IVA still showing after 6 years

mikeb222

Hi,my iva was settled recently and I expected the debt to fall off as it was after 6 years started.
I note that is is still showing on all my credit files.
Am i suppposed to ask them to remove it?

ryan92

How soon was it settled?
It can take a few months to reflect on CRA's I believe

sourcrates

What date was the IVA approved ?

It will automatically be removed 6 years from that date, settling the debts in the IVA does not remove the entry.

The CRA`s can take a few weeks to catch up occasionally.

fatbelly

It shouldn't be showing more than 6 years after the date it started.

If it is still there in a month, raise a query with the CRAs

mikeb222

I raised the query with the CRA and they state it only falls off if it has been completed, so now I have to wait for my completion certificate which could months before the CRA will consider taking it off. 

fatbelly

I wasn't aware of that.

I suppose most ivas complete within 6 years so maybe i just hadn't noticed

However the experian explanation is misleading

https://www.experian.co.uk/consumer/guides/individual-voluntary-arrangement.html

mikeb222

So it's been another month and still no updates. I have been argueing with the 3 credit reference angencies about this, but they won't budge. They are sticking to their policy of onlyupdating when the Insolvency Service tell them the IVA is complete and that could be another 3 months. Really is frustrating!
Should have fell off 1 july 2023, but here we are 3.5 months later!

sourcrates

Mine was automatically removed after 6 years from my credit files, my certificate of completion (a very underwhelming single sheet of A4 paper) was not provided until 18 months after that, due to them looking for non existent PPI.

The CRA`s have no way of knowing when, or even if, such a document is ever sent to you, so why this is happening in your case I have no idea.

mikeb222

when was yours though? I think this is a relatively new idea. I have now made an official complaint to all 3 CRA's (not as it will do any good) Experian didn't just want the completion certificate but the whole 15 page document. It's absolute madness!

sourcrates

mikeb222 said:

when was yours though? I think this is a relatively new idea. I have now made an official complaint to all 3 CRA's (not as it will do any good) Experian didn't just want the completion certificate but the whole 15 page document. It's absolute madness!

Mine completed in 2013, so things are bound to have changed since then.

MrFrugalFever

My IVA finished July 2021 by way of a F&F settlement but the actual official end date was 26/09/2023. I received my 'certificate of completion' letter approx 5 months after the settlement had taken place.

On the 26th of last month the IVA had officially dropped off all 3 main CRA's (plus 'Crediva'). 

The only issue i'm having now is getting NatWest to upgrade my accounts from the mandatory 'Foundation' they automatically downgraded me to and Barclaycard with their severe credit limit decrease, in part due to an entry from PayPal that's been in dispute for goodness knows how long, they had marked the wrong default date so that still shows on the report and is impacting everything else now.

Equifax have been the only reporting agency to not update the date from PayPal and have been absolutely useless at helping, they just tow the process and corporate line of they give the lender 21 days to respond.

Disputing anything these days seems to take forever and requires a forest of evidence so I feel your pain!

Hopefully you can get somewhere, I'd definitely raise a formal complaint with the Insolvency Services though.