Completed IVA & need advice on credit file tidy

emmakt5

Hi all, I am delighted to say I have recently completed an IVA after 5 long years ( I can still hardly believe it) and wanted to firstly say to all those currently in one, it does get easier so hang on in there.
I am in the process now of tidying my credit files with the 3 credit ref agencies and it has thrown up a few questions I hope someone will be able to help me with:

1) As all the advice pages tell you, "an IVA will be logged on your credit file for 6 years from commencement", so I was expecting to log into the credit ref agencies websites and somewhere on my file in massive bold text, it literally say " this woman is in an IVA"!! But I have been on Equifax and Call Credit and it doesn't say this anywhere. Call Credit doesn't register any of my 9 debts and Equifax has 4 of them but simply marked as defaulted and the amount (I know what to do to get them marked as satisfied, but as I say, was expecting my files to say word for word, in an IVA and the start date etc. Am still waiting for my p/w for Experian so haven't checked this one yet.. What should the files say with regards an IVA, as I can't see the info?

2) Before the IVA I was in a DMP for a time, so actually some of the debts were marked as defaulted as early as March 2004 - so 6 years will be up on a few of them next month - when the advice pages say, "defaults are removed after 6 years" - are they automatically removed by the computer system or do I physically need to do something, like write a letter, make a call? Or can I just leave them to naturally disappear by the power of technology?

I hope there's someone that can help with these questions - would really appreciate it,
many thanks in advance
Emma

happychappy74

emmakt5

Congratulations on finishing your IVA. :beer:
The Credit Reference Agencies will hold on your file Public Records. You will now have 2 entries. The first will be relating to the commencement of your IVA and the second will be about its conclusion.

Not all companies will use every CRA for each debt, so for that reason each default will not be listed against all three. They will all record your IVA though.

Any Default will indeed be removed 6 yrs after the Default date. They will drop off (just after) that date. I had a few Defaults a month or two before my IVA commencement so I will have a few earlier drop offs.

:j:j:j

emmakt5

Thanks for the reply HappyChappy, I feel much older and wiser since 5 years ago! - I have a newborn, so replies are sporadic! If you are still around then I have one more question - I have received my PIN through the post for Experian and have just logged onto to see my credit file with them.
In the section marked "public record information", where the IVA should be registered, there are no records at all - shouldn't there at least be an entry for when the IVA first began?
hope you can help
Emma

happychappy74

Hmmm....
Bit suprised it isnt there, but something may well appear when u chase everyone to get the Defaults finalised with the IVA Completion Certificate.

Again, well done on getting to the happier end of an IVA.

:j

emmakt5

Ok - thanks very much, appreciated

jjoll

Hi i recently completed an IVA by buying out of it 2.5 years early....should i now be sending letters out to the creditors involved in the iva informing them of this?

happychappy74

jjoll.

Congratulations on finishing your IVA.

Your IP will distribute the funds between your creditors and take care of that end of things. You will receive your Certificate of Completion soon enough, although I have read on here that some companies take months to issue it.

You will need to make some copies of this when it comes to chasing up companies to update your credit file over the next few months as some will do it automatically, but some will drag their heels.

:beer: