What is the best way to repair credit ?

[James.pp]

I have completed by IVA early back in December 09 and have received my completion certificates for both myself and my wife. I then went abroad on work for 6 months with my family and am returning to UK shortly. I can now start to monitor our credit record and it as I was unable to do this via the credit agency sites due to having no abode in UK at the time. What is the best way to do this? I was going to write to each of the creditors with the old card/account numbers and enclose a copy of the certificate and ask them to remove any entries from my credit record, would this be correct.

[MelanieGiles]

That would be a good starting point - some creditors will take longer than others so be patient and keep an eye on the credit files to ensure the appropriate entries are being made.

[Adam Davies]

Hi
My own personal view, and it may not be the correct one, is to just leave your credit file alone and to let adverse information drop off six years from when it was first registered.
When did your IVA start ?
Regards

[James.pp]

Melanie, Andy,

Thank you for your reply, My IVA finished some 12 months early so is it 12 months from the day it was settled that my credit file will be clear or 12 months after my IVA would have originally have been completed e.g 6 years?

[Shining]

I believe that it's 6 years from date of acceptance of your IVA x

[kallis3]

Lesley is right, it is six years from date of acceptance. You should request a copy of your credit records from the agencies - your address will be on record for six years.

Make sure there are no defaults showing after the date of IVA approval. If there are, then you need to write to those creditors and tell them to remove the defaults.

[andym]

It is extremely important that you check your credit reference. Mine is incorrect and i am still fighting to get it fixed a year on

[kallis3]

You need to check Experian, Equifax and Call Credit. It will cost you £2 a time.

[James.pp]

Thanks all for your replies, will wait until I get back to UK and sort out any defaults on the credit records which shouldn't be there anymore. I can start the process of building it back up to a reasonable score again. Shame though, I don't really need any credit now and am used to having money to save now and still get by no problem with my normal basic bank a/c and had no issues getting a current overseas account whilst working abroad. Happy days...........debt free......care free......and savings !!!

[Shining]

Must be a lovely feeling James and one we're all working towards. xx

[kallis3]

Good luck James, you've done really well and I'll be glad when I've finished.

[James.pp]

Thanks all for your kind words. The forum has been an invaluable place to look for advice and view other peoples experiences. Most importantly it gives you that warm feeling that your not alone in this and that were not bad people really. I think I was lucky completing early the fact that I was going abroad coupled with a final settlement offer and the country being in recession worked in my favour. Creditors could see there debtor disappearing over the horizon which helped in the voting process for acceptance. It took about 2 1/2 months for the completion certificates to come through. It was a surreal moment as you realise that the hard part is over. It is amazing the habits that you have got into though and oddly enough apart from some new clothes I was still pretty careful with my money and have managed to invest up to my limit in ISA's and stocks and shares. It's nice to have a small financial portfolio again and if anything the IVA has made me a wiser invester and saver I think. There's light at the end of the tunnel for everyone ......stick it out it will be worth it !!!! Good Luck.

[kallis3]

Excellent post James. Gives the rest of us some hope.

Keep posting to let us know how things are going.