hi everyone
looking for some advice please.
i entered an iva in april 2009 and finished in april 2014[:)]a long road but got there in the end!
i am now looking to try to get a mortgage,and this is where i need some advice please.
my experian credit rating is excellent after 1 year free of my iva[:D]
however my equifax and credit compass show as poor
i have 3 defaults showing on equifax&credit compass as follows.
First direct (1st default 17/6/2009)
mbna (1st default 18/5/2009)
santander (1st default) 31/08/2009
my questions are these, will these defaults show as being settled after these dates this year?(6 years)disappear from file and my credit rating improve?? or should these accounts have been shown to be patially paid and settled already.
i am really confused now,and really hope this doesnt mess my chances of a mortgage
the good news is that these will disappear from your credit report maybe sept this year, almost certainly October; I satisfied my iva 2 or 3 yrs ago now and shortly after the 6 yrs mark, my credit report became superb
I too am saving for a mortgage again, as I had sold my property prior to my IVA in an attempt to keep my head above water ( which failed miserably !! )
good luck on coming through the IVA journey and it wont be long now before your credit report will be that good you will want to frame it !!
Last payment made April 2012
Certificate received 1st Nov 2012
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by 12 months to go
hi dave
the good news is that these will disappear from your credit report maybe sept this year, almost certainly October; I satisfied my iva 2 or 3 yrs ago now and shortly after the 6 yrs mark, my credit report became superb
I too am saving for a mortgage again, as I had sold my property prior to my IVA in an attempt to keep my head above water ( which failed miserably !! )
good luck on coming through the IVA journey and it wont be long now before your credit report will be that good you will want to frame it !!
thanks for the reply.good luck saving the deposit
My big concern here is that the report on file for the 3 defaults has been marked defaulted every month since mid 2009.
when the 6years is up,will it all disappear totally off my report,or just show as being settled??
Thanks
The defaults should have been dated the start of your IVA and dropped off with it -- but, by the time you get them to get that sorted they will be dropping off anyway.
My understanding is that the monthly reports should disappear along with the default, leaving a clean record.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy
The defaults should have been dated the start of your IVA and dropped off with it -- but, by the time you get them to get that sorted they will be dropping off anyway.
My understanding is that the monthly reports should disappear along with the default, leaving a clean record.
thanks for the reply,my defaults started a few months after my iva was agreed and have been marked as defaulted every month since.
so once it gets to 72 months since the first marked default(even though they are marked every month since) they will start to disappear? sorry if that sounds a stupid question after your reply but just want to know roughly when i can apply for a mortgage without any signs of them showing and stuffing it up
thanks
dave
thanks foggy for your help much appreciated
my big concern is that no record of the default due to the iva is logged (just marked defaulted) and that the 3 i need gone are all dated differently.
i have a horrible feeling that these are not going to just drop off after the 6 years which is at 3 different dates this year[V]
There is a template letter on that link you can use to get them to correct the dates. Also make sure there is no Notice of Correction, which does not drop off until you ask for it to be done.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy
There is a template letter on that link you can use to get them to correct the dates. Also make sure there is no Notice of Correction, which does not drop off until you ask for it to be done.
