Credit report after Completed IVA

[pistonbroke]

My IVA was agreed in early 2009 after a full and final settlement and I received my certificate of due completion in Jan 2010. 3 months after this I have looked at both ethe insolvency register and the credit ref details held by Experian.

The Insolvency Register is still showing my account as current - I have emailed them to ask why, but can anyone give advice on this?

My credit report is also showing the IVA as current so I have written to them outlining the correct detaails and including my certificate, but I also noticed that most of the creditors are still showing as defaulted and status 8 which I believe is the worst status level. - Should these still be showing like this? I noticed one creditor (M&S money)are showing the account as cleared and settled, so i know some creditors do manage the reports in this way

[Adam Davies]

Hi
You IVA will be on your credit record for six years from when it started regardless of the fact that it was settled early. In my experience you will find it almost impossible to obtain credit, apart from basic phone contracts etc. The defaults will fall off six years from the date that they were registered
Regards

[pistonbroke]

thanks Andy - my point is that i believe the status on my report shouldnt read as current. Shouldnt it say completed, or settled or something that suggests it is completed. I know it will still be visible, but i had hoped it would outline that it was satisfied.

And the second point: I couldnt undertand was why one creditor was showing as settled and the others still are showing as default and showing a debt due equal to the amount before the iVA was agreed.Again, i know these creditors will stay on the report, but as above i had hoped they would be noted as settled rather than default.

[hammer1]

I have just checked my insolvency register and my name no longer comes up on the system[:D][:D].

I know about it staying on credit file for 6 years, but surely the register should state completed or as it seems in my case gets wiped out.

[nongnaleon]

Hi
You not alone,I've exactly the same.I've F&F last May.but the certificate only came Jan 19 10.Because I've finished so early only 18 month in iva,most of my credit report came with default,only a couple is current is clear.Thank you for post the quetion because I want to know it as well,when my status should be clear.
Thank you

[Adam Davies]

Hi
You can contact the three credit reference agencies with your completion certificates and they will contact each creditor to inform them.
They should then update their files to satisfied. The default notices will stay on your credit file for the six years
Regards

[plasticdaft]

This is the minor down side to an early F&F as you may be re-educated and ready to try and obtain credit once again but you are stuck with the IVA on your file. At least if the IVA runs 5 years plus by the time you get your certificate the credit file should be almost clean!!!

Paul