IVA concluded yet Credit Record still shows active

[Bourdieu]

Hi all,

My IVA was concluded back in Feb 2008 after an early settlement figure was agreed with my creditors. They received approx 52p in the £, close to what was agreed at the start of my IVA in Feb 2007.

I sent a copy of my IVA completion letter to the 3 credit reference agencies and it seems they have updated my information and my IVA is recorded as completed. However one of my former creditors (RBS/Tesco) initially showed my account as 'fully satisfied' with a zero balance and now they are reporting to Equifax that it is active again with a balance of £4160 and showing as only 'partially satisfied.'

I contacted them, explained my situation and (politely!) asked them to report to Equifax that my account is fully satisfied with a zero balance (which in March my credit record was showing as). They are refusing to do this and are arguing that they received a payment for less than the full outstanding balance so are within their rights to indicate to any future lenders that my account is only partially satisfied. This is preventing me from taking steps to repair my credit history and Equifax are now showing a 'credit score' of 0 which will negatively affect my ability to re-mortgage next year.

What are your thoughts on this? Why have RBS/Tesco decided to take this route whereas all my other creditors are reporting a fully satisfied account with a zero balance?

Can I take this matter further to the Financial Ombudsman Service? (RBS/Tesco say as far as they are concerned the matter is closed).

any thoughts/advice greatly appreciated.

cheers,

Bourdieu.

[rayb]

I would contact the Financial Ombudsman and see what they say. It seems a little strange that the other companies marked there accounts as fully satisfied and Tesco did not.

[Adam Davies]

Hi
I fear you are on a hiding to nothing I'm afraid
No one can stop the creditor reporting the status of your account,although I agree that it is unfair
However a default will not stop you getting a mortgage,your IVA will be on your credit file until 2013 and will put you in the sub prime market.
Use a mortgage broker
Regards

[TheMatrix]

After 6 years from my creditors meeting, I'll be sending the following letters, similar to the following if I still show defaults.

http://www.learnmoney.co.uk/credit-card ... otice.html

This will hopefully sort it for those creditors who continue to default me every month since the start of my IVA....