Default / Delinquent Balance on Equifax?

[BanPhu]

A year ago I completed my IVA with F&F Payment. I wanted to switch mortgage from North/Rock but my bank wouldn't touch me with a bargepole even though I explained fully my past situation, they can see money in the bank and I have never defaulted on the mortgage. It was at this point that I joined Equifax, a cost of £6.99 a month to have unlimited access to my Credit File. I was surprised on viewing my report that I was still Defaulted on all my IVA creditors, they had different dates and a Default / Delinquent Balance in every case.

I got a template letter from this site (thanks), tailored the letter and sent off 5 copies on 24th July with 28 day deadline. I specified the correct dates/amounts and they should be marked settled not defaulted and the Default / Delinquent Balance should be £0. Today being day 27 of the 28 the last creditor has made a change to my credit file.

Finally, I think everything sorted, but on checking my Equifax Credit File for what I think is the last time, before paying the other agencies to check their reports of me to confirm all is sorted with them too, I find, great, no defaults, but hold on some of them still have the wrong dates, heyho, not massively important, but what the heck, they have all left a Default / Delinquent Balance on the file, they amount to thousands and more than I would have owed/paid back, surely they should be £0 too (or far lower amounts due to the amount I paid back even if they do have to reflect any loss to a creditor)!

So my question here is after all this hassle are they still trying to wind me up by leaving figures on there or should they be £0 and I contact them again or the Information Commissioner to get this corrected?

Until I know this information is correct or needs correcting I don't want to pay for reports from the other Credit Reference Agencies to find out the same is true on them. Would really appreciate your assistance.

Thanks, Ian.

[Shining]

Hi Ian, I'm sorry I don't underst and a credit file and I'm sure I should but I've never bothered. I'll bump this back up for you and hopefully someone who does know will be along very soon. x

[Sinking Fast]

Hi Ian,

It may well be worth checking with the other 2 credit agencies as creditors will use more than just the one agency.

Im sure a professional will be along to advise in due course.

Gd luck.

[Gtslow]

Hi all,

Luv this site, I have been checking up on my credit file and it was all going well, but for some reason, HFC bank (who were included in my IVA) when updating the record to settled have changed the default logged before to delinquent. I am not sure this is fitting anymore is it?

My question is this, do I need to worry about this as it was added as delinquent as of March 2012 or should I ignore this? Delinquent isnt what I am if I have an agreement to be in an IVA is it!?

I have contacted them once and they have said that their change to delinquent is right, I do not agree...

Whats your thoughts on this anyone.

IVA drops off at the six year point in Feb 2013.

Many thanks for reading

[Gtslow]

Opps, I forgot to ask, can ANYONE see defaults, IVA's and such anyway once it drops off? Can it be used against me after its gone?

[Niobe]

Once it's gone then that's it but be aware that banks use their own criteria for lending - even if you have what you consider to be a good score you may not get anything as I've found out to my cost in the past.

[tonyranks]

the answer gtslow is yes even of the credit files it can be used after wards...alot of people giving wrong info
one of my creditors have been taken over by santander bank, which is first national, my personal account is with santander and now the advisor in the bank told me it shows up even 20 years after on their internal files...bad luck for me, and before that i was clean with santander,
the only way around is to use a creditor who you have never used before so when the credit search is done that will be clean and thier internal computers....thats the key right there internal computers dont get rid of the debts of the computer and is included in the credit scores..hope this helps

[Gtslow]

Thanks all, great advice tony, fortunately most of my debts were not high street banks or mortgage companies so shouldn't be an issue for me as I don't want credit, I just want a mortgage...

[Gtslow]

Experian show me as having a top end of fair credit score whilst equifax shows me as having a very poor rating, ive never bothered with the other agency to see what they have... didnt think it was worthwhile

[Niobe]

If you are looking for a mortgage then have a word with Ryan, our resident mortgage advisor - his details can be found via the 'Ask Experts a question' link on the left hand side of the page.

Don't forget that even though it's not mainstream banks, credit cards etc are mostly linked to them so it will probably show up if you go for any credit.

[sponge]

an iva and deaults on loans tied into the IVA is six years then assuming all dates the same end of. Sometimes there's slight differnces and CRA's do strange things like they put my IVA in my NOC after year 5.

But as other poster have posted best to do nothing at all and just let year six pass. About two weeks before get all three CRA files then on the axe, the very next day call email and hassle them. Takes about a week to get round all three but I've now got a top credit rating on all three infact (Experian now give me 982 excellent, on the old swing ometer)

and def don't apply for credit between years five and six the less lenders know about you the better at this stage

While that IVA sits on public record no one will lend you a pencil bar payday loans and you don't want to be doing that!

[sponge]

Niobe

I think lending criteria has changed and even a sniff of an IVA gets a blank no these days?

[Niobe]

If it's just mortgages then Ryan has been instrumental in getting several of our posters on the housing ladder and most of these still have the IVA on their record.

[Gtslow]

So guys,

Can anyone tell me if my creditor HFCS can mark my file as delinquent in 2012 when updating my IVA as completed?

It's my assumption that this will be on my credit file for six years from the date I was last delinquent. What makes this issue worse is that the account is 8 years old and was marked as a satisfied debt but with a delinquent balance.

Help, I really need some advice as I am getting no where with the HFC litigation people, they keep saying its marked as correct and they will not change it, they also have NEVER put this in writing to me. I believe and have always understood that no negative information should be given to credit agencies once a IVA has been agreed/started so if I am to be marked defaulted or in my case, delinquent ( I didn't actually default on this loan for some reason, probably as I kept in touch through my difficulties) then the delinquent date in my opinion should be date of IVA.

Look forward to a professional in the know or any other opinions.

Ian

[Niobe]

I've no idea on this so bumping it back up so that an expert or anyone in the know can answer.