How can I confirm if I have had an IVA?

JackTait

Sounds a bit of a stupid question...

But I defaulted a credit account from a few years back. A payment plan to repay the amount owed was set up with a collection company. Would this count as an IVA? I’m struggling to find anything that would confirm it and I have very little paperwork for it.

It was brought up as a question when looking into mortgages, but triggers an automatic refusal if ticked yes.

Any help would be appreciated.

Thanks!

Willing2Learn

JackTait wrote: »

… I defaulted a credit account from a few years back. A payment plan to repay the amount owed was set up with a collection company. Would this count as an IVA?

If you had an IVA, this would have been set up by an IVA company such as StepChange or PayPlan. If you were repaying the credit account direct, then that would probably have been an informal payment arrangement of some kind.

Is the credit account in question still on your credit file?

JackTait

The payments were made through bluestone rather than the company I originally purchased the finance from.

It still appears on my credit report yes!

Willing2Learn

Are you referring to Bluestone Credit Management.

Looking at their website, they appear to be a DCA, which would imply that you were on an informal payment plan. I cannot say for certain though. Why don't you give them a ring? (I take it that the 'limited paperwork' you have, includes an account or reference number).

JackTait

I will give them a ring now. Thanks for the help!

[Deleted User]

Hi JackTait, an IVA is a formal debt solution which has to be set up by a qualified person i.e. an insolvency practitioner. IVAs are a matter of public record whilst in force, but are removed from the Insolvency Register once they're finished (typically 5 or 6 years) so checking the Register isn't going to help you. It's possible Bluestone set up an IVA for you, but they may also have set up a DMP (Debt Management Plan - an informal debt solution). I would suggest you contact Bluestone as they should be able to trace any plan they set up for you from your basic personal details.

fatbelly

I think an IVA stays on the register for 3 months after it is terminated or completed,

https://www.insolvencydirect.bis.gov.uk/eiir/

and stays on your credit record for 6 years from the start date.

So a couple of searches should give you a good idea of whether it was an IVA unless all this happened over 6 years ago.

You shouldn't be able to be signed up to an IVA without understanding what you are agreeing to but there are still a lot of dodgy companies out there.

sourcrates

Bluestone appears to be a debt management company, and not an IP, so where you have gotten the idea you had an IVA from I simply don’t know.

I think you are confusing a debt management plan with the more formal individual voluntary arrangement.