little confused about repairing my credit file

[wolfgang]

My IVA was completed last month, and I now have the completion letter and certificate. However I'm afraid I'm a little confused as to what to do now in terms of repairing my credit file. I have copies of my credit report from both Experian and Equifax, both of which show a number of defaults and a very poor credit rating. Do I need to contact the credit reference agencies explaining that it is now complete, or the original creditors, or both? Also, do you think I should be applying for small credit amounts now to try and get my rating back up? Your advice would be most appreciated. Thanks

[bagpuss]

The defaults and details of your IVA will remain for 6 years.

You send a copy of your cert to all credit agencies and they will update the IVA details showing that it is complete.

The creditors should update you file automatically saying that the outstanding balance is 00.00 and that it is satisfied/settled. But the fact that it defaulted will remain for the 6 years.

If the creditors havent done this then you will need to ask them...via phone or letter. Or go through your credit agencies as they can ask the creditors on your behalf.

I would NOT reccomend getting any credit...and you will find this very hard to do anyway.....untill the 6 years is up.

I personally think the 6 years thing is good...its like 6 years rehab and after that time all traces of borrowing should have been cleansed from your body......

congrats on your finished IVA. x


Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/

[bagpuss]

ohh just to add...beware of companies that claim to be able to repair your credit file...they cant...they charge you a fortune for something thats illigal.

Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/

[Adam Davies]

Hi
If your IVA started five years ago then records of it will remain for another year.
You should find it possible to obtain credit once this year is up.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[sonyse2t5]

Creditcall is another agency some organisation use. You need all three reports just to be sure.

[wolfgang]

Thanks guys.