Issued a default notice

[JJSIDE]

I have had an IVA running since December 2004. There have been no problems with it at all and it is fully paid up to date. This morning in the post I received a Default Notice from Capital One Bank re one of the debts included in the IVA. Anyone got an idea why they are sending me this now? Could it be related to a recent variation meeting my IP called to get more fees as they were capped in the original agreement? i.e. have Capital One got the wrong end of the stick and think this is a new IVA? Any advise as to why they have sent me this, what it means and what I should do with it? Thanks, Joe

[Adam Davies]

Hi
This is a bit annoying as if registered will sit on your credit file for six years from the date it is applied.
Speak with your IVA and make sure that they deal with this and copy you in on correspondence.
You have no worries about the debt,it's part of your IVA full stop,it's just the default notice will extend your poor credit rating for an extra four years.
Regards

[Skippy]

I think it's terrible that companies can carry on defaulting you when you are in an IVA, especially when in BR they cannot default you after the date of the BR order.

I know that I have been defaulted after my BR order was made but once the companies have been notified they have to amend their records with the credit reference agencies - easier said than done in a lot of cases apparently, but I will persevere!

[debbiw]

I agree, people do make mistakes, and will suffer for six years, its unfair to extend this by another 4 years. Thats terrible. Saying that, when my IVA finishes, I don't want credit ever again, so wouldn't make much difference to me,

[buttercup]

Problem is Debbiw in the future you may want to get a mortgae or car & need a form of credit. This seems so unfair if they can slap a default notice on so late in the game.I know what you mean about not wanting credit more along the lines of credit cards & loans I think.

Fight the good fight skippy I expect it is hard trying to get the companies to make any changes on credit files.

At the end of the day if you have a right then fight for it!

[Adam Davies]

Hi
I agree six years is long enough.Skippy makes a good point in that it will not be straightforward,you can be sure of that,but please persevere.
Slightly off tangent but I tried to cancel a dial up internet connection yesterday,nothing on the website to let me cancel it even though the phone recording advised me to go to the website and then waiting forever to speak with a 'real' person only to be told that they can't cancel in two weeks time[end of month]you have to ring back on the actual day[0845 number]
Cancelling a service is so difficult,opening one is a doddle
Regards

[Sass]

I Just posted the same thing in another thread. This happened to me today in that after 2 and a half years I received a default notice from Capital One - this is totally out of order and why oh why do they do this so late into the IVA?? Its very unfair that we should have to suffer another 4 years after the IVA ends. I am going to send my letters to my practitioner in the morning and keep them updated with it and hope they do the same to me. I'll never get on the mortgage ladder at this rate otherwise. I am really very angry and very down about it. [:(!][:(]

[acsn]

Here is the response I got when I challenged the late defaults on my credit file. And I still have two credit cards companies who haven't yet defaulted me 15 months in to the IVA but are still reporting monthly. They could do it at any point in the next five years and there is nothing I can do about it.

We note that some or all the debts shown on your report were included
in your IVA. The debts have to be shown separately to reflect how a
credit agreement was conducted before the IVA took place. We keep credit accounts on our records for six years from the date of default. When your IVA is complete, lenders should update the entries to be marked as satisfied. However, the defaults will not be removed just because your IVA is complete, they will remain for the six years.

There is no reason why the default date of an account cannot be after
the date of your IVA. The date of default will be down to the individual company and their set procedures of at what point you have breached your contract with them. At this point they will default the account entry.

[TheMatrix]

The date of default will be down to the individual company and their set procedures of at what point you have breached your contract with them. At this point they will default the account entry.

The point when I breached my contract would be the date I entered into my IVA, as such this should be the default date registered. If my file says anything other than that I'd put a notice of correction on there to give the details just don't forget to remove the notice of correction once all the late defaults have been removed

[shazzles]

hmmm i just got one of those too and im only 1 month into my iva!!! What do i do with it?!?!?!?