My IVA finished last month and today I have joined Experian who give me a GOOD credit score of 900.
I still have 10 accounts showing, 8 of which are shown as nil balance and satisfied, and 2 which are shown as in default. All the accounts are over 6 years old.
Question -
Will these accounts actually disappear off my records sometime soon, or do I have to get them removed myself?
Also, its worth noting that Experian recommended me to get a credit card to increase my score to 999. They gave me 3 suitable cards which 'matched my credit score'.
I applied for one and was turned down!
Tina - the credit score "thingy" - is totally unreliable - as each lender has their own way of marking the application
You need to wait and get your completion letter - once you get this recheck the credit files again (it has only been 1 month) so it can take a little while for information to filter down.
Once to have the certificate check to make sure all you defaults are dated before /on the start of your IVA - if not write a letter with a copy of your certificate to the companies Data Controller asking for it to be removed - give them 28 days to do so
Last edited by ginger3232 on Fri Aug 26, 2011 2:33 pm, edited 1 time in total.
Even with a high score if there is no positive credit History to go with it you are likely to be turned down for main stream credit.
You need to build a positive history by getting things like a mobile phone on contract or a credit card like the Vanquis card or Cashplus’s Prepaid card with the credit builder facility.
Your creditors don't normally remove the defaults until you request that they do so, usually by sending a copy of your completion letter.
That's what we have found on here anyway.
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
You'll find it difficult to get any card, with the exception of maybe vanquis, with any defaults on your file, let along a satisified IVA or BR.
As others have said the score experian give you is not worth the time of day, I certainly would not pay to get this. The credit report is more important. Get that right first off, then wait for everything to drop off and apply to your current bank for a card.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
we have sent copies of our completion cert to all creditors requesting defaults are amended to the start date of the IVA and the balances recorded as satisfied etc- this took two or three months but finally all but has been done !
they will remain on your credit reports for 6 years from the start of the IVA - after this time the defaults will fall off.
Being on the electoral role, having a mobile phone on a contract and managing your bank account are all ways of improving your future chances of credit - the credit scores are not worth the paper they are written on and I would simply ignore them !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
