Post IVA Clean up - Help

Paypointpete

Hi,

Finished my 5 year IVA successfully in April 2010. Checked my credit file. It`s still a mess with Defaults everywhere. IVA is marked as satisfied but I cannot even get a bank account with a debit card.

Are there any reputable firms that will sort your file out for you for a fee as I have written to companies, using letter templates asking to update defaults as satisfied but with no luck.

The main problem is that 6 of the debts just come under "Wescott finance" and therefore my understanding is that the banks/loan companies have just sold the debts on.

Anybody suggest a company that acts on your behalf to clean up your file ??

Thanks

moneysavingplumber

It doesn't matter who is currently handling the debt, they still have to comply with the Information guidelines. Westcot handled one of my debts and it takes a while to get through to the right department but they will comply. Credit Expert has the contact details for most of these agencies. Until April 2011 they are only obliged to mark the accounts as 'satisfied', in the same way as the IVA is marked as such. After that time then the defaults and IVA will have reached six years (defaults included in the IVA cannot pre-date the start of the IVA) and then they can be removed. Linked addresses on your report which may contain information regarding the defaulted accounts stay for eight years from the date the link was created.

To be honest, marking them as satisfied won't improve your score that much anyway. Check the sub-prime credit card thread for handy tips. I got my first Vanquis Credit card within a year of completing IVA, and am now on their 'Gold' card with a £2500 limit, although I now pay it off every month, lesson well-learned!

Edit: Another user in a different thread suggested that Credit Expert now offer a service whereby they contact the creditors on your behalf and ask them to update the records.

Max_1066

moneysavingplumber wrote: »

Edit: Another user in a different thread suggested that Credit Expert now offer a service whereby they contact the creditors on your behalf and ask them to update the records.

Credit Expert do offer this service provided you remain as a customer. However in most cases they came back to me saying I have to contact the creditor direct and provide the same information as I'd already provided to CE.

I'd follow the excellent advice in the 'sticky' on this subject and save the fees CE would charge.