RBS has registered the account in arrears

[jenny.m]

Hi, I had my IVA accepted in August 2005 and have made regular monthly payments since. I have recently checked my credit history and have found that when I took out my IVA, RBS has registered the account in arrears for over 18 months of my IVA. Can I ask them to remove this? Should I approach RBS, my IP or the credit score company themselves?? Thanks for your help. Jenny

[MelanieGiles]

Hi jenny and welcome to the forum

I am afraid that these entries will remain on your credit file for six years from the date they were entered. The fact that you are in an IVA makes no difference unfortunately.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[jenny.m]

All my other accounts that were included in the IVA are showing on my credit file as 'account closed' with no arrears information. How can it be that RBS are continuing to register arrears each month even though the account is closed??

[MelanieGiles]

That's one to question with RBS directly, and you will need to follow this up yourself. IP's generally will not get involved in adjusting credit files.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[jamesfalla]

Hi Jenny

I would not get too stressed about this. I am acually surprised that your other creditors have registerd their accounts closed on your credit file. The fact is that if for some reason your IVA should fail, then these accounts would remain open and you would still be liable for them.

Looking on the brighter side, once your IVA is paid in full, you will receive a certificate of staisfaction from your IP. You can forward this to the credit reference agencies yourself and ALL your old accounts will be registered as satisfied. However, the record of the IVA having existed will remain for 6 years for the date it started.

James Falla

Expert in IVA, Bankruptcy and informal Debt Management solutions for over 10 years.

For more information visit www.jamesfalla.com and visit my blog at: http://jamesfalla.blogs.iva.co.uk

[neverending]

Jenny
Its not worth worrying about.
Your IVA will be on your credit file for 6 years from the date that it was agreed,the same time as your credit histoty. Once youe IVA has finished so will your adverse credit history and you will be left with a clear credit file.
Whilst in an IVA you cannot take unsecured credit so a "good"credit history is meaningless.
Regards