Finished but what next?

[Ivafree]

Hi everyone, my first post here after just completing my iva. Today received my certificate of completion, which of course I'm very happy about. I'm now wondering what I need to do next after reading mixed advice.

I'm told that all my creditors will be sent my certificate, as will the local county council and DTI.

So do I just need to send a copy of said certificate to the three cra's and check it in three months to see if it's cleared?
Thanks Simon

[kallis3]

Hi and welcome to the forum.

Well done on completing and getting yoru letter.

Your creditors will be informed by your IP.

Get a copy of your record from all three agencies and see what they have registered against you. If there are any defaults registered after the date of acceptance then they have to be removed. Your IP will have told them that the IVA has been completed as far as I'm aware.

[Ivafree]

Thank you!
So if there are defaults on there I should write to them asking to remove them.
Then it's all about waiting a further year and rebuilding that credit I suppose but nowhere near what happened before. Hopefully get a decent mortgage!

[kallis3]

If the defaults are registered after the IVA approval date then they have to remove them.

You will have to wait the further year and then start rebuilding. As regards a mortgage, we do have an expert on here who can help out if you need one.

[Ivafree]

Great, thanks for the info! Will see how I get on and ask later about the mortgage.
Thankyou.

[lloyd]

you ended up in an iva through credit/borrowing dont even think about credit .you managed without it throughout your iva .take heed and carry on as if you are still in your iva .mines finished also and i dont need your credit/cards anymore CASH IS KING

[Gina.gu]

Hi, congrats on completion! Hope you have a good time celebrating. I too have been in the process of clearing my credit files and buying a house/ apply for a mortgage through an advisor on forum. I checked all the credit files and got copies a month a go to send on to the mortgage advisor. I also sent letters to the creditors concerned asking them to amend default dates that are wrong. Some complied some didn't. A dispute note has been put on the ones that didn't comply. Call credit have been very hepful through noddle.co a site that does free credit reports. I have been told by all 3 credit reference agencies that on completion of my iva send them a copy. The debts will be marked satisfied but will still stay on file until 6 years after they were first logged. Hope this helps. My iva doesn't end until april the 13th when I make the full and final payment, but I was advised to start getting my credit reprts and sorting out my credit files around a month ago to enable me to get a mortgage quicker. You can get a mortgage now. Just the deposit is quite high.

[mattyboy]

Get a copy of your credit report from experian, equifax and call credit. Pay for the£2 statutory report not the ones charging high money fees. Then if any defaults show after the date of the IVA dispute them with the CRA. I found this to be much quicker than going to the finance companies. Some CRAS only took a Couple of days to update and if you correct one record with one CRA usually the other CRAS update automatically. Defaults stay on for 6 years from the initial default date and they won't remove them before that.

[Gina.gu]

Hi mattyboy. I did just that . A dispute note was put on some of my defaults as the dates were wrong. The lender refused to change the date and so caLl credit could not change it. Got a letter from call credit stating the above. They said the creditor has to agree to the change although call credit did contact all the creditors that I disputed the default date with. Experian on the other hand asked me to contact the individual creditors myself and ask them to change the default date. They also log a dispute note next to the default if you ask them to in writing. Its a bit of a carry on. On completion they will all be marked as settled and satisfied though they will not be removed until 6 years from the default date. Call credit say they are only custodians of the reports and have to have the creditors agreement to change the default date. I guess if creditors won't change the date and you have proof of it on the iva you can take further action, but how? If you do not have funds to do so. I have to move on to the next stage with a few creditors who have refused to amend the dates.

[kallis3]

If you've not got your completion letter then at the moment I don't think there is anything you can do.

Once you have that then write to the data controller at all creditors who still have you at default, enclose a copy and tell them to remove those defaults. If they don't then you can get in touch with the ICO I think it is and escalate the problem.

[tonyranks]

i dont think they are moving default dates because they need certicifate of completion first ecause as far as the creditors are concerned your debt is still a default not settled

[TheMatrix]

This is a old thread but yes you can ask them to move the original default date without the completion certificate because the fact is it should not be dated any later than the date the IVA was agreed.

They just cannot have the default marked as satisfied that's all.

[tonyranks]

ok stan to be corrected..its all about learning but at least i have the satisfied bit right, but on my credit files alot of the dates are after the iva, why do they do this????

[plasticdaft]

Its often just down to information being slow to be passed around the departments at various creditors. Most of my defaults are incorrectly dated and I am currently sifting through them trying to get them corrected. Doesnt help that one of my debts has been sold on to SARL in luxemburg!!!!

Paul

[tonyranks]

stand...oops