Tidying credit file

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Nakedguru

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Joined: Mon Feb 10, 2020 11:44 pm
Post by Nakedguru » Wed Jun 22, 2022 1:06 am
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Hey!

Been awhile since I've posted - just had a quick question about my IVA. I was gonna post a screenshot but couldn't figure out how

I started my IVA 11/04/2017. Completed it 30/04/2020

On my credit report i've numerous closed accounts (all included in my IVA) that either say "settled" or "satisfied" from dates ranging between 2017-2020.

Should these all be from when I started my IVA ? Is it better to have settled rather than satisfied ?

If anyone can help that would be great

Thanks!
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Foggy

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Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Wed Jun 22, 2022 6:51 am
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Hi --- have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

The accounts included in your IVA ( which should have been all unsecured lending at the time) should have been defaulted as at the start of the IVA, so that they disappear at the 6th anniversary, along with the IVA itself.

Those shown as satisfied will have been defaulted, so check that the date of default is on or around the start of the IVA. Those shown as settled will not have been defaulted and will remain on record for 6 years after the settlement date. The issue is not the description --- a perfectly repaid debt will be marked settled --- but it will continue to show the repayment history, which might not look so good.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Nakedguru

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Joined: Mon Feb 10, 2020 11:44 pm
Post by Nakedguru » Wed Jun 22, 2022 8:08 pm
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Brill! Thanks for all that Foggy, very useful!

Take care :D
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