Partial Settlement appears post-IVA

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nervousperson

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Post by nervousperson » Mon Oct 13, 2014 1:28 am
Hi,

Entered IVA in early 2007, exited successfully early 2013.

Just going through my credit reports and found a "Partial Settlement" from one of my lenders in mid-2013.

Should this appear on my file? I thought all accounts should have dropped off by now..is it right they can put a partial settlement on my file months after exiting? I thought the file updates should have stopped upon the date of default (nearly 8 years ago now).

Cheers!!

PS Looking through it as thinking of extending and need to sort a fresh mortgage...
 
 

luluj

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Post by luluj » Mon Oct 13, 2014 3:13 am
Have you received your completion certificate? If not your credit report will continue to show things.

Ryan, from Zebra Money, is a good option for a discussion on mortgages. As one of two brokers on the forum he has access to many mortgage products that will be able to help your circumstances. He comes highly recommended ...contact details on the left under "ask the expert a question". Shaun is another option.
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nervousperson

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Post by nervousperson » Mon Oct 13, 2014 4:03 am
Yep - completion certificate received prior to the lender providing this update...in fact, I assume it's the completion that's caused them to provide an update...
 
 

Foggy

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Post by Foggy » Mon Oct 13, 2014 7:48 am
Is it an update of an old default or have they entered a new default ?

See here for general clean up info:

http://pjgrecovery.com/clean-up-credit-rating.asp
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

nervousperson

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Post by nervousperson » Mon Oct 13, 2014 8:03 am
Well.... I hadn't opened a fresh account with that lender... It's an update on there original account...
 
 

nervousperson

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Post by nervousperson » Mon Oct 13, 2014 8:05 am
That FAQ doesn't help....
 
 

plasticdaft

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Post by plasticdaft » Mon Oct 13, 2014 8:06 am
Whats the default date on the account? If its after the date the iva started you can tell them to remove it.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

nervousperson

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Post by nervousperson » Mon Oct 13, 2014 8:14 am
No default date shown as far as I can see but the account shows as running until a point in 2013....

Account type
Credit Card
Account number
*********
Account start date
XX/XX/2001
Account end date
XX/XX/2013
Payment start date
XX/XX/2001
Repayment frequency
Monthly

Status History:
April 2013:
May 2013: PS
Jun 2013:

Surely the account end date should have been the default date back in 2007?
 
 

Ryan

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Post by Ryan » Mon Oct 13, 2014 10:07 am
Hi,
This is a common problem, as not all lenders actually register the account in Default. So will then show as PS on the settlement date.
Depending what they were showing before, if just late payments then you should still be able to obtain a mortgage.
I would be happy to look in to this for you if you would like to get in touch.
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre

IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?

Contact me at http://www.ivamortgageexpert.co.uk or via the expert page
 
 

nervousperson

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Post by nervousperson » Mon Oct 13, 2014 10:28 am
Ryan,

Thanks for your reply.

It's showing as partial settlement. Didn't even appear on my credit report the month before that date...

Will give you a shout shortly on the mortgage.
 
 

Ryan

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Post by Ryan » Mon Oct 13, 2014 10:57 am
Hi,
Is does not surprise me, the credit reporting companies are not great, and the data that is on then is very rarely correct.
Happy to look over them for you i you email then over.
Whenever your ready for the mortgage!
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre

IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?

Contact me at http://www.ivamortgageexpert.co.uk or via the expert page
 
 

Shaun Vickery

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Post by Shaun Vickery » Tue Oct 14, 2014 11:32 am
If the debt is included in your IVA then the default should no longer be showing on your credit file. In order to give yourself the best opportunity when it comes to applying for a mortgage I'd recommend writing to them with the details and asking them to remove it. It's normally quite a straight forward process but it might take a few weeks.
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For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/
 
 

nervousperson

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Post by nervousperson » Thu Oct 16, 2014 1:17 am
OK; second question - who within that organisation do I need to contact?
 
 

Shaun Vickery

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Post by Shaun Vickery » Thu Oct 16, 2014 8:50 am
If you have a copy of your report it should show the addresses of any relevant contact points at the end. If you need any help email me a copy of your full report to shaunv@equity-online.co.uk Bear in mind also that you should check all 3 credit reference agencies to make sure they are all correct.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/
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