IVA & DRO

IVA & DRO

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After dro still showing defaults

Hi..after your response ive phoned barclaycard to update my records to'satisfied'as the debt was included in my dro..they say they just keep it as default for 6 years from date of dro..is this right??all the others debts say closed and satisfied.

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  • Posts: 2,048 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    even when closed and satisfied, it will still be a default

    How long since your DRO completed ?
  • Posts: 21 Forumite
    Seventh Anniversary 10 Posts Combo Breaker
    It completed in sept 17..so will it be 6 years from this date or 5??thanks.
  • Posts: 30,239 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    Hi,

    Where creditors are concerned, they are always a little unsure still, how to deal with debt relief orders, and your credit file, on completion.

    The FCA handbook states that all accounts included in a DRO, when successfully completed, should be marked as satisfied, and closed, on your credit file.

    This should automatically happen on the next update after completion of your DRO, but as i said before, sometimes you have to chase them up to do it correctly.

    Defaults stay for 6 years, so after your 12 months monotaurium period, it will show for a further 5 years.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Posts: 2,048 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I believe defaults are 6 years from the date of default, so if default was before the DRO it will drop off sooner. The DRO will drop off 6 years from the start date of the DRO
  • Posts: 21 Forumite
    Seventh Anniversary 10 Posts Combo Breaker
    Thanks..il just leave it then..doesnt make any difference to me..won't be having any type of credit or loan again..lesson learned !!!128077;
  • Posts: 5,783 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    If you want anything removing you have to write to the bank concerned. They won't do it by phone. It's worth just writing a quick letter to Barclays to get them to do the right thing. They did the same to me, I wrote, they corrected it. Credit file is still important, even if you think you have learned your lesson.
    Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.
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