Why are there defaults on our credit files ?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
 
 

Maggie.75

User avatar
Posts: 1
Joined: Tue May 24, 2016 7:16 pm

Post by Maggie.75 » Tue May 24, 2016 7:16 pm
My husband and I entered and IVA agreement which was completed on 16th May 2011. We had expected the details of this to leave our credit file after 6 years - is this so? Should it be taken off our file next May? There is detail on our files under the completed category that says most of the debts have been satisfied but there are three that still come under the open file and are marked as defaults - why is this? Will we be expected to pay those off? We haven't had any contact from the creditors concerned and the debt has remained the same since day 1. Also some of the paid debts say that the account was closed way after the IVA was completed - some as late as 2015 - what significance does this have? Many thanks.
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Tue May 24, 2016 7:19 pm
Hi there and welcome, 6 years from the date of acceptance, you should see things improve and the IVA fall from the credit files.

I've added a couple of links below that may help.

http://pjgrecovery.com/clean-up-credit-rating.asp

http://debtcamel.co.uk/repair-credit-record-iva/

http://beatmydebt.com/individual-volunt ... -after-iva
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue May 24, 2016 7:32 pm
The important date is the date of default, which should be dated around the start date of the IVA and should then drop off 6 years later.

Have a look at the links Lesley provided, which will give all the detail.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”