I have just completed my IVA and am awaiting my cert of completion. On my credit file Welcome Finance (who were included in the IVA) are still reporting missed payments over the last 6 years as opposed to registering the account as default when the IVA started. I have contacted them several times and received a "final decision" stating they will continue to report missed payments and refuse to register the default. How can I get this rectifed? I really dont want another 6 years of bad debt hanging over me! Does anyone have the legal info I can quote to get this corrected?
So I have contacted Welcome finance again... they are sure it is not a legal requirement to register the account as default - they can just leave my credit report at 6 payments late for the entire duration of the IVA.... meaning it will stay on my crdit file for a further 6 years! I have started official complaints with the financial ombudsman and Info Officer... how likely am I to succeed? Is it a legal requirement that the account be registered as default?
If that's their final answer then yes I would make a complaint. I would also say you stand a good chance of winning. Point the Ombudsman in the direction of point 47 of the ICO document above that states the creditor should mark the account in default no later than the start date of the IVA once they are told about the IVA.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
welcome finance was also one of my creditors and my credit report also kept saying late payment even though they were included in my iva since 2007. i mentioned this to my iva company and on saturday received a letter letterfrom welcome finance stating due to my dispute over the credit report they have investigated this and that they would amend my credit report as i have now settled hope this helps [:)]
I have contacted the Financial ombudsman regarding this issue and just had a phone call. They are recommending Welcome change my credit file as I wish. Welcome have a chance to argue but lets hope after months of stress this might be getting sorted out!
The Financial Ombudsman sided with me and instructed Welcome Finance to correct my credit file and awarded me £50 compensation!
Welcome have since written to me and have deleted all credit info from my credit files to avoid any more issues arising. it took a long time but was well worth it in the end!
