Post IVA Credit Report Help

[Virtual-Unknown]

Hi guys,

Since finishing my IVA a few weeks ago I am in the process of trying to sort out my credit report, I have been in touch with Equifax and have had the Notice of Correction removed from my file.
One thing I noticed when I was going through all three was that there were no defaults appearing on them, that was until the last couple of days when one has just appeared.

It is from a company called "Max Recovery" who took over the debt I had on a Barclays Credit Card and on my credit report the default date seems correct but it is showing as the current balance being £150.

Is this right? Should they be adding this to my account several weeks after my IVA has finished?
Also, shouldn't the balance now show as zero as I have finished my IVA?

Any help or advice appreciated.

[viperboyz]

72 weeks and they have to clear im not sure but they could just be showing what they havent been paid yet by IP.
I defer to the professionals on here.

[TheMatrix]

Have you had a completion certificate, and did Max Recovery put the default on your file after you received the completion certificate.

If so, it's invalid and I'd ask for it to be removed. Also they must write to you to tell you they are going to place a default.

If the default was placed before the CC arrived, you should now write to them enclosing a copy of the CC asking that they update the default date to the date of the IVA, update the outstanding balance to show the account as satisfied or partially satisfied with zero outstanding balance.

The IVA is not officially completed until you get the certificate, so any balance outstanding is still correct without the CC


Hope that helps.

[Virtual-Unknown]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by TheMatrix

Have you had a completion certificate, and did Max Recovery put the default on your file after you received the completion certificate.

If so, it's invalid and I'd ask for it to be removed. Also they must write to you to tell you they are going to place a default.

If the default was placed before the CC arrived, you should now write to them enclosing a copy of the CC asking that they update the default date to the date of the IVA, update the outstanding balance to show the account as satisfied or partially satisfied with zero outstanding balance.

The IVA is not officially completed until you get the certificate, so any balance outstanding is still correct without the CC


Hope that helps.

Hi TheMatrix,

Thank you for your reply.
Yes I have had my CC, I received it on the 15th of May and it was dated the 13th of May.
The default that is now showing on my file has an updated date of 19th of May so it was added after I received my CC.

I have received no notification from them to inform me that they were intending to add it onto my file either.

Does this mean it is invalid and should be removed?

If so, what is the best way about resolving this?

[viperboyz]

If you got CC request it is removed the debt no longer exists

[TheMatrix]

They cannot default you after receipt of the completion certificate as the debt no longer exists on receipt of the completion certificate.

Basically they should have defaulted you before the completion. As they did not they must delete the default.

I'd write to them explaining this to them.

[Virtual-Unknown]

Hi TheMatrix,

Thanks again for your advice.
Is there any law/legislation I need to quote when I write to them?

[TheMatrix]

The following document may be of interest. It relates to the ICO guidance on defaults with the Data Protection Act.

http://www.ico.org.uk/for_organisations ... 20doc.ashx

Points 39, 47 and 50 seem relevant.

[Virtual-Unknown]

Sorry to bump an old thread but I have eventually had a reply from Max Recovery, I would have contacted Matrix directly but I couldn't see a way to PM someone on here.

I have posted a link to their reply below but in summary they have said that as Barclays would have already applied a default to my account when they bought the debt, they are therefore obliged to do the same.

They have said that they will update the default to show that it is settled but that is as much as they will do and will not correspond on the matter anymore and if I want to take it further then Ii will need to go through the Financial Ombudsman Service.

However I am still confused over their stand point as their default was not applied until I had completed my IVA and from the information that I was provided above seems they should remove it.

Am I right? Is it worth me taking this to the Ombudsman or am I likely to lose?

Thanks for any advice

http://i40.tinypic.com/alqdcl.jpg

[viperboyz]

Having read letter they will remove it come 6yr anniversary which they are legally bound to.
Its a bit of a minefield and a complaint cant do any harm or cost you anything moneywise.
But i,d let someone like Melenie give you some advice she seems to be really on the ball on matters like this.

[TheMatrix]

Site is blocking PMs

What date did you enter the IVA?
What default date have max put down on your credit file?
Was the default put on the file after the completion certificate was received. In which case I'd say they should have defaulted you before the debt was cleared.

If you have a completion certificate then max should mark the default as satisfied.

Assuming Max have taken over responsibility for reporting the default then a default with Barclays should not show. You should point this out to them and ask they remove the default. You should not be defaulted twice for the same debt.

Just ensure the default is marked satisfied with zero balance. You're just as scuppered anyway because the IVA record will block anything. Best to just ensure all the dates tie up to the same date the IVA came into effect so the file is cleaned up on that date. (Assuming IVA is marked as completed).

[Virtual-Unknown]

Hi TheMatrix,

Thanks once again for your input.

I entered into my IVA on 31/03/08
The default date from Max Recovery is 19/03/08

So in that regards it is correct, however the default was not applied to my credit report until after I received my CC.

Max Recovery have agreed to change the default to satisfied, however as I thought they were in the wrong for applying it once I had received my CC, I was hoping to have it removed now.

I am aware that it will drop off after having been on the account for 6 years anyway, however, for some reason my IVA does not show on my Experian credit report as it does with the other two, even the guy on the phone at Experian expressed his surprise that it was not on there at all, so if I can remove this default, at least one of the credit agencies will give me a good score, which cannot be a bad thing in the short term.