how should iva show on credit report once completed

topazicatzbeth

hi, just wondering if anyone can help.

i took out an iva 5 years ago which would have completed 22 dec 2011. i however paid it off early in aug 2010.

just looked at my credit score and it shows a defaut for every month and from the aug to dec shows default but no info. is this correct or should it show as settled.
it shows the iva was completed in aug 2010

thanks in advance.

fermi

Should help.

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

struggler

fermi wrote: »

Should help.

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

Fermi, do the rules apply to IVA as well ? Just had a conversation with OPUS regarding my settled account with them, they say they will not change status from defaulted to settled, and they have the default date 3 months after the IVA !

fermi

Yes they do.

Default date should be on or before the start date of the IVA.

The default remains as a default, but it should also be marked as settled or partially settled once the IVA is completed.

fermi

Letter something along these lines

Your Address
Goes Here

Data Control Officer
This Creditor
Data Controller Address


Dear Sirs

Re: Account Number xxxxxxxxxxx

After consultation 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 an IVA (Individual Voluntary Arrangement) on <Date of your IVA start> which subsequently completed on <Date of completeion>, and <name of creditor> was included within the IVA.

For your convenience I have attached copies of the paperwork confiming the IVA and it's completion.

Currently the information that you have recorded against my name with the Credit Reference Agencies is factually incorrect, and despite several written requests to your customer services , as yet your company has failed to correct the entries as required.

• It is requested that if you intend to default the account, the default entry must be no later than <Date of IVA start>, in accordance with the Data Protection Act.

• It is requested that you mark the account in some way as to indicate that it is settled or satisfied, in accordance with the Data Protection Act.

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.

This is also a formal complain under the rules of the Financial Ombudsman Service. Should you refuse to make the necessary changes, I shall take the complaint forward with them and seek financial redress for the inaccurate reporting of information on my credit record.

Yours faithfully



Fred Bloggs

topazicatzbeth

thanks for the info. looks like max recovery havent marked my accounts as settle/satisfied so i will have to contact them with the letter linked.

credit expert are still showing my credit score as excellent though even though im 5 years from start of iva. is that possible