I think that this will happen after the six year point - but other posters have better knowledge of the credit scoring agencies than I, so hopefully this will be answered for you tomorrow.
My creditors slowly corrected the balances with settled or partially-settled once my IP had issued the IVA completion documentation. One or two kept registering a balance outstanding after this point, but once I'd sent off my completion certificate to them it was soon corrected. The one outstanding issue I have is that Cahoot registered an account as default AFTER the IVA had been agreed. I am currently still in correspondence with them and they aren't too keen to change it.
Yes the accounts should be marked settled or partial settlement with zero balances. IF creditors don't comply you need to keep badgering them!
They will then fall off 6 years from the default date as this occurred first & should have been the start date of your IVA.
I found that even though accounts were marked settled / IVA completed on my CRF, my credit score was still shot while the IVA still appeared in the Court Information.
Wasn't until everything completely fell off at the 6 year point that my score improved!
If companies are dragging their heels over this then contact the information comissioners office and make a complaint. Make sure the credit file people know that you are going to complain,this usually speeds them up!!!
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
I would think the defaults would fall off as normal after the six years but the IVA would still remain on the register. Not sure how the credit agencies would operate if the IVA was still live but I cannot see how they could keep it on the credit file.
Pretty academic anyway since anybody in an IVA cannot get credit without notifying their IP and disclosing the IVA to the lender. This applies whether the IVA is on the credit file or not.
