I completed my Iva nearly a year ago (28th June 2016). Slowly but surely my credit file has been cleaned up and things are disappearing. I know that the iva will stay on my file until the 6 yr anniversary, However this is is where the fun stops. I had a loan with northern rock who went bust and the best got passed to a company called Cabot Fanancial. No issues with that as it was before I started my iva. However, as my iva had finished and this was the only debt showing on my credit file as being defaulted (all others shown as settled) I contacted them and was told they had not received any completion info from my iva. I sent them s copy of my completion certificate and true to their word the month after my credit file shows that the debt has been settled. This morning I get an email saying there has been a change to my credit file, so I log on and there is a new entry showing as defaulted for the exact same amount as my Cabot Fanancial but under a different name of PCO Holdco. I cannot find any info on the company so rang Cabot Financial up to find out what the crack was. I was told that they had "conveniently" sold my debt to them before I managed to get my completion certificate in so its nothing they could deal with. Now I'm stuck with a £12,500 debt on my credit file that I cannot find any information on.
Can anyone help me on how I go about getting this removed from my credit file as I have a mortgage interview at the end of the month and I worked so hard cleaning up my credit file only to get this on it weeks before my mortgage interview.
My 6yr Iva completed march this year. Received my completion certificate end of May. Did my credit score checks and I also had a Cabot financial debt on there. They bought my Yorkshire bank loan debt 5 yrs ago whilst in the Iva and where everything else has dropped off my file, Cabot financial has not. I sent them a snotty email last week and they have promised to clear it from my credit file within next 14 days. Sounds like Cabot are sneaky little f#####s
With regards to the debt sold on to `PCO Holdco`, the CRA with whom you did your credit file check will have all the addresses of your creditors at the bottom of your credit report, so you should be able to write to the offending DCA enclosing your completion certificate requesting that they remove the default.
Unfortunately there are a number of DCA`s out there like Cabot who make things difficult, as well as main stream creditors.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
This link should take you to the contact details for the company and also, interestingly, there is a link to GT as well on the web.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks for the replie ive emailed the managing director with all my details and my template letter. Let's see if anything gets done. I will be making a phone call on Monday to see if he has received my email and started to make the relevant corrections to my credit file. I have been advised to contact a solicitor to see if they can do anything I regards to this possibly being an illegal fraudulent move on Cabot financial/PCO holdco's part. Do you think it will make any difference.
I would also think of writing snail mail and sending it recorded delivery if you have no joy with the email.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I have already done this earlier today as the address was the only info I could find. I would rather speak to someone though as it's easy to say they haven't received the letter or email.
Also check the ICO website - as data controllers contact details are on there.(NOT THE CUSTOMER SERVICES) If you have problem updating details you can make a complaint directly on the website
Well after emailing the managing director of PCO HOLDCO directly on first night with a copy of mi iva completion certificate and a template letter along with a strongly worded email I was pleasently surprised to receive an email back this morning from PCO Holdco with an apology and guarantee that it will be removed from my credit file within a few days. The even attached copies of the emails they have sent to equifax, experian and call credit. Just hope the credit reference agencies act upon it as swiftly.
That is brilliant news!! Keep an eye on the agencies and if they don't remove it quickly then keep pestering them as well!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I will do. So happy with the speed in which this got sorted. If it's not off my credit file within a few days I will forward them these emails that PCO Holdco sent me asking for my account to be deleted.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
