I keep reading that equifax are adding a notice of correction to state the date when a persons IVA had completed. I believe when a NOC exists on a persons credit report that a creditor is then obliged to take note and obviously up on seeing this information, they would normally decline the credit application. Infact I've also read (on money supermarket etc) that some creditors will simply decline an application if a NOC exists, without even considering/reading whats in it!
Now, I might be wrong but I thought a NOC existed so the person to whom the credit report belongs can write information relating to thier credit report. Not so CRAs can enter what they want on there (IE the person should have to request the CRA to put something into the NOC area). So by writing information to the NOC area that hasnt been requested by the person to whom the credit report relates, I wonder if equifax are breaking the data protection act? After all, by doing what they're supposedly doing, it will only ever have a negative effect resulting in never ending failed credit applications - there isnt anything positive that would come out of having this in your NOC after your IVA has completed and 6 years have passed since it commenced. I wonder then that they only do it for full and finals etc, rather than IVAs that have completed a full term? Does anybody know? I think equifax have some questions to answer...
Equifax put this on in a mistaken belief that it helps the debtor by highlighting the fact that an IVA shown on the credit file has, in fact, ended. As long as you make sure they remove it at the 6 year mark, it will have no lasting damage.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Why not refer this to Tyler Morgan Claims Limited - who offer a very reasonable service for dealing with correcting credit files. They have a representative now posting on the forum, so might be worth a call.
