeks or more ( I think he was being very optimistic) to update your file. I only wish I could afford the £6.99 per month to monitor this whilst it's being sorted out. But sadly I don't have a job anymore, so it's out of the question.

I sent all my letters out (recorded delivery :eek:) today, so we shall wait and see what happens. No doubt they'll be a few more postings on here with me ranting on about the problems I'm having.

Good luck:)

bexiboo84

Hiya Racey

Thanks for the reply, like you I thought everything would be fine once my last payment was finished in May. I spoke to my IP yesterday and she said that they send everything off to my creditors and it takes a couple of months for them to update my file. But to be save I think I will send a copy off as well.

Just to clarify, i noted that you said some say "default" but the account is "satisfied"...I presume this "default" should be removed after the 6th year if im correct? So mine should be all gone by May 2011?

Sorry if im mythering but I would be really grateful if you could keep me updated, kind of a heads up, again like you if i hadnt found this forum I wouldnt have know about the "clean up", I want to get a house next year with my boyfriend and am really worried I wont!

Bex x

happychappy74

Hi Bex.

Yep, the Defaults will drop off after 6 years from the Default date (which is why its so important to make sure the companies have put the correct dates on).
After an IVA they will all show as Settled.

bexiboo84

Hi Happychappy

Thanks for that... so would you suggest i get in touch with the creditors now who have the default date wrong or wait until I get my certificate in May...i dont have any references or addresses to contact them as yet other than the address on my credit report?!

Ta

Bex

happychappy74

I would do it now. I left till after the end of my IVA and spent months chasing it up. The incorrect Default date is something that can be addressed at anytime.

I wish I had done it earlier just so that the end of my IVA was made that little bit more straight forward.

If you want any guidance an rebuilding your history (in a positive manner (before the judgemental people comment)) then just drop me a message and I will let you know how I did it.

And I am a very happy puppy now!!!!

:j:j:j