interesting reading about defaults, from the ICO

[TheMatrix]

From the Information Commissioners Office...

http://www.ico.gov.uk/upload/documents/ ... %20doc.pdf

This document was referenced in the attachments for my letter to get default dates corrected.

[tonyranks]

what does this mean, that iva dont have to be marked as ssettled or satisfied?? is my understanding after completion

[kallis3]

Reading that it looks as though the companies can just mark the file as partially settled.

At least it does say that they have to put default dates back to the date of IVA acceptance.

[Grumple]

My uderstanding was that everything would be settled/satisfied after the 6 years all would drop off the credit file. Our credit files are now sprinkled with settled from 10/2011 but with a partially satisfied comment attached.

I have a horrible feeling that this will remain on our file for another 6 years, going from the research I have done on the internet. Makes me wish we had gone bankrupt - not really much benefit in being in an IVA if it follows you around for so long or perhaps we should have left our credit file well alone.

[kallis3]

Once mine is finished then I will be fighting tooth and nail to get mine sorted so that at least it is back to zero.

[mattyboy]

I'm subscribed to the online report monthly with the CRA's. Mine all say that they will drop off automatically without any need to presumably be requested by me. I'm gonna wait and see what happens at the six year mark and deal with any issues then rather than involve myself fighting battles now. Hopefully it will all sort itself out.

[lem]

Well I certainly hope this is not the case, considering the OP was in
2010 and I was told by my IP that the IVA drops off your credit file after 6 years from date of acceptance only this year when I took my IVA out I will be extremely unhappy if I now discover once this is over my file is affected for another 6 years

[kallis3]

The IVA will drop off after six years. You will need to get defaults set back to the date of acceptance but you won't be affected for a further six years.

[Grumple]

I am finding this thread extremely interesting. I appreciate that the IVA will drop off the file after 6 years but if a satisfied S has appeared on the file in Oct 2011 with an attached partially settled - will the partially settled not stay on for a further six years from that date? The ICO says that creditors can mark accounts as partially settled but doesn't say from what date. If we will be penalised for another 6 years we will basically be stuffed - no mortgage, no rent - nothing.

[Ryan]

Hi, the defaults will drop off after 6yrs, from the date they are registered, whether satisfied or not. Always best to check your credit file to make sure though.
Hope that helps

[kallis3]

Welcome to the forum Ryan, nice to see you.