defaults from debtors after iva

dapast

i was in an iva from oct 2009 untill june 2014, when they accepted the funds paid in as a full and final settlement.

i looked at one of my credit reports, call credit i think, (noodle?)
and it is showing defaults every month from most of my creditors right up untill this month. are they allowed to do that? can i get them removed? how? will they be on all the reports?

lots of questions and would really appriciate some answers

been debt free for 4 day and feel a massive relief:beer:, just want to get my files sorted now!

thank you-

fermi

They can mark as default status up until the date your IVA finished, and should update soon to mark as settled or partially settled.

Buzby

It certainly doesn't wipe the slate clean - providing the creditor has fully complied and stopped recording FROM the date of your F&F settlement. This will then cease to be viewable in 6 years from that date.

fermi

Check the date of the original default. That should be no later than the start date of your IVA.

i.e. the original default must be dated no later than Oct 2009.

That means that the default and the whole account and history, in fact every trace of the account, will be removed in Oct 2015.

dapast

I was under the impression that all the defults would stop when the iva started and that 6 years from the start date of the iva it would all drop off??

fermi

dapast wrote: »

I was under the impression that all the defults would stop when the iva started and that 6 years from the start date of the iva it would all drop off??

That is only partly right. Everything should drop off 6years years from the start of the IVA.

However, until the iVA is actually completed, the debts are not legally settled. So they can continue to be marked as a default status until that point.

They are not new actual defaults, but just status updates, so it doesn't really matter that they are recorded like that. Especially since everything will disappear in Oct 2015 anyway.

dapast

Thank Fermi, just checked that, most are dated 20/10/09, only 2 are later, but within 5 months of 20/10/09, so there will dissappear on 20/10/2015?? Even thou they show non payment every month up to and including 06/2014

fermi

Accounts ALWAYS fall off 6v years from the original default.

The ones that are later can be corrected. You need to write to complain.

[FONT=Verdana, Arial, Helvetica]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.

My IVA was completed on <Date on your completion certificate >, and <name of creditor> was included within my IVA. For your convenience I have attached a copy of my completion certificate.

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 required that if you intend to default the account, the default entry must be no later than <Date your IVA was approved>, in accordance with the Data Protection Act.

• It is required 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.

I have copied the relevant information provided by the Information Commissioner as an attachment to this request.

Yours faithfully



AN OTHER

Enc:

IVA Completion certificate
[/FONT]

dapast

Ok, great, thanks for the help/advice.
Is there somewhere on here to find a template letter or can I just write a normal letter??

dapast

Thanks Fermi!!