RBS credit record.

[TheMatrix]

That is true for the default entries, but not for the accounts themselves that are closed as a result of defaulting.

e.g. I had a First Direct Bank account, I defaulted on a loan, credit card, and overdraft on current account.

First Direct clear the bank accounts, mark them as settled with zero balance a year after the IVA was implemented.

They also put a Default on the file for the aggregated accounts.

I got the Default back dated successfully to the date of the IVA
First Direct accounts marked as settled will remain for another year, due to the date they closed the account which was not at the same time as the IVA started.

The settled bank accounts, show no derogatory information, infact it only adds to the credit score. They just show as Settled and will remain until 6 years have passed from the Settled date.

[dakine]

So how come my 2 other RBS debts have been totally removed, yet this one remains?

Its shows settled with status history as (most recent first) [0][0][0][0][6][6][6][6][6][6][5][4]

Should I just hold off applying for a mortgage or get this sorted first, seems to be a couple of conflicting opinions!!??

What is the definitive answer, is it right or wrong?

Do I need to build up a credit score or can I simply apply for a mortgage? I'm not interested in credit cards and loans, this is why i got in the pickle in the first place. I simply want to move house!

[TheMatrix]

So the account has not been marked in default like the rest that's why it remains. Worst status was 6 months or more missed payments, With the account now updated to show no missed payments in the last 4 months.

Settled accounts like this, without a default, will show for 6 years from when they mark the account as settled.

I'd contact the CRA for advice here, as clearly those missed payments would have been years ago before the IVA was set up and you defaulted at that point. The default marker appears not to have been placed on the account for some reason which will dissadvantage you.

I'd say differently if it were not for the missed payments. Ideally settled accounts should show nothing but 0's or possibly a U.

A default will show up as a D or 8 in the payment history.

[dakine]

Settled accounts like this, without a default, will show for 6 years from when they mark the account as settled.

I'd contact the CRA for advice here, as clearly those missed payments would have been years ago before the IVA was set up and you defaulted at that point. The default marker appears not to have been placed on the account for some reason which will dissadvantage you.

I'd say differently if it were not for the missed payments. Ideally settled accounts should show nothing but 0's or possibly a U.

A default will show up as a D or 8 in the payment history.

It turns out you are dead right Matrix, thanks for bringing this to my attention.

I spoke with RBS's IVA department and it does indeed turn out that the information on my file is incorrect. Spoke to a very helpful lady who also confirmed that the person who had sent out the letter from there department had it wrong. At this point I requested that she would now deal with the issue. I was informed they would have it removed within 2.5 weeks. What did actually happen is that they updated my CRA accounts with 'PARTIAL SETTLED' i.e amount received was not enough to pay owed amount in full. To me this was a further slur to my credit file so called my contact at RBS again. Yet again she was most helpful this time entailing the help of her supervisor (who also concurred that the information on file was incorrect).

At this point in time I am now waiting for the RBS file to be removed. [V]