hi all just had a look at my credit report and found ,defaults debt assignment,ar arrangements,etc after my iva was set up in 2005 and upto recent month on most of my creditors that are included in my iva which i have just comp with a f&f offer.looks a daunting prospect to try and sort this out,thought my credit file would start improving now, with it being clear in 2.5 years which would be 6 after iva set up,any advice please seems creditors are a law to themselves.
Last edited by MRBLUESKY on Sun Aug 09, 2009 2:45 pm, edited 1 time in total.
If you have a look on my blog I've written about how to update your credit files and there is also a template letter. It's specifically for BR, but it wouldn't be difficult to adapt it for an IVA as the principal is the same - you are asking your creditors to remove defaults dated after your IVA started.
Hi
Defaults will sit there for six years so they may still be on your file once your IVA falls off. James C has had some success with having defaults moved back to before the IVA was in place but it is, as you put it, quite a daunting task
Good luck
Regards
I don't know how different it is after an IVA, but when I did mine when I was discharged it wasn't too bad. Barclays were awkward, and Tesco have just ignored me, but the rest did it without too many problems.
If a creditor refuses to comply with your request you can write to the Information Commissioner and they can force them to do it.
when a default is first entered at the start of a iva,but then is re listed every month up to this year, when does it fall off six years from original date or from now if your iva was concluded ,if its now then i will have had defaults for nearly 10 years before they drop off.seems a bit harsh.
Last edited by MRBLUESKY on Sun Aug 09, 2009 9:18 pm, edited 1 time in total.
thanks storm i,m just a bit confused checking my report it as a registered dates from aprox iva start month,then theirs a 6 year box calendar that has default prefixes up to the present.with some of my creditors that were included in my iva.i thought the most recent df in the boxes would,nt drop off till 6 years from now.as they seem to be updated every month.
Last edited by MRBLUESKY on Sun Aug 09, 2009 9:45 pm, edited 1 time in total.
If your defaults are registered after the IVA, you can get the creditors to remove them. They shouldn't do it.
Lombard Direct have defaulted me every month!
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
hi jan yes it seems some of my creditors are doing the same thing this must be common practice with thousands of people being made insolvent every month and they should,nt do it i dont doubt you,how is the banks getting away with this on such a large scale,seems to be something wrong here.
Even though they continue to report the default status the default will fall off 6 years from when it was registered whether you have paid the outstanding amount or not - this isn't unique to an IVA its a general principle.
Lenders should default you as near as practical to the IVA date - if its a month or so after the acceptance date it is generally acceptable in the view of the information commissioner.
After 6 years a default or any other detremental information for that matter (inc CCJ's) are automatically removed by the CRA even if the finance company continues to send updates (which often they do as it is an automated process)
Last edited by Storm on Sun Aug 09, 2009 10:07 pm, edited 1 time in total.
thanks storm that makes things a lot clearer and better,one issue i will have is with a company that bought some debt off one of my creditors last year then started to default my account aprox 2 years into my iva.i assume the default date will start on the date they bought the debt then registered the default.sorry for rambling.
Last edited by MRBLUESKY on Sun Aug 09, 2009 10:17 pm, edited 1 time in total.
Write to them Ronald and ask them to remove the defaults.
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
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
