Credit file and IVA
Tobolinos
Posts: 11 Forumite
Hi there MSE members - I have a very basic set of queries re: an IVA and credit scoring that I have recently completed. To set the scene:
1) I set up my IVA in January 2010, it finished in December 2014 (all required payments made on time), but was officially recognised by the IVA provider (PayPlan) in March 2015 (they issued the paperwork).
2) I duly sent off this confirmation to the three main CRAs plus the 4 x debtors that I owed money to.
Questions:
1) Does the six years clock start ticking from the date of the set-up of the IVA (2010), or from when the IVA was confirmed as completed (March 2015)? My understanding is that it is from the date of set-up which would mean I should have a clear record by March 2016. Is this correct?
2) How do I remove any defaults off my credit file? I have written to the CRAs and to the 4 x debtors to let them know the situation - do they do this automatically or do I have to push?
Thanks in advance!
1) I set up my IVA in January 2010, it finished in December 2014 (all required payments made on time), but was officially recognised by the IVA provider (PayPlan) in March 2015 (they issued the paperwork).
2) I duly sent off this confirmation to the three main CRAs plus the 4 x debtors that I owed money to.
Questions:
1) Does the six years clock start ticking from the date of the set-up of the IVA (2010), or from when the IVA was confirmed as completed (March 2015)? My understanding is that it is from the date of set-up which would mean I should have a clear record by March 2016. Is this correct?
2) How do I remove any defaults off my credit file? I have written to the CRAs and to the 4 x debtors to let them know the situation - do they do this automatically or do I have to push?
Thanks in advance!
0
Comments
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1) 6 yeas for the IVA to drop from your credit file starts on the IVA start date, so 2010 meaning it drops in 2016.
2) Defaults will stay for 6 years from the original initial default date, then be dropped automatically. They should have that initial date as at the latest the start date of you IVA and be marked as satisfied as of the completion date. Only if that is wrong do you need to do anything.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Brill! Many thanks Fermi, much appreciated.0
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