Certificate of Completion Received-Finally!!

[frequentflyer]

I finally received my CoC today having made final payment on 27th May 2013. Grant Thornton had told me the average completion time was 6 months but having read numerous threads with horror stories regarding PPI VAT etc I thought I was in for a long wait but it actually came in a couple of weeks earlier than predicted. So for anyone out there with Grant Thornton waiting for their CoC there is hope!!
I have to say that I was extremely underwhelmed by the CoC I was expecting something more elaborate than a sheet of A4 signed by my IP!!!

Can anyone confirm that the legal charge that had been lodged with the HM land Registry on our property would have now been removed by GT?

Also would GT informed the Insolvency Service of completion so that the IVA can be removed from their database?

Finally, I appreciate that our credit file is ours to manage, but I have no idea what we now need to do in order to ensure that our credit file is placed in good order, do creditors notify the likes of Experian themselves or do we have to do so and how do we accomplish this? I Have been advised that the IVA stays on our credit file for 12 months following the completion, however I am unclear if this is 12 months from when Experian receives notice of completion from us or the creditors or if it is 12 months from the final payment?...Anyone any ideas please?

[Foggy]

Well done ... congratulations .. it seems that GT are finally getting a handle on this completions lark

They will inform the Insolvency service and will remove the restriction on your property. For further info have a look here:

http://www.pjgrecovery.com/clean-up-credit-rating

[sponge]

The coc is all a bit of a disappointment. I thought of offering a service to have them transferred on to parchment with an official red wax seal of the IP...

Your IVA is on your CR for six years along with the defaults, contact all three agencies near the end with the £2.00 online one. Just to check it’s all gone Equifax sometimes put your IVA in the NOC section, You’ll see what I mean

Anyway cut a long story short once it’s all cleared from your CR. Forget repairing your credit rating with credit building credit cards, they’re a bad deal. You should be able to get a regular credit card (should you ever feel the need) with relative ease. Nationwide flex account is a popular choice and it appears LLoyds to

[back on track]

credit building credit cards are absolutely no different to mainstream cards.if you pay off every month then the apr is meaningless as you wont incur any credit charges.they are only bad if you intend not to pay them off and that's the last thing you should ever do.

[frequentflyer]

Thanks for responses.....I have to say I would have expected GT to have sent out some kind of guide with FAQ's along with the COC....all seems a bit lame to just say "its all over to you now"
With regards to the IVA being on the CR for 6 years, when does that final 12 months start from? Only I have seen somewhere that its 6 years from the date your IVA was agreed, and somewhere else its from the date you completed it??? (Is that date of final payment or date of COC????)
Anyone can give me a heads up on this? Obviously if its from the date the iva was agreed then I only have another month to go....

[Foggy]

Sponge .. forget the parchement (and I aplogise for repeating myself) --- it should be delivered by a marching girls band Oh .. and balloons

[Michael Peoples]

Your credit file should be cleared up six years after the IVA commenced so the New Year should be a new credit file. Well done and again nice to see further improvement by GT.

[sponge]

Backontrack. That's not entirely true cut n paste from a poster who has one, tells you as it is...

I think the thing to be aware of with Vanquis is that they charge you interest from the time of purchase, so there is no interest free terms for the first 2 months. They don't mention this at all when you sign up.They also hound you to take out their payment protection which they say is free when there is no balance, but since you pay interest from day 1 you always have a balance. After the 3rd month it is interest free if you have paid your balance off. Just want people to be careful.

[frequentflyer]

Yes GT do seem to be improving I followed advice I had seen on the forum and did ask Karol to intervene at times when it appeared things were just drifting along and I got no sense from their customer services and I have to say she came up trumps every time!!
I did find however, that despite making a declaration of no claim on PPI back in April 2013 (as I have never had any)I was continually phoned by EIS on GT's behalf regarding PPI who would just not accept the fact that I had signed and sent in a declaration...it was only after I contacted Karol that it was established that they had got their wires crossed and within 1 month I got my COC!...so worth keeping an eye on that if anyone is in the same situation....if I had not got Karol involved I suspect I may not have got my COC now.

[Kelly O]

We have recently started sending out a guide to clearing your file with all our completion documents - you might find it helpful

http://www.pjgrecovery.com/clean-up-credit-rating

[back on track]

sponge my wife has had one for at least 2 years and a half and none of that above is our experience.she does get the 2 month period interest free and has never ever paid a penny interest in all that time.her statement is made up on the 1st of the month and her date to pay the preveous months balance is always around the 26-28th of that same month.so anything she uses after the first of the month is not due until 26th of the following month so no interest is ever paid providing you pay off the balance.they have only ever called her twice to offer the payment protection and both times a simple no has been all it takes.thats our experience of vanquish so cannot say everybody has the same experience but its no different to any other card if used right.

[Foggy]

The terms will be determined by which offer the prospective card holder responds to -- or which offer they are pushing on the website and adverts at the time. The terms and conditions of the same card are many and varied.

[back on track]

foggy we did not respond to any offer.she applied after she got her cc and she got accepted for the card.
just like any other card.
no traps or hard sell just the card.

[Foggy]

What I am saying is that different holders of the same brand card can have different terms -- it has always been thus and Vanquis are no different.

[frequentflyer]

Michael,
When you say that I should have a new credit file as of the new year, is that automatically cleared on a timer(ie 6 years) or does that depend on creditors physically having to notify credit agencies???

Thanks