IVA F&F Question

fatboy88

Thought this was all done.

Received a halifax credit statement chasing outstanding amount, they said even though the account is at zero there is still an amount on the systems oustanding by law they can still send statements for the next 3 years

Is this true?

I thought once settled the account was closed

thanks

FoggyBrain_2

As long as the details are correctly recorded on your credit files, so the defaults drop off at the end of the 6 year period, there should be no problem. If Halifax want to waste their time and money sending statements that are going straight into the shredder. let them !

fatboy88

thanks

I was worried it was more hassle, will be doing the credit check this week.

Is the date the start of the IVA or start of when they first chased the debt on the credit files for the 6 year thing?

FoggyBrain_2

It's six years from the date the IVA was accepted.

Hitme

Should be six years from when each default was registered, each debt is likely to be different and some maybe before the IVA and some after.

FoggyBrain_2

Pre IVA debts should be part of the IVA and you shouldn't be running up new debts whilst in the IVA, so no defaults should be registered after the IVA has been accepted. Creditors often do, though, and once the IVA is completed you can demand that the default dates be amended to that of the IVA acceptance. Therefore they will fall off the register 6 years later.

fatboy88

thanks never thought to check if they had altered the dates