Removal Of Credit Agreements from Equifax etc

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harald

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Post by harald » Mon May 02, 2016 2:41 pm
My IVA ended on the 29th March (I have my CC) after a F&F offer was accepted.

I have since signed up with Equifax & Experian to check out my credit rating. After viewing my credit agreements 2 x accounts (1 with natwest and 1 with Lloyds Bank) are still showing up as red with defaults. Is this normal? Do I need to contact them and send them a copy of my CC?
 
 

Foggy

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Post by Foggy » Mon May 02, 2016 3:03 pm
Have a read here:

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

Defaults will sit there for 6 years from the start date.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

harald

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Post by harald » Mon May 02, 2016 3:30 pm
I understand that, but shouldn't they now be marked as settled or at least partially settled with a current balance of £0 as my IP will have distributed them the funds by now?
 
 

Foggy

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Post by Foggy » Mon May 02, 2016 3:55 pm
Some creditors do this, others need to be asked. At the end of the day it makes little difference as they will disappear lock, stock and barrel after the 6th anniversary of the initial default date, which should be on or before the IVA start date.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

winter_blues

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Post by winter_blues » Mon May 02, 2016 5:10 pm
Foggy is right, however I sent all my creditors a letter with a copy of CC just to make sure they were aware and updated my credit files to reflect partially settled and marked zero balances. But at the end if the day what counts is the end of 6 years - the cliff face moment!.. A little big like those coin games in arcades that push the coins over and drop off for winner to take all!
Winter-Blues
 
 

Lisa Thomas

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Post by Lisa Thomas » Tue May 03, 2016 10:25 am
After you have your CC and the 6 year mark has passed the defaults should then drop off. If they don't you can ask the creditors to update their records accordingly.

It's a common occurrence I'm afraid.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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