Life after the completion of an IVA?

FoggyBrain_2

All the defaults relating to loans which were included in the IVA should be dated the date of acceptance of the IVA. Most creditors register defaults at various times during the IVA and so the dates will be all over the place. You need to write to each creditor individually with a copy of your completion certificate and ask them to remove any defaults post dating the IVA acceptance date.

They will have 28 days to comply, after which you can complain to the ICO.

Have a read here:

https://forums.moneysavingexpert.com/discussion/1286063

lsmith87_2

Thanks thats brilliant. I cant wait to get this all sorted!!
Is there an example letter i can go off? I clicked on a link on the post you gave but it was regarding Bankrupcy...

FoggyBrain_2

I have seen one somewhere -- I will have a look .........

FoggyBrain_2

OK -- this came from a poster on https://www.iva.co.uk (with apologies as I cannot remember who!) ....... always try to get the address of the Data Controller.

(NOTE ADDRESS BELOW IS THAT OF THE DATA CONTROL OFFICER FOR SANTANDER WHICH IS NOT THE SAME AS THE CUSTOMER SERVICE ADDRESS)

Data Control Officer
SANTANDER UK PLC
2 TRITON SQUARE
REGENTS PLACE
LONDON
NW1 3AN


Dear Sirs

Re: Account Number [FROM CRA FILE]

After consultations with both the Information Commissioner and the Credit Reference Agencies, I am writing directly to you to request that you formally update my credit files in accordance with the Data Protection Act.

I entered into a Individual Voluntary Arrangement on [IVA AGREED DATE] and subsequently completed the arrangement on [IVA COMPLETED DATE], and Abbey was included within the IVA. For your convenience I have attached a copy of my Certificate of Completion.

Currently the information that you have recorded against my name with the Credit Reference Agencies is factually incorrect.

• It is requested that if you intend to default the account, the default entry date must be dated [IVA AGREED DATE], in accordance with the Data Protection Act.

• It is requested that you mark the account in some way as to indicate that no further monies are due and the account is now paid, in accordance with the Data Protection Act.

I also request that any search you carry out is deleted after correcting the information held at all three credit reference agencies.

The Information Commissioner has indicated that I should allow you 28 calendar days from the date you receive this letter to comply, during this time you are requested either to update the Credit Reference Files correctly (of all three Credit Reference Agencies) or notify me in writing the reasons that you refuse to.

After the 28 days have elapsed the Information Commissioner has requested that I inform them if your company fails to update the records so that they may take any necessary enforcement action against your company.

I have copied the relevant completion certificate to this request.

Yours faithfully



YOUR NAME
Enc:

IVA Certificate of Completion.
ICO Default Guidance Note V3 02/08/2007

notmyrealusername

Have your creditors sold the debts on? You need to write to whoever owns the debts now rather than who they were originally with. The majority of my debts were sold to Max Recovery (who I love as they voted 'yes' to a full and final settlement!).

As an example my loan with Barclays was sold to Max recovery so the account/defaults on the credit report were now in the name of Max Recovery.

I found them very helpful, they replied within two days apologising for the incorrect default dates and my credit file was rectified straight away. Even better for me was that 2 or 3 defaulted accounts they had purchased completely disappeared from the credit report after I asked for the defaults to be correctly dated!

FoggyBrain_2

I guess if they know they are about to drop off it's as easy to delete the entries as amend them :0)

notmyrealusername

FoggyBrain wrote: »

I guess if they know they are about to drop off it's as easy to delete the entries as amend them :0)

They weren't about to drop off, I completed early by way of F&F settlement so the defaults/accounts had three years left to remain on my credit files! That's why I love Max Recovery

FoggyBrain_2

ah right Notmyrealusername -- even better then :0)

Lee021078

Hi all,
Regarding the query from lsmith87, I am in an IVA and can't wait until I'm done!! Unfortuinatley, that's not until Oct 2014!! I do own 50% of my property and also have a young family. I will have to move to a bigger place (new mortgage) and i was hoping to start agin once this IVA prison sentence has been completed. Is it possible that I will ever be able to get a new mortgage or has my credit file been tarnished forever? Can anyone please give me an answer to help put my mind at ease? I do feel as though i'm not getting anywhere!!

Lee021078

**Also, I do beleive that I was mis-sold this IVA idea!! The company "Personal Debt helpline" didnt give any advise and they had me sign all the documents and said that everything would be "Okay, no problems in the future". I need ansers - Can I get a mortgage? will my credit history be good again? Will I ever be able to look back on this and laugh???