You are correct - it stays on for six years from the approval date.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I think you are right Melanie. Your record can show defaults as well as the IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Yes your defaults show separately in each case with your bank/credit card/loan etc.
Then another part will have your IVA details.
In my case I entered a DMP first for a bit and my defaults on some of my cards show starting a year before I started my IVA. So they will fall off my credit report this year and my IVA and other credit card will fall off next year.
Not sure what happened but I am all paid up and finished...they even owe me money now ))
The credit report will show defaults togther with any Insolvency information.
There is still a major issue with post IVA credit report information.
Typically it takes longer than the 6 years to clear all entries. For example defaults show for 6 years from the default date not the date an IVA was agreed.
If the defaults have been put on there after the IVA has been approved, aren't the creditors supposed to remove them if you request it?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
))